Ha, just look at the long term effect of a poor choice in CEO can have on a company. Thank goodness we had Geoff B and the BOD hand pick Jayne H to step into his shoes. I imagine there would of been a stampede to the door from A2 milk retail holders and insto's alike if Laura McBain was announced to be our new CEO.

Go Jayne and commiserations to the poor Longtime shareholders who inherited her.


https://www.smh.com.au/business/companies/grass-is-still-greener-at-bellamy-s-for-former-boss-laura-mcbain-20180824-p4zzod.html

The euphoria over the appointment of former Bellamy’s boss Laura McBain, to the top job at Longtable - the foodie group which owns half of Maggie Beer’s gourmet food business - has gone a little flat.

Laura McBain, former CEO of Bellamy's. Credit:Vince Caligiuri

The stock is still worth a little more than it was when Laura joined this time last year - when it was still known as Primary Opinion - after the 25:1 share consolidation is accounted for.

Sure, her former employer Bellamy’s has almost halved in a matter of months but the share price has more than tripled since she left in controversial circumstances early last year.

So it was no wonder that she headed to the courts last month in an attempt to plump up her exit package from Bellamy’s.

According to the court judgement, she received a $224,723 payment in lieu of notice and was “entitled to exercise 504,870 options from her incentive plan priced at $1.30 per option.

Illustration: John Shakespeare

Bellamy’s board decided it was necessary to scale back her options package to 116,348. This was to avoid breaching the statutory cap of 12 months pay that would otherwise require investor approval.

If anyone is wondering what all the fuss was about, the 388,000 options withheld would have been worth up to $8.7 million when Bellamy’s stock price peaked at $22.50 in March this year.

Which is why McBain’s legal team were arguing the investors were “sufficiently informed” and had already given approval to this largesse when they approved her options package at the AGM in 2014.

The NSW Supreme Court judgement found in Bellamy’s favour and McBain lost.

So, CBD wanted to know whether McBain was planning to head back to court and appeal the decision.

Despite our constant queries, there was no word from Laura’s minder but the foodie group is due to report this week, so we will hopefully get an update from the lady herself.