This will play out of the QBE and Orica CEO handover rule book. The old CEO goes, new one comes in and uncovers lots of dirt, blames it on the previous regime, and down goes the price. 16weeks = 100days. Yep about right.
What is even more worrying is that they need to pay some consultants to come in and do the review. Does the company not have the expertise or the time to do the review, or are there concerns it will not be done with sufficient objectivity? Or do they lack the balls?
What are we paying management for?
I am only holding on in hope. 60% loss to date.
This will play out of the QBE and Orica CEO handover rule book....
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