The Market Judges, page-33

I get there’s been a lot of promises in the past but over the last 12 months the rhetoric has changed, supply agreements have been signed, they seem well established in the bedding market already.

Sales should continue to rise late in this calendar year, in the past they all but shut down this time of the year. They are still maintaining positive monthly EBITDA will be achieved late this year (usually quiet period) and continued growth ahead, so that’s very different to pie in the sky markets.

Dr. Bob obviously had no experience as CEO before, but I think his scientific background played a part in the analytical tools they developed to show they were 10x more cost effective than competitors, that might have saved the company. He does have an experienced Chief Commercial Officer anyway, I mean supply agreements signed with multi-billion dollar company.

This all makes sense when you look back when Sue started as Chair and they announced they were looking at the skills matrix the company required. She also brought in the current chair and other posters have given their thoughts on the current chair but here is her background anyway (at bottom).
So yes I get I’m playing the “this time it’s different game”, but I’m comfortable with that.

“Ms. Garnon (BEc (Accounting major), LLB, FCA, CTA, GAICD) has had a distinguished career in the accounting profession as a chartered accountant and taxation advisor. She was a senior partner with KPMG and held senior executive leadership roles with the Firm in Australia and at a global level. Ms. Garnon was a member of the KPMG Australian Executive Leadership Team for six years as the National Managing Partner for a significant client services division. She has extensive experience of working with Boards and C-Suite executives.

Ms. Garnon started her career with Peat Marwick Mitchell & Co (a predecessor firm of KPMG) in 1987 and was made partner in July 2000. She has extensive experience working with multinational organisations particularly in the mining, oil &gas, and defence industries.

Ms. Garnon’s prominence in the accounting profession was recently recognised in her appointment to the Board of Taxation, an Independent Advisory Board, that advises the Federal Treasurer and Assistant Treasurer on Australia’s Taxation Policy.

Ms. Garnon currently serves on the following:

-Member, The Board of Taxation.
-Chair of the Audit and Risk Committee and Non-Executive Director of Australian Business Arts Foundation Limited (trading as Creative Partnerships Australia), a Commonwealth Corporation that promotes and facilitates philanthropic and business support for Australia’s cultural sector.
-Member, Major Performing Arts Panel, The Australia Council for the Arts.

Ms. Garnon brings to the Company an extremely impressive depth of experience and knowledge, and it is proposed that she will chair the Company’s Audit & Risk Committee. The Board welcomes Ms. Garnon to Alexium and looks forward to her insight and contribution as we continue the Company’s progress towards profitability and growth.”