unfortunately as outside investors we have absolutely no idea how the inner workings of the business is going except for company presentations and the periodic financials. A CEO doesn't 'quit' at this stage if the company is about to show a significant turn around.
To say that the current CEO is 'useless' is missing the point, he executed according to the company strategy. The key issue is whether the company strategy can work in the current environment, and can work in an environment where the market is now demanding 'show me the profit' not just revenue growth. Given TYR pathway to profit growth isn't expected to occur for a number of years yet (as it builds out critical mass market share), I was ok holding a position on a look through, but this is predicated on the CEO staying put and having confidence that the strategy is all going to plan.
Now the CEO is out the door, I question strategy. Hence I exit.
TYR Price at posting:
64.5¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)