Ann: The a2 Milk Company Investor Day 2021, page-159

I think a considerable amount of investors would be less angry with management about the poor sales performance last year if it had occurred whilst a well-informed and carefully considered strategy was in place, particularly in the areas under Peter Nathan's responsibility.

There are extrinsic factors outside of the company's control and there are those internal actions they can take to respond to and manage them. It would be silly to be angry about the extrinsic stuff - sh*t happens on that front - but understandable to be unhappy with the lack of planning and basic knowledge about channel structure, cross-over effects, inventory levels etc. And for anyone who bought during that period, I can see why you would be absolutely furious about poor disclosure.

But aside from class actions, that is all in the past, and now a basic prerequisite is addressing their poor internal information and research. After reading the presentation it is difficult to argue they have a incomplete understanding of the environment and their current situation in it, which is the most basic prerequisite for getting where they need to go. But if they do not announce more concrete steps around some of the possibilities they have outlined soon, e.g. at the AGM, then I think you could only draw the conclusion that David B.'s agenda is getting obstructed.