We shareholders have given this company over 4 years to sort themselves out and its still being poorly run. Bluescope in fact has some very good people and very good businesses. The problem I am told is firstly the old style board. The board seems unable to make insightful decisions and that has led to having weak top management in charge. This company needs to get serious and replace at least half the board with directors who are more 'switched on' and who understand how to strategically drive this business forwards whilst controlling costs, and we need a new CEO that will clean up the management team and who is able to attract some super executive managers to really switch this company on. We need a tough CEO at the helm of this company, who is action oriented, to make this a great company again. I hear there are currently some very good executives in the company that are being held back by mediocre top management. This company needs a good dose of shareholder activism because its currently seen as a bit of a joke compared to other prominent ASX companies. The Chair and board performance last year proved that this is an old school company trying to compete in the new business world. Its time to shake it up and remove the dead wood.
BSL Price at posting:
$4.82 Sentiment: None Disclosure: Held
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