JC- Ok , you say Banducci inherited a really bad leftover board...

JC- Ok , you say Banducci inherited a really bad leftover board from O'Brien days. if Banducci now wants to sack certain board members due to incompetence or suchlike, does that mean it requires a vote from shareholders to change the status quo?

in other words, are his hands tied?

ps- with the CTX, BP sale issue, you can"t say it was a 'dumb ' deal as you have no idea what the offer price was from CTX. the shortfall could well and truly have covered all the CTX JV problems by WOW going for the BP bid.

my own take is this- WOW have now a huge pocketful of cash and have disposed of loss making Masters and CTX petrol.
but still, the only way they can compete with COLES is ironically the only " ACE" they have left in their arsenal - price cuts or massive store refurbishments.

if same store sales at next results are still below 1%, and profit margin still in decline, then this little baby is not oversold as you say.

cheers crazypunter