re: Ann: Laurence Freedman to retire as Chair...
G'day Dan.
Usually when something like this happens, such as a retirement of a major board member, I would be worried about the company going forward.
In this case I read nothing sinister into it.
I think Laurence always was reluctant to have to take on the position in the first place however, I think that there was no alternative but to bring his considerable expertise to the table to protect his considerable investment in the company.
I note that he intends to hold that considerable investment into the future.
I think he just wants to step back now that he is confident that the company is on a solid footing.
I have met him a couple of times and he strikes me as very genuine.
I take it as a sign that all is well with KGM rather than a sign that there are problems.
The management team have done a great job getting the company on track and I am sure it will continue to flourish.
I do remember when it was stated what would happen going forward although I must admit that I had forgotten it until this announcement today.
Regards
Lockitt
KGM Price at posting:
19.3¢ Sentiment: Buy Disclosure: Held