I was actually surprised by the fall in share price following Jenny Hutson's resignation. I consider it a positive move forward.
What will Chris Scott do next? Presumably it will all be quiet until after the departure of JH next Thursday. Improving both investor and community confidence is crucial and communication from Chris Scott detailing the way forward will be expected.
Community will be looking for family friendly delivery of service and shareholders will welcome those changes that will improve occupancy. Consideration needs to given to selling consistently under performing centres, paying down debt and slowing down acquisitions.
At this stage they are unaware of how Anchorage will deliver service and grow Affinity, so time to step out of the box and deliver to the community, flexible services that meet the needs of their clients and their children.
Early childhood whether corporate, private or not for profit is about recognising and meeting the individual needs of each child in care and working together with families to ensure the best possible outcome for that child. Happy families ensure high occupancy, high occupancy delivers healthy profits, healthy profits deliver dividends that keep shareholders happy. If you believe that the three A's (aggressive accumulated acquisitions) works long term in early childhood you are very misinformed about the profession.
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