To some extent he was indeed looking after the interests of shareholder, but he was also looking after
- himself with his $1m/yr salary
- his myopia regarding corporate governance/independent board etc
- withdraw from sale process after full approval from shareholders
- lobbied for rejection of Lone Star bid (shareholders share blame here)
- failed to realise the issuance of more notes would only cause the downfall of the company now if he didn't keep the noteholders informed
AZZ Price at posting:
50.0¢ Sentiment: Sell Disclosure: Held
