In my opinion, Uwe made life-time mistake by sacking the old CEO and replacing with XTEK Phillipe, who has been notoriously famous for greed.
His pay is about $650k vs ex CEO $230k, and the board total remuneration has gone from a bit over half million to bit less than $2m. Given the $100m multi-year SUAS made absolutely ZERO for shareholders, but $1m extra a year for the management, I felt sorry for the guy been ousted.
All that Phillipe has been trying to do is to find some revenue to replace the depleting SUAS contract, they spent $5m to acquire USA company, and probably will spend some $10 - $15m expanding manufacturing capacity, all for what???
Now Chris Pyne, another politician making a living on entitlement. oh well, good luck to all holders.
Ann: XTEK appoints a new Non-Executive Director, page-8
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