If it was a shock to the Board they might not have received 3 month's notice and certainly wouldn't have announced the new appointment on the same day as the resignation.
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i decided to sell all my holding , invested to fellow mouter which proved well rewarded. might come back in time once see how company goes now
Not really unexpected as we're betting that when he came on board then, he will be staying for just 5 years. He lasted 7 yrs and all those years was just to let the bottom figure shine by reducing staff almost every 6 months so those on the top can collect their bonuses.
disc: took the company to mediation when I was made redundant and I was happy with the result :t_up:
you have to adjust any company to the times even if it means removing staff unfortunately im sure he doesnt enjoy doing it but his job is to ensure the company is fit for purpose.
anyway in my eyes this was a sudden departure not a talked about transition , i have listened in on numerous results calls and never recall hearing moutter say he was leaving soon in any of them. so in my eyes we now have a un proven person in the role of ceo running a big company in a huge year as far as there new strategy goes. considerable risk has been added now to any bad outcomes.
Jolie Hodson has been with Spark for six years, and in that time was CEO of the Spark Digital unit before everything was consolidated, so not entirely unproven. But as you say, big year for Spark so she has a challenge ahead of her.
I hate to say this, but I really hope that Spark, in its big push for diversity over the past couple of years, hasn't chosen Jolie in part because they thought having a female CEO would look good.
Time will tell ...
Disc: Employee, hold a small parcel (sold most off in the past five months)
im calling 4.25 area as the top now and recent action suggests a downtrend has commenced , next test recent lows around early 3.50s , big pivot area 3.30
I see very good value at current price, yield 6+% and Spark is growing (cf other yield plays on nzx) down trend and momentum is not in our favour though. I'm buying a few at current levels, should return to $4