I will be voting against the resolutions. Too generous considering that the new MD will be riding the wave of the breaking of the drought. The droughts always break and often in a big way on the east coast of Australia. He has a very handy base (huge crop delivered to Graincorp) to work from so unless the Board has set some high hoops for him to jump through over the longer term, he may well be in the easy money.
Don't get me wrong, he may be a talented man and working 80 hours a week but as others have said, I lack the skillset to analyse how the performance rights have been set. I do know however that he did not make it rain and the economies of scale delivered by the huge crop this recent harvest, and the soil moisture already in the soil profile in NSW that will contribute to the summer crop in the next few months and the 2021/22 winter crop, gives him potentially an easy run for the next 12 months or so.
GNC Price at posting:
$4.38 Sentiment: Hold Disclosure: Held
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