Couldn't agree more with these sentiments. Updates from the BoD are thin on detail and far too infrequent. One or two 'strengths' are continually highlighted along with how each new change or acquisition or appointment of consultants is going to drastically turn the ship around yet time and time again nothing really changes and we are fed the same old BS - "unexpected headwinds"; "unforeseen increase in the price of feed grain" (remember CEO Bennett boasting of their long term contracts to stabilise feed prices, it obviously didn't work); "market not as developed as we thought" and on it goes.
I, like others, am appalled at how each Annual Report seems a re-hash of last year's, except for adding in how transformative each new acquisition will be.
CEO Jane Bennett has been at the helm right from the start and is obviously out of her depth, or just doesn't care. All but Roger McBain have fled the Board since inception like rats jumping the sinking ship. Add COO T Woolley to that list too. BoD continues to in-fight and we shareholders will pick up the tab to pay out the previous (incompetent) Chair.
And now they have the gall to keep lining their pockets handsomely whilst also admitting they don't have the skill or acumen to turn the business around so they need to employ a swathe of costly consultants. WOW.
The CONCEPT of the business is sound.
Access to PREMIUM TASSIE food products is good.
But execution of the business strategy by SENIOR MANAGEMENT is atrocious.
100% time for a change and I call on the CEO to be removed and a proper, experienced CEO to be recruited through a transparent process (not more family members and friends which this little Tassie company is famous for).
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