I suspect that this has a fair bit to do with the negotiations with the banks.
Trahar is the largest shareholder and would not step down as chair unless it was in his best interests to do so.
The new CEO likely has credibility with banks and markets in general.
Taking a "time out" for a review may change the dynamic with the banks who to date have not seemed in any hurry to do a deal...
I suspect that this has a fair bit to do with the negotiations...
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