I had the misfortune to work here and to be quite honest I felt the previous CEO feathered his own nest.
In my time the Strategic Sourcing group were decimated and some awful decisions by ex-smorgan directors on resourcing and personnel selection, why they were given control over the existing OneSTeel staff well you pay your money and the shareholders cop it.
They continued to operate as BHP without the deep pockets to sustain them. Got into Iron Ore and cut their efforts in manufacture just at the time that the customer base dramatically cut Iron Ore deliveries. I still have some shares but do not ever expect to see them again, the offer from Korea a couple of years back should have been accepted faster than $200 by a Pro. in Kings Cross.
ARI Price at posting:
19.5¢ Sentiment: None Disclosure: Held
