mytime - a decision of this magnitude - include $1.6 billion of cost deferral etc - would have full involvement of the Board.
There is no board on earth that would delegate this to management.
Therefore, you can only argue that Twiggy's actions last week were OK if you believe that the decision is not market sensitive.
Based on today's share price movement - which is pretty modest - that may well be an arguable position.
cuts back supply, page-9
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Last
$18.54 |
Change
-1.815(8.92%) |
Mkt cap ! $57.08B | |||
| Open | High | Low | Value | Volume |
| $18.59 | $18.68 | $18.47 | $226.7M | 12.19M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 4884 | $18.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.54 | 8321 | 32 |
View Market Depth
| Last trade - 11.34am 30/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |