Amazing today. I listed some of the questions Otto needed to answer and a few moments later they make an announcement partially answering these. In a second post today I spoke about no announcement of cutting management salaries and voila Matthew Allens compensation is cut 50%.
Of course, not clear whether the cut is to base salary or total package and there is a proviso that it needs further approval - so not a done deal yet. For example, how long will it take to get approval in a period of caronavirus with people working from home and many things shut down? Nevertheless a step in the right direction.
Of course my posts had nothing to do with the release of the announcements, but I am going to push fate and ask for detail on expenditure, revenue and timing issues associated with GC21. Ha.
It was good to hear Jetter talk about Otto having problems that can not be blamed on the market alone. Hopefully this is a start to Otto being more frank with shareholders. Given his connection with Molton, his resuming of the Chairmanship should also be a step in the right direction.
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