I'm not too convinced what value the new appointee can bring to A2M. As David had made $10 million when Pacific Brands got acquired,it relieves me to think that he might not use his shares prematurely to fund an unknown and spook the market.
I just don't have much confidence in non food and beverage CEO who want in on the action but have no techincal plans to lift margins and grow profits rather than explaining their rationale behind low value marketing and consultant expenses. Previous airline CEO proved to be a disaster and said all those flowery unstructured statements, now is rumored to put herself for yet to be revived Virgin role as CEO, this already says that they are in it only for the money.
A2M has mountains of cash and I need to see this incoming CEO can deploy that cash into an immediate 10-15% return on cash assets rather than treasuries. Whether he buys, builds or diversifies is upto him. He has to impress long-term shareholders and work is cut out for him.
A2M Price at posting:
$19.06 Sentiment: Buy Disclosure: Held
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