Roll in the new CEO David Lenz (literally), who mentions in his address that he will keep the communication up.
Well one has to question the ethics and transparency of the new CEO and lets not let the chairman get off scot free here either.
After decimating this business with employing the totally incompetent ex Telstra executive Ted Pretty as CEO, Hills are now to retrench people, the very foundation of their business only to redeploy the same positions in India
After the close of the AGM, this supposed great Iconic Australian company has made a decision to send all the accounts and IT support staff to India.
How pathetic is that, that the week after the AGM they make this advise to staff??
Couldn't the CEO have grown a set of Kahunas and done it before the AGM? No, obviously his Kahunas aren't big enough to then cop the wrath from shareholders.
Absolutely gutless and pathetic form from the new CEO.
This is the great Iconic Hills, that have manufactured product, built a great brand name, were a name in every Australian household, were as Aussie as Vegemite and had support from the Australian people as consumers, supporters or employees.
Has this company totally lost the plot? Why would or should Australians now support your business?
Have a read of their AGM address, what a load or ROT and SPIN, as they are building their key initiatives around 4 pillars.
Have a look at two of them,
1. Our people - does that mean "our people" that we make redundant to push their jobs to india?
2. Organisational Excellence - so india will add the finishing touches to excellence?
It is believed that more workers will be offered redundancies whilst India reduce their unemployment rate thanks to this "once" trusted and "once" great iconic Aussie organisation.
Rest in Peace Hills, if you haven't died yet, with decisions like this, you are well and truly down the track!!
Back to 30....... woof woof
Cheers
Cheers
HIL Price at posting:
57.0¢ Sentiment: None Disclosure: Not Held
