Ann: TNG Change in Corporate Management - CFO, page-16

This is very disturbing indeed, how on earth can they company lose JF? And how on earth can they already have a competent and suitably qualified candidate announced immediately? Either JF had told BOD he would resign if they won the vote and remained in power (vote of no confidence) so BOD headhunted early, or if this is a fresh resignation then the appointment is rushed and could hardly be appropriate (sorry Mr Bevan, no disrespect intended but I need to call this as I see it).

The only 2 good things to happen to TNG in recent times was the appointment of JF and what he delievered (both in funding announcements for LOI's and presentations providing with much more enthusiasm than PB), and the hope that the CMT presented to long suffereing SH's that the change needed to deliver competency and good governance to this company would finally be upon us - now both are gone, while PB remains employed safely knowing he has signed off on his own enhanced termination clause (althought surely gross misconduct is becoming more and more a reality as each day and announcement rolls on?!).

I would credit JF with most of the work in obtaining the $800m of conditional finance, and the company don't even thank him for his service - this a pathetic and very disturbing.

Surely a major is ready to switch their vote to support the CMT after all this fall out and we load up again