CFO must go, all directors on the Audit and Risk committee need to go and the CEO should go but probably can’t afford that just yet. Performance remuneration must be recouped for yr21 and yr22.
The market has little confidence in all directors and management. Shorters feed on incompetence, and they have a lot to feast on.
Fixing the annual reports, getting the audit ticked off for approval will prove nothing and will not restore confidence. Discipline, financial prudence, and performance matching or exceeding their last budgetary guidance will be the only measure management has to restore credibility.
BWX is on the verge of being destroyed by incompetence and will be privatised the way things are going. Write downs could result in BWX having insufficient assets and trading insolvent.
BWX Price at posting:
63.0¢ Sentiment: Hold Disclosure: Held
