Alex Kachallek ‘given’ role of Managing Director in 2007 coming from a supply role within General Motors Holden. To my knowledge, he had absolutely no background experience related to Korvest products or prior exposure to the core markets in which it operates.
Under his tenure, some 40 million dollars of share price value has been wiped from the company
Announcing a dividend payment in the upcoming period in spite of the imminent loss reduces Korvest ability to invest in future wealth generating propositions and seems to be an odd strategic decision
The data below graphically reveals the business performance under Alex’s tenure, even though his salary package continues to increase
As a shareholder, I call for his resignation before any further shareholder wealth is eroded.
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