It looks to me like Martin didn't take long to convince Simon to run Galaxy like it a private company, treating shareholders with disdain.
It is a shame. Simon had the benefit of starting fresh and failed syraight away. He needs to explain himself and start delivering and conmunicating when things happen AND when they don't happen ("I can't explain because it is the end of the year" WTF is that for an excuse? Is there a law against explanations at the end of the year? Seriously, can anyone see the absurdityof this comment?). This is just not good enough.
Martin has to go. He is ultimately responsible for all of the setbacks we have experienced these last 24 months.
He has not only failed to protect the SP but, with his inability to make decisions, has also directly contributed to the erosion of value.
As the chairman, he is accountable for the A40 fiasco, which cost us $45 millions (In case it didn't register, that is 30% of our enterprise value! THIRTY PERCENT - this is insane) and needs to resign. If he doesn't, he needs to be voted out without any dignity left at the next AGM. Enough.
I am also questioning the reason for Mr Baccus to be here. He has failed too. To me, he needs to go.
GXY Price at posting:
$1.01 Sentiment: Buy Disclosure: Held
