Greetings Psy.Yes, earnings drop- announced days before the...

Greetings Psy.

Yes, earnings drop- announced days before the results are due to come out - is cr*p governance. Have these guys not been getting monthly reports?

Two groups of issues, I suspect.

The comments about an enterprise system* suggest the management of inventory and delivery are problematic. If the Board is taking a simplistic attitude 'new computer system will fix it' then we are in for a rocky couple of halves. The issues (IMO) are going to be a porridge of people issues and systems issues.

In my consulting life i have worked on a few of these - if the Board don't recognise the people determinants, well.....

And as a perceptive and intelligent person as I suspect you are (no Basil Fawlty jokes) you will notice I have said "Board" when I should have been talking about management.

Is this Board too intrusive? Why did the Board shift one CEO across in March, and the new appointee is gone by August? Are the Board sub-committee's (announced on 29 April, [Global R&D and Procurement],and [Marketing and regulatory compliance]) too intrusive?

My buy price is a little above these levels, but my position is a 2 yr + hold, so i am not too concerned. Not happy, but not an exit yet.

f111

* 8 April "Appointment of Chief Executive Officer"

and

29 March, restructure, new CEO coming and purchase of new enterprise management system.