Obvious now in hindsight why the directors didn't want to buy...

Obvious now in hindsight why the directors didn't want to buy any shares and why the just recently appointed CEO dumped 90% of the shares he owned before the share price crashed from about $10 to $3. I wish I could get a promotion and $250K pay rise for being second in command while the company I worked for lost 80% of its value.

https://au.news.yahoo.com/thewest/business/wa/a/19982421/fleetwood-directors-urged-to-buy-shares/

Some directors on the Fleetwood board have come under fire from shareholders for not holding any stock in the company.

Board members Peter Gunzberg and John Bond did not hold any Fleetwood shares at June 30. According to its annual report, chairman Michael Hardy during the past financial year took his stake from zero to about $6000 at yesterday's closing price.

...

Fleetwood chief financial officer Bradley Denison also copped flack from a shareholder for selling Fleetwood shares during the year. Mr Denison sold 91,000 shares.

"What it does is put a question in shareholders' minds," the shareholder said.
Mr Hardy defended the executive's share sale. "The trading that was done was done at a time when it was an appropriate trading window under our protocols," he said. "My dealings with Brad indicate that he has worked extraordinarily hard for the company and I have no reason to doubt his passion."

Fleetwood shares closed 4¢ lower yesterday at $3.06.