ann....ceo retires, page-16

tight lipped? Of course they are. perhaps if I shoot of on a tangent. Ziggy went from TELSTRA, not because he wasn't doing a good job, but because he was the wrong person for the future. Is SOL the right person? Time will tell, but he has certainly started in the right way. He has signalled that the TELCO industry is changing, and TELSTRA will change to grow with the change and a lot of sacred cows will be put out to pasture. As an aside, I personally do not believe Sol will last long, and he was never intended to. But I digress.

PEO was originally sold to the public as an aggressive company. ie SWT, with the expertise of the PEO team was going to take the sector by storm. It panned out differently, steady growth via low keyed, cautious business plans. This may well be the undoing of the minds behind the strategy, because they will need smaller investors in the future. They will not attract them easily now in my opinion. I would even suggest that if the SP stays where it is much longer the Takeovers panel may have an application on their desk. PEO may be tightly held by a few large investors, but if a large player wants to takeover they can via this route. All the small holders will jump at the chance too I bet.

Anyway, I am waffling. Suffice to say I feel that PEO has performed badly from a publicly listed perspective in the last two years, but it appears that may be changing