Much fanfare was made of the appointment of Adam Harry as COO of DGX to start Jan 2016, and the SP responded favourably:
https://au.news.yahoo.com/thewest/wa/a/30107814/diploma-up-on-harry-hire/#page1
But the Diploma website makes no mention of him, and Adam’s LinkedIn page does not reference DGX at all:
http://diploma.com.au/About-Us/Board-of-Directors.aspx
Do any HC members or DGX shareholders know if Adam is actually the COO?? (Apologies if I’ve missed an announcement, but I haven’t been able to find one).
It’s difficult to understand how someone with his vast experience could allow two projects (Perry Lakes, Yanchep SLSC) to be terminated in quick succession, and why he would be involved in the peculiar request for trading suspension due to issues with “carrying value of inventories”.
If he's not on the board, DGX will just have the founder’s family members as the CEO and CFO.
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01713109
Compare that with the sound structure of the Board post the IPO (pg 9).
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00889811
Time will tell if nepotism is the best strategy for company survival and providing returns for the shareholder’s.