I must be reading a different announcement to some people!
Not only is it common practice, it is good practice to adjust the board structure to reflect the various stages of a company. IMO, Minbos is refining their 'flywheel' - their competitive advantage - the offset potential is broadening, increasing and progressing. Lindsay has had his hand on the wheel for several years, and understands the company's context, so I'm happy to see his position strengthened: plus, he appears to have an ethical foundation to his leadership and management- which is important for shareholders and long term viability of the company.
I, for one, am happy to sit on MNB as a sizeable part of my portfolio. Markets are emotional beasts, they panic and react, then get overheated with FOMO.
Peeps should take a big breath and look at the big picture- 5 yrs from now, where will Minbos be?
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