Where is the Leadership and Direction at Grange

Have been corresponding with a fellow Sydney based investor who seems to have his finger on the pulse thru local based connections in Tasmania including a handful of employees at both the Savage River Mine and the Port Latta Pellet site. One degree of separation down there.

It would seem there are serious and ongoing concerns from long term managers and employees surrounding the competency and perceived lack of leadership and direction from Weidong Wang who would appear to be the Invisible Man as a CEO and who has been in place for one year now. The mail is that Mr Maynard as COO and Mr Bramich as GMO with a few dedicated lieutenants are carrying the full leadership can, day to day, week to week both internally for all employee communication and meetings but also externally with company comms, engagement with politicians etc as well as the local community in NW Tassie.

It's my interpretation and understanding that Mr Wang and Mr Xu as Investment Director and former Board member.........what happened there? do not engage in any way, shape or form which can only drive discontent at their lack of leadership and presence. My fellow investor seems to think that Mr Wang and Mr Xu are merely bodies acting on behalf of the parent company Shagang back in China and therefore have no interest in leading the bodies on the ground.

Those bodies on the ground are also indicating that both Savage River and Port Latta are being held back by Shagang appointed managers at both sites whilst higher calibre leaders and trusted employees were overlooked going back to the previous CEO but now retained without assessment or scrutiny by Weidong Wang.

My question if this is the case is why is this being allowed to happen? If you have incompetent leadership at the top and at site level how can the company perform to its best ability? Do I want to invest my hard earned in a business that lacks operational and leadership competency? What happens if Mr Maynard and Mr Bramich were to leave the business? Who is going to paper over the cracks then? Does the BoD see this or are they blinded by their Shagang bias?

I have decided to pull my investment based on this information as in my experience any leader of a business who is not engaged with their people is no leader at all. The fact that he appears to have continued the nepotism and by default the continued site management incompetence should not be tolerated as the business will never perform to its best result with C grade leadership at the wheel.