Your disgust & contempt of ARI former mgmt/board is shared Boges!
The sheer arrogance, ineptitude & downright deception is unprecedented.
Major shareholders/creditors were crying out for information & wanting to collaborate to make things happen in 2015, however the board/mgmt. preferred an opaque/passive adversarial approach. Dismissed all & sundry with utter contempt!
How things could have been different if they respected their stakeholders & partners. You are 100% right that Smedley under his tenure created a culture of arrogance & contempt. His ego & pride ultimately cost us shareholders the lot! Lets not forget Mr Davis, his entire career is littered with failure, yet he proclaims at the AGM he wishes to be part of the solution as the company was imploding! Ms Warnock a communication specialist who cannot read a balance sheet is entrusted in looking after shareholders interest? cmon!!!! And your favourite Ms Naomi James, her appointment as head of strategy continues to puzzle!! updated linkedin profile says it all.
Then we have Mr Bakewell who quietly slips away as the proverbial 'shit is about to hit the fan', speaks volumes of his character. Any CFO worth his salt would resign in shame & quit the industry, a trainee accountant could do a better job in managing the books and balance sheet than this clown! Finally Mr A Roberts, the most tepid CEO out there, how he ever got that gig begs belief. His reign as CEO was exemplified by a constant 'deer in headlights' mentality, he didn't know if he was coming or going. An ineffectual leader who could not manage his stakeholders & felt the need to constantly outsource his decision making to investment banks as the collective brainpower which was the ARI mgmt team did not have the faintest idea how to run a company faced with macro headwinds, despite getting paid millions!
LITIGATE, LITIGATE, LITIGATE!
ARI Price at posting:
2.2¢ Sentiment: Sell Disclosure: Not Held
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