BIT isn't the only one, as there are some around on the ASX but in my opinion, I haven't seen any that have prospered from these extended CEO or Chairman tenures ? In my opinion CEO's should be replaced every 5 - 7 years but retail holders hardly get a say in that - it is the substantial holders that should be applying the pressure to the Board or through an EGM if they believe a change is needed.
For example; Starpharma is an ASX listed company and they kept their CEO for 18 years and then had her as a consultant for a further 6 months after she left in Jan 2024 - she was at the helm as the company went from a billion dollar market cap to today's dismal MC of circa $37 million or 9 cps. SPL were booted from the ASX300 and subsequently the All Ords as well so a real disaster for LT holders
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