Pretty, smashed the price in 2012 to 60c from $1.20 with a negative purposeful announcement.
The stock moved up to $2.00 on hot air, the air was let from the balloon when the market deemed the promises made by Mr Pretty were not being met.
Hence head and shoulders "sell" pattern displayed from 2013 / 2014.
The share price had already fallen back to the 60cent level before Pretty was eventually removed.
So many of the "technology" business units were already in place before pretty came on board, yet he tried to own the fact that he had transformed HIL into a technology company!
This business was far too intricate for Mr Pretty's skill set and his lack of understanding saw many many unqualified colleagues brought in to the HIL to the detriment of the business.
Many Telstra colleagues, most have now been moved on, but unfortunately for some areas of HIL some of the ex Telstra "spin doctors" still remain, for the good of HIL those ex Telstra staff need to be removed as it is believed they too are continuing to cause irreparable damage to the business.
There is no question, the significant damage done to Hills from this arrogant, spin doctoring CEO, however I do agree that the Chair needs to be held to account also.
As for CVT, from a high of 68 to a recent low of 7 the 'spin doctor" CEO has now got his work cut out, viewing his track record its surprising he's picked up another position!!
Cheers
HIL Price at posting:
45.0¢ Sentiment: None Disclosure: Not Held
