Ann: CEO Retirement , page-3

Surandy

Gave this some thought and I am not so sure its a bad thing.

The business was much bigger and had much bigger dreams in the old days when fed by TIM. It was also flawed in that it lived off the tax based programs and these needed the tax incentive and were to put in mildly backed by projections that were unreal. Maybe I am still being too kind.

The CEO and the ex chairman like a number of shareholders did not see the risks - neither did all of us investors. However under this surplus of cash and market darling status I think the parties became a bit complacent. They have saved the company or maybe it was the only one worth saving who knows but in reality a new team may not be a bad thing but I think it needs some new blood I like the new chairman he seems to have respect out there and seems to be getting on with it. Hopefully he restructures the business into a new sleek smaller but more effective unit.

Change is required - people dont like change - New blood wants change to be able to stamp their mark on the business.

I am not negative - I think everything bad is already out there.