stella breaching loan .. rolf is out of town., page-17

Rolf I have heard was punted and certainly did not resign.

How he has escaped scrutiny and acountability for his trail of destruction for so long is beyond me…poor old M King has taken the whole rap for MFS when for the last 12 months it operated there was actually one other executive director....one R Krecklenberg the last accounts show..yes he was the silent one on the infamous conference call

For MFS shareholders the execution of Rolf obviously came about 2 years too late....…after all this was the man that paid $2.2billion for assets now perhaps worth NIL in todays’ market…that has got to be some sort of record in the history of Australian corporate incompetence and pissing shareholders money up against the wall……first MFS shareholders and now CVC shareholders the victims….M King at MFS went along with it but word has it was Rolf Krecklenberg who was out there spending other peoples money like a drunken sailor on over inflated assets. ...one of the greatest wood ducks coporate australia has seen……

The stella accounts lodged for 30 june 08 seem to reflect the stunning level of write downs required by CVC to get the business on the books at a reasonably defensible WDV. The operating business must be performing much better than that in Aust and NZ but who knows about all the overseas stuff...

But in the end rolfs departure is like the old saying….you can fool some of the people some of the time, etc etc

Good riddance Rolf……you almost got away with it.....