Wouldn't it have been great if the Board has stepped in during business as usual conditions and properly interrogated the strategic direction of relentless debt fueled acquisitions BEFORE the business is on an absolute precipice AND THEN the Board response is to appoint two Board directors (i.e. the very same people who were asleep at the wheel while the business was heading towards the cliff) as co-CEOs to sort the problem out?
Why would so many smaller satellite businesses have been willing to sell out to Speedcast over the last few years? Yet another governance disaster.
Even if there is a class action, its the insurers who pay. The directors will simply go on to other Board positions with their trusted colleagues. It's time that ASIC and ASX got serious with these Boards and started to hold them accountable and not need Royal Commissions to shake a few of them up.
Good luck to all shareholders.
SDA Price at posting:
79.0¢ Sentiment: Sell Disclosure: Not Held
