The difference between CCP and PNC is that in 2008 the Chairman, the Managing Director ,the CFO and many Directors all resigned and were replaced. The management team have turned CCP around. Since then the business performance has been excellent.
In the case of PNC the Chairman and CEO have stayed on and then had the audacity to issue lots of free shares to reward the CEO.
I find this to be unbelievable behavior when the shareholders have suffered such a significant decline in share value due to the management performance prior to and after the takeover.
The Chairman the CEO and the Directors of Pioneer should all be replaced as soon as possible.
PNC Price at posting:
49.0¢ Sentiment: Sell Disclosure: Held
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