Unfortunately Pacific Brands are now nothing but a two bob importer of Chinese products, Very soon their " brands " value will be zero.
Board remuneration going from $7 million to over $15 million against a backdrop of a smashed share price is obsene, whilst Morphet's package going from $700k to over $1.8 million whilst overseeing a company on the road to ruin and collecting a bonus for sacking a couple of thousand workers is criminal.
How Sue Morphett ever got her position in the first place is totally beyond me. She has shown absolutely no financial skills in running a company a hundreth this size. The banks must have her resign immediately.
The Chairman must be forced to also resign.
How much have they sqaundered on outside consultants - in excess of $10 million !!
Where are the basic human morals of these people.
I hope the Australian public vote with their wallets and boycotts every single PBG product.
PBG Price at posting:
21.7¢ Sentiment: Sell Disclosure: Held