Wow, quite a lot to take in here. I suppose the one piece of good news is that EG continue to hold discussions with OLI so the takeover is not completely dead although we have to expect that it will be very significantly repriced.
However, appointing the former CEO of a food business that went into administration as the CEO of OLI? I'm not so sure about that.
Appointing JG as the Chairman replacing the former independent Chair, not so sure about that either. How can an incoming CEO expect to make material changes to the business to help it recover when the incumbent is hanging around as Chair?
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