Do not under estimate the damage to the core of the Bapcor business that occurred under the reign of the previous chairman, she resigned in mid 2024.
Bapcor has lost a lot of experience and its core has been gutted. The kicker today is $50m after tax write offs that have been lurking around the balance sheet. Fund Managers will show no mercy today, nor should they. This all started a couple of years ago when former CEO Darryl Abotomey was sacked by the previous chairman because she could not align to Darryl’s hard but successful management style.
Having worked in this industry for a long time, it pains me to see the demise of a formerly great business.
BAP Price at posting:
$3.55 Sentiment: None Disclosure: Not Held
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