It's unlikely Haley wants to be on a board if he doesn't have to be – he doesn't really need to sit there and collect a pay cheque unlike the majority of ASX listed directors. The announcement reads like a closing of the chapter on the European business. Murphy being moved to an executive director position while a new CEO is found also seems like part of that transition. I assume he will exit the business totally once a new group CEO is installed.
It's hard to read this as a negative to be honest.
EML Price at posting:
$1.10 Sentiment: None Disclosure: Not Held
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