I think Mr Mangano was the previous CFO, yep. Appreciate I’m treading into ‘gossip’, but for what’s its worth, I caught up with two colleagues who are fairly senior in Veris, working out of the main office here in Sydney. They talked about big friction at the Executive level – maybe the incumbent board didn’t like the savings that the CFO was proposing?
They also mentioned that the most senior surveyor, who had been put in charge of one (of the many) operational reviews, has now left the company. Not sure what the background there is, but potentially points to more unrest.
I took from the document more than just the $5m saving. However even that is more than the incumbent board are proposing – we’re not hearing anything from them which I find quite disparaging. Maybe Adam isn’t bothered due to all his other interests, but hopefully we’ll hear something this week.
VRS Price at posting:
5.8¢ Sentiment: None Disclosure: Not Held
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