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The market seems to be be agreeing with you Hottuna. Starting...

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gttrain

9,428 Posts.

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28/11/16

11:53

Post #: 20930759
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Originally posted by hottuna ↑

The business may be totally fine, but one month's notice just before Christmas isn't exactly an example of prime succession planning.

Normally when such a veteran CEO - who owns 15% of the business - looks to retire, they'd either give a very long notice period to allow a successor to be found or they'd only quit once they'd found a successor.

The fact that he's walked with minimal notice is consistent with a range of possible scenarios where the business might not be fine. Further, as he'll no longer be a director he'll be able to slot his stake without notice and with out the enhanced disclosure that being a director entails.

Now the business might be fine, but the paucity of disclosure and absence of a commitment to maintain his shareholding is disappointing.

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The market seems to be be agreeing with you Hottuna.

Starting the hunt for a new CEO today ? something seems amiss.

NTC Price at posting: $2.36 Sentiment: None Disclosure: Not Held
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