Yes, the leak came from the Australian Office IMO. Swami isn't saying anything because I think he is probably pursuing a complaint through his legal representatives, so I doubt this is over. This must have been brewing for a while for the BoD to have undertaken all these remedial measures. For the investigation to have recommended DW step down suggests that they concluded DW had said or behaved inappropriately and that would have been the best/easiest way out. However DW doesn't want Swami in the CEO job and the relationship has deteriorated so far they can't work together. Ultimately the BoD has sided with their biggest shareholder and the company founder DW, but it wouldn't surprise me for the next set of accounts to include a compensation settlement for Swami.
What a mess, but apart from the compensation, I don't believe it will affect the business. It explains DW's subdued look at the recent webcast presentation. Bumpy road for the next 6 months. Good buying opportunity probably.
PNV Price at posting:
$1.20 Sentiment: Buy Disclosure: Held
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