Ann: Wellard Update-WLD.AX, page-141

Surely the board needs to be held accountable also, they are the ones that should be adding some credibility and governance to this company. How they let the company release a set of revised forecasts on Friday without making 100% sure they were not going to be revised again is beyond me. This is really simple stuff for a listed company. The MD needs to step back and take an operational role (he clearly doesn’t have the required skill set to run a public company). The finance guy who is running the books needs to be taken off the board and an independent director added who is well versed in corporate governance and the responsibilities of a publicly listed company.

Shareholders at risk now of being wiped out completely.