Unfortunately I think you’re correct, I just hope they can put ego aside and put the staff and company ahead of their own interests. I actually think it’s the Board ( excluding David ) who have let us down. They are our representatives who are supposed to stand in the middle of these issues and find sensible resolution. They also should be looking at succession for the CEO and Chairman. Swami apparently had a 3 year contract due in July and David has been in his role 13 or 14 years well beyond the recommended maximum 9 years. The investigation needed to be appropriately acted upon and there needed to be an orderly transition to a new CEO and potentially new Chairman . This is the third time a CEO has “ departed “ at the Boards behest with no succession in place . I have been a long term follower of David and until recently done well as a result and found him to be one of the very active and insightful Chairmen. I think Swami has done an excellent job in 2-1/2 years restoring growth post Paul Brennan, creating opportunities both geographically and product wise and rescuing the disastrous first attempt at Hernia under PB. He also put in place an excellent team who by the looks of it are incredibly loyal. This needs to be fixed and fixed quickly before we end up in the courts or worse ASIC for the suspected trades while this all happened in the background. i can’t imagine Port Melbourne is currently focused on Patients and Surgeons at the moment!!!
PNV Price at posting:
$1.26 Sentiment: Hold Disclosure: Held
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