Should Richard Resign?, page-108

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Ryzie

3,795 Posts.

1980

24/03/18

14:25

Post #: 31999036
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Originally posted by Thanky ↑

Great commentary and I think we're all learning something from this that will aid in our future analysis of other investments.

I think Richard won't last as CEO. Though I think the Board will understand that to remove him now will create instability and slow down the next phase of expansion that is underway.

I think there become a point where his usefulness diminishes but right now there are a few too many balls in the air with the Tipsly app, expansion into the US, dealing with the ASX and possibly ASIC, relationship with FCC as well as business as usual operations.

As the ship steadies, the Board becomes properly functioning (I don't ever believe it ever was), the Chairman develops relationships with Zeta/Tipsly/FCC, start-up expansions steady into the US and become operationalised and perhaps the App release - I think there will be a discussion about who is best to lead BIG to the next phase.

I think Richard will know his usefulness will reduce over time. He may hang on for dear life as other founder CEOs have done (Jobs, Ellison etc) or he may go gracefully cash in and live life. I think our new Chairman with his extensive experience will be able to manage that.

So for me it's not a question of whether he should stay or go. I think he will go but the impact to the business is to high for it to happen now.

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Maybe he can prove himself by going away and starting another company called "NextBIG" and then BIG can acquire it and hire him back. Now that would be a classic Steve Jobs move.

BIG Price at posting: $2.22 Sentiment: Hold Disclosure: Held
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Should Richard Resign?, page-108

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