Unless Sexton can get some real managers with actual food experience, the place is doomed. Most of his senior managers are either friends his or CEO, Sean Ebert.
Sean Ebert, a close friend of Sexton's has no track record in food or agriculture and is a former Worley Parsons M&A guy. Ebert must be held to account for the hiring of his incompetent team and its lack of performance. The Board needs to be independent and push to change the CEO before Ebert does more damage.
The sales announcement at the time of a dismal loss sounds like smoke and mirrors to me. There have been constant reports of deals but no actual sales.
BFC Price at posting:
27.5¢ Sentiment: None Disclosure: Held