May be a retired lawyer but the statements made by Mr. Richardson about the circumstances of the former CEO leaving Brainchip are capable of being catagorised as criminal defamation and an attempt to manipulate the share price of Brainchip an ASX listed company when contrsted with the article published by his own paper under the hand of Michael Roddan on 18 March, 2021:
The real reason behind BrainChip chief’s exit
Michael RoddanSenior companiesreporter
Mar 18, 2021 –11.54pm
It’s hard these days to know what to make of aterse company announcement of an unexpected executive departure, givencorporate Australia’s recent enthusiasm for jettisoning blokes behaving badly.
By their nature, announcements to the ASX oftenleave much unsaid. AMP’s announcement last year that Alex Wade’sresignation was “effective immediately” made no mention of the formerexecutive’s interest in amateur photography. Say no more, say no more.
Louis DiNardo came to the realisation BrainChipwould benefit from a more energetic and committed leader, having served nearlyfive years in the job.
QBE’s contention that Pat Regan’s“workplace communications” breached the group’s Code of Ethics and Conductcontorted its own adherence to the code that requires QBE to share “accurateand complete information ... with our stakeholders, including media”.
QBE has since refused to answer questions aboutRegan’s appointment as a director at Expert360, in which he was a majorshareholder, two months before his sacking, while chairman Mike Wilkins and interim CEO RichardPryce last month refused to hold a media conference or interviews at its full-year results, as it had done since time immemorial.
In this environment of unfinished disclosure, theASX 300 index’s newest addition, the $1 billion artificial intelligence companyBrainChip, on Monday told the market its CEO Louis DiNardo had been “terminated without cause, effective immediately” in a “mutually agreed” decision.
BrainChip’s explanation DiNardo was “leaving thecompany to pursue other interests” gave cause for concern, and shares in theReddit-loved stock fell as much as 10 per cent, before closing 5 per cent loweron the day.The full story, thankfully, involved no such forays outside thebounds of the company’s code of conduct.
DiNardo, unfortunately, was hospitalised just daysbefore Christmas due to an accident involving a menorah (a seven-branchedcandelabrum) and some Christmas tree branches (a well-known flammablematerial). It doesn’t take an artificial intelligence titan to join the dots asto what happens when you mix the two.
Recovering from third-degree burns to his handsover January, DiNardo, 61, came to the realisation BrainChip would benefit froma more energetic and committed leader, having served nearly five years in thejob.
While CEOs can often self-immolate, we can’tremember one doing it so literally!
With backing from Alex Waislitz andRegal Funds Management, BrainChip’s shareholders could perhaps benefit frommore “accurate and complete information” when dealing with future leadershipchanges.
Redditors seem to agree. User YTB1991 (Yeah TheBoys) this week said he was chuffed the “meme stonk” only lost 5 per cent onDiNardo’s termination.
“Can only go up from here haha watch BRN fly whenthey get a proper CEO with connections that can actually put an announcementtogether lol.”
My opinion only DYOR
FF
AKIDA Ballista
(20min delay)