I’m not sure it’s entirely fair to hang the awful last quarter results on the new CEO. He was only head of the North American business since August (before that Operations and International Development). He might have been significantly responsible but he might have just received a massive hospital pass, it’s hard to say. Time will tell I guess but Louis seems to be clearing the decks so if he saw the new CEO as useless I’d like to think he would have dumped him as well.
All in all, it’s great that the decks have been cleared. It was looking like a grim decision between keeping basically the same crew or taking a punt on some West Australia mining boys.
YOW Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held