Very short tenure Board as your table indicates. Stephen's out after only 18 months as Chair. They've lost a lot of Board experience with both John and Vasco leaving in last 18 months. Cheryl is now the lead NED and looks very much like a tick and flicker as someone else mentioned. She's spent the last 13 years floating around in various NED roles. Marketing background and not a real operator. Most importantly no skin in the game! She'll probably be looking for a another tick and flicker buddy of hers to parachute in as Chair.
So Board depth is indeed sorely lacking at the moment. I'd thought AIAC (D2A parent) might look for a board seat and some more meaningful engagement, doesn't seem to be the case yet. Timmy is still a fairly new CEO so he needs a strong Board to back him up.
Disappointing outcome to lose the Blanco distribution. Only back in Dec 2019 Blanco global CEO Frank Gfrörer visited Australia for the first time and attended Shriro HQ along with the Blanco APAC MD. They even produced some slick promotional videos together. https://www.shriro.com.au/about/brands_event_details/49098
One of the inherent risks of owning a distributor is in-housing by the brand. I don't think Shriro has ever lost a major distribution agreement before. Timmy has been the Casio account man for nearly 30 years so hopefully he has better luck holding onto that one!
SHM Price at posting:
94.0¢ Sentiment: None Disclosure: Held
