"But all of that was know when guidance was restated in...

"But all of that was know when guidance was restated in December."

I don't think JK knew and still doesn't know, which is why he did not give a guidance for Fy20...He has no historic basis for this to be a 'known' figure.

"Yesterday a new term was created out of thin air called "Operational EBIT". First time the EBIT guidance figure had been referred to in such a way"

Very innovative , I think more business and even the accounting profession should apply this terminology

The point is, yes ISX needs to get this right, but focusing on this 'term' is missing the 'larger' point. And to suggest broad changes to the board is a bit too much in my view, especially when they haven't had a fair crack at it. We can agree to disagree, so all good.