Are they? my view is that the management can read sentiment, they know things haven't been right on a lot of fronts and they have taken action.
That shows a level of sense and maturity in the business. because egos are inevitably involved. We've likely cut a significant cost out of the business according to this announcement and created more focus. Ok it might not shift the share price significantly but you'd have thought people might approve of cutting costs.
I agree with Plough's comment about taking a step backwards. Nick has spoken many times about preparing others - in articles he has written, and quite clearly in the changes that have taken place to Dirk's role over the last couple of years. These shifts are a matter of history and suggest a very strong succession plan. Nick's not going - he's just supporting the business differently, and I believe he is probably going to be doing a role that is both critical and better suited to his style and skills. As for Gavin - well the Instagram details that NZdude posted probably say it all.
Parsifal
AJX Price at posting:
50.5¢ Sentiment: Buy Disclosure: Held
