The issue extends beyond the CEO.
Firstly, the board placed the CEO, therefore needs to take a level of responsibility.
Secondly and more importantly, the top tier of mgt is the issue, not just the CEO.
The mistake the CEO made was not surrounding himself with good people. If you do this and quickly, even a monkey as CEO works fine and delivers results!
Will be interesting to see what type of person replaces Perry. Perry was a strange pick with his background. Well qualified for mining though!
All in all, VDM looks like it's found a base and perhaps the bad news is flushed out. Is now getting my interest.
Mav
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