It is interesting as Hutchi gave up his CEO role as he believed he was not able to run a company of the size it had become, so he wanted to appoint someone more senior and experienced, yeah that didn't quite work out.
I am not so quick to blame Hutchi for CTEC as for all we know he left it in great condition, we do know the current board were not even talking to the project manager in their reviews so in the last 12 months it may have gone off the rails? Perhaps all partly to blame though.
I cannot however for the life of me understand why execs get a bonus for making an acquisition, which they call sales growth! It just encourages them to buy blindly and I have seen this first hand in an accounting firm, an overpriced acquisition was made, directors got massive bonuses, resigned 12 months later and 3 years on virtually not a single client was left form the acquisition!
FGE Price at posting:
91.5¢ Sentiment: None Disclosure: Not Held
