I think your under estimating the nature of these businesses....

I think your under estimating the nature of these businesses. There will definitely be write downs on the investments, any new CEO/MD will be looking to get anything thats under performing written down ASAP. That way when you need to exit it, its not on you it under performed, its on the last guy. The more the assets are written down, the better the new person looks if they improve.

The only way that this company survives is if the following happens next:

They will announce a new MD/CEO and it has to be an external new person with solid capital management experience, that person will call for a market suspension from trade. Then they will announce that there is a write down of certain investments, they will be sacking a few more people (generally senior managers), there will be a suspension of the dividend for an undisclosed period of time and there will be a "restructure" of the business into a new direction with greater disclosure (the next, latest greatest idea EVER). Resume trading of the securities and start capital raise for the next venture. The merry go round starts again.

I just don't know that there is a body that would take the job that can do the above the right way. Its only $400k / $500k per annum and you are competing with other companies that can pay much more. To put it into context, at $500k you are looking at a mid tier executive in Sydney. Not the person running the company. That salary should be closer $500k plus a bonus system to make a total package of $1mil to $1.5 mil.