DB took over the CEO role when the company was pretty much at rock bottom in 2021.
Yes, the pedants here like to argue that the SP was a bit higher when he officially started in Feb 2021, but it was only a couple months later that it finished falling from $20 down to $5 or so with a final downgrade.
That May 2021 downgrade is where the company cauterized the bleeding wound left by previous management, by writing off $100M + worth of inventory. I think it is fair to judge his performance from that point.
By the end of that year they had developed a 5 year strategy (through to FY26). One of the key goals for that strategy was sustainable growth of yearly revenue to $2B by FY26. At one stage, due to the dropping birth rates, this target was softly amended to FY27. However, by my calculation they will likely hit $2B next financial year as originally forecast.
If you look at that original strategy, you'll see most of the objectives have been reached or likely will happen by next financial year. The main exception, which could change soon, is the supply chain transformation through M&A.
As CEO, if you take over a struggling company at its lowest, make a five year strategy, stick around the whole five years to execute the strategy successfully, I would not be remotely surprised if he decided to move on. Personally I think we'd be fortunate if he stuck around for another strategy cycle.
A2M Price at posting:
$8.24 Sentiment: Buy Disclosure: Held
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