Whilst I am sure this is disappointing for Tom, I also believe it is the right move. Tom's skills are not in developing an asset and this is clearly in the mind of the Board. As a Chair who has had to do the same in recognising that the incumbent does not has the depth of skills to take a company to the next level, I can sympathise with Tom and appreciate the Board's decision.
I trust that the Board has a solid interim plan to manage the transition and keep momentum during this period (Peter Cook is a safe pair of hands but will need support). In the medium term, we could see investor interest return to this stock in anticipation of a big push forward in 2023.
I also wonder to what extent there was pressure from the major shareholders to shake things up?
GLTA & DYOR
BRB Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held