I have been monitoring CLH for some time now trying to determine...

I have been monitoring CLH for some time now trying to determine whether it is a good buy or not now that Rivas has taken over the business.

I have made the following observations and am still at odds on whether to take the risk. The items which are playing on my especially since someone raised it will take some experienced management to turn around are:
- Looking at LinkedIn Marcus Barron appears to have taken on the re-established role of COO after it being made redundant just over 12 months ago. Reading his profile I question what experience he has transforming an operation yet alone managing and operation. IT background with most of his career in IT and most recently the CIO for CLH. Appears strange considering Rivas is driving the change IT investment, would have thought the CIO would have been all across this previously!
- Collection Service's segment has grown steadily over the past 4.5 years. Looking at previous Annual Reports and LinkedIn operational head came from external with experience in GE, ANZ and consulting in risk and operations management. After this continual growth why hasn't he moved over to look at Lion Finance?
- What has happened to the position of CRO? What is the underlying governance strength, especially considering it appears the legal appetite is changing. Is there potential risk for additional regulator scrutiny especially reading the media around Centrelink and debt collectors recently.
- Who is driving the people strategy at the exec level since the Chief People Officer left according to LinkedIn, not that it has been announced.
- Which brings the question of according to the half-year presentation the number of execs has dropped from 6 to 4. My count is there is now only 3 - CEO, CFO, COO. The Chief Risk Officer and Chief People Officer have left. it doesn't add up!


Whilst the talk of the direction being taken sounds great the choice of leadership experience doesn't stake up to being able to deliver, and then if you can't be transparent about the leadership changes, can we trust the Rah Rah?

I see opportunity for the value to grow, however is Rivas making the right decisions on the execution strategy?

Is it worth the risk jumping in now?