Ann: Mr Tim Lehany to cease as MD and CEO effective 30 June 2014, page-37

Unbelievable current status with this company. Current SBM representatives would have s/holders believe they cannot control POG or natural events & therefore the impact on company financial status which to a degree is true. However of greater negative impact is that these people chose to persist with unprofitable activity in difficult times. These "'chosen ones" are entrusted to protect & build s/holder value by mitigating risk through the strategy they formulate & execute. On both counts they have miserably failed. To resurrect any respect in this BOD, I would hope they announce in a timely manner , what has gone wrong & why, their new future direction & how they are going to turn this company around & a timeline.
If not , then the next AGM would be a good place for this to occur . The renumeration report should also be voted down as it clearly doesn't penalise bad top management. KPI's should protect s/holder value (SP) given risk mitigation is reasonably undertaken & factored for unusual events and also benchmarked against other like companies. So far , the game their playing is production achievement with little regard to profitability , even when external factors change the companies risk profile.
Also noticed that shares held by BOD members, with exception of chairman, didn't have too much skin in this company.
Never commented on this site before until this fiasco.