ASX Announcement 20 Oct 2023 - "Mayfield Childcare Limited (the “Company”, “Mayfield”) is pleased to advise the successful resolution of previously announced misappropriations by its former Chief Executive Officer and Director, Dean Clarke. The Company has reached a $1.06M settlement with Dean Clarke, in addition to $45,279 of misappropriated funds already repaid by a supplier."
You can quibble over how much of this was cost recovery versus misappropriation but it is still a significant failure of corporate oversight under the previous board.
I agree that cost blow-outs are a major concern and management need to held accountable for improving profitability but how is appointing a board with no company or industry experience going to help?
And who is Riversdale going to appoint as CEO? Hopefully not Dean Clarke!
ASX Announcement 20 Oct 2023 - "Mayfield Childcare Limited (the...
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