I don't know the fine print concerning the PRs, but I was of the view, before this announcement, that it would not make any sense for a then director who ceased to be a director to retain his or her PRs. This ann seemingly confirms this to be the position.
Once BB departs, then her PRs should be cancelled too.
They should not be transferred (or reinstated) to her MF-appointed successor either.
Rob Martin would get a lot of brownie points if he voluntarily relinquished his PRs. In fact, imo, if he doesn't then he could be seen as being somewhat selfish and unreasonable.
They were unreasonably issued in the first place.
Then there are those that issued to the CEO, Wade Evans. His position is different though I reckon. His initial appointment and salary anticipated an incentive scheme for him, so PRs to him were ok, but maybe not as generous. Maybe his terms and conditions will be restructured, assuming that he stays on of course. Although he came in quite raw as regards knowledge of everything AUR/RNI, he would have by now got into the groove and be more than useful in guiding the 2 new Directors, also the new one when BB departs. If he were to go, then where is the knowledge? - apart from Rob Martin.
AUR Price at posting:
6.4¢ Sentiment: Buy Disclosure: Held
