Not really much to post about these days, its all been said. If nothing else, the 6 monthly accounts come out soonish. Jeff has been with us 3 and a half years. This frorm the original announcement,
"TSN Chairman, Mr. Paul Boyatzis said, “following an extensive search, the Board is pleased to be able to
appoint Jeffrey to the role of C.E.O. Jeffrey’s previous roles demonstrates his deep understanding and ability
to work within complex organisations in the Asian financial services sector. He is well credentialed to lead
the expansion strategy of TSN by finding new technologies to implement in India and across Australia and
Asia.”
In the coming months, the Board of TSN will also review its Board structure following Mr Lai’s appointment.
Mr Boyatzis said, “with Jeff’s experience and skill set enhancing the TSN team, it makes good sense for us to
review the skills required of our Board. We are keen to develop opportunities in the banking and e-payments
technology sector across Australia and Asia given our strong relationship with one of the world’s largest
consumer demographics being India, so we need to skill accordingly.”
Given the disregard given to our Indian investment, the move away from payments business to cyber security and lack of R&D, I would say, kindly, the original strategy for Jeff's appointment went by the by. So what is the point a strategic review, when it is clear from history what you are told is not necessarily what you get. I want a clear direction articulated, time frame and milestones and after 3.5 years we shouldn't need a review to tell us what they are. That way they can be held to account for their "strategic" decision making and hopefully the fortitude to leave if they fail (though praise and rewards if they succeed).
Without any overall direction VOR will just rise sharply and fall sharply on sentiment and spend eons in the doldrums (as we have all witnessed). If they want a consistent small private business that pays a wage, buy it or start your own (as we have seen they are not to keen on buying it). We are at the risky end of the market, so lets take a risk to grow, add some shareholder wealth or at least try too. If they cannot or will not do it, find someone who can or at least will have a fair crack at it. These are my views.
Cheers
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