If the major shareholders feel so strong as to head off management initiatives and Iggy is the (initial) scapegoat, then we are in for interesting times ahead!
Iggy only did what he did with Board approval and we unfortunately still have the same Board, which is the bigger issue in my opinion.
If you look at their backgrounds they are primarily legal and finance people. At this stage GXY needs a far greater spread of production/process experience that can develop a realistically achievable strategy and then ensures the MD carries it out.
Hopefully we will see some Board changes as well.
GXY Price at posting:
7.8¢ Sentiment: None Disclosure: Held
