Years ago when Lake was not in the dire situation it is now the company flagged that they were on the hunt for another chairman...Why this clear abject failure of a chairman is involved given the following is bewildering
He was instrumental in removing previous CEO
Appointed himself interim CEO and paid himself a pro rata $1 million salary pa
Appointed new CEO on a salary that is between 5-10 times industry norms
Has never bought a share and rewarded himself with millions of freebies
Sold millions of dollars of shares just before a project downgrade that consequently led to 90% erosion of the share price
Now the firesale begins!!!
How this guy has not been sanctioned is amazing.....when this story is ultimately told it will be the benchmark for all that is wrong in our market
LKE Price at posting:
3.1¢ Sentiment: None Disclosure: Not Held
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