The way I see it, Godfreys doesn't need more investors....they need a totally new leadership team. As you have correctly pointed out, many institutional investors (actually most investors) have exited licking their wounds. It is easy spending other people's money. Tom's selling up certainly shows a huge "no confidence" vote in my view. He has been around for a very long time and importantly has worked with Hardy for many years. He obviously feels Godfreys has a very remote chance of turning around under the existing leadership cohort......obviously he had to make statements to the contrary when recently asked why he sold his shares...what could he say....
The COO of Godfreys (Hardy's mate) has zero retail experience. He successfully managed to run their wholesale business into the ground.....great reason to promote someone to COO. Hardy is part of the old school and the old culture....that being a master of smoke screens and mirrors. He has been there long enough to make a difference....which hasn't happened. Still no new ideas/products from Godfrey's leadership.....its really quite pathetic. The only hope for the company is to take a broom to the leadership and find the right people who can bring new and innovative product and ideas to the business. The current leadership has demonstrated they cannot offer this...like all the others. I know easier said than done.....which is why I took my hiding and sold out.......
GFY Price at posting:
81.5¢ Sentiment: Sell Disclosure: Not Held
