I got out today. Zero forward strategy, failed tenders, vague...

I got out today.

Zero forward strategy, failed tenders, vague reports on project pipelines, late or non-existent project timelines. Lot's of pretty pictures of Carnegie staff at conferences. The CEO (MO) is paid nearly 2% of CCE's entire market cap, this is not an acceptable situation. a fortune but has delivered less to shareholders in real terms than he's been paid in salary.

This company is a lifestyle vehicle. It is focused on its own profile, and that of its execs first, and maybe one or two small projects last.

At no point has there been any clear, credible plan on how this company is going to grow shareholder value.

I said after the quarterly that you have to go to a conference to hear about what CCE's plan is, and even then, it's garbage. These guys have no runs on the board, yet they're chewing through shareholder funds like it's a packet of biscuits.

CCE needs to find a new CEO - a solid project manager/finance head from a LLC or a DOW, somebody who has a nose for large-scale project execution and strategy in developing markets, not someone with an R&D consultancy background. At this stage in the evolution of renewables, such a person is your support exec, not your CEO.

And they need to diversify their Board, even just a bit, this isn't the 1990s https://www.carnegiece.com/about/board-of-directors/.

CCE was a longer-term hold for me, but I can't see this going anywhere right now, and my funds would be better looked after elsewhere.

Sorry about this rant folks. I hope this turns around and I'll be very happy for you all if it does.

I'll leave you with this CCE FB post, which I think says it all about CCE's priorities...WTF