Yes, not really a good announcement, but not as bad as it seems either.
The options are all worthless - strike price well above current market price. Hence probably the ex-gratia payment.
I agree Les seems to have done a miserable job as CEO, but you have to remember before this, he was CFO for a very long time, and I think he did make a useful contribution there. I suspect he made a very good balance to Alan Newman's zeal!
Done, dusted, let's move on. The new guy has an excellent opportunity to show what he can do here, let's hope he takes it.
Yes, not really a good announcement, but not as bad as it seems...
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