What a shocker - Leon has packed a sad and leaving
And Synlait falling into the A2 trap of bring back the previous CEO as a caretaker. A directionless painful period coming up for Synlait I reckon
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What a shocker - Leon has packed a sad and leaving
And Synlait falling into the A2 trap of bring back the previous CEO as a caretaker. A directionless painful period coming up for Synlait I reckon
Under Leon Clement Synlait has been very inclement. Glad i sold out at $11.
Leon was just unlucky in his few short years at Synlait
Going to see if he's luckier elsewhere I suppose
I think you meant to use this link: https://www.nzx.com/announcements/370464
... or did you wanted to imply that they washed him away?
On a second thought: this hand sanitizer might come handy to clean out the company after Leon's departure ... though I doubt it will help to remove all the pink colour.
Jeez - just imagine repainting all these trucks and buildings in some more successful colour ... this might be costly.
Leons achievements ... ???
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Sad. Did Leon really start in September 2018? This was when the SML SP reached all time Highs well above $12 Now the same share trades around $3.50.
They say it takes normally 5 years for a CEO to change a companies fortunes. The direct correlation with CEO tenure and SP drop in this case is frightening - i.e. either Leon was very effective and fast or very unlucky.
I am sure it is just an unfortunate coincidence and bad luck.
You could call it unlucky or the lack of prudence on his decision making on how capital was used. There were a few acquisitions that never really brought the company forward at all, changes that could be highlighted in 'pink' that seemed to distract the focus of the company and when they hit a rough patch it was merely like pulling a loose thread.
Something doesn't smell right. 3 weeks notice to leave a position like CEO is very short. Its also very strange to provide an outgoing CEO list of achievementsas a public notice. I wonder how much regret there really was in accepting his resignation.
...and only a few weeks after the 'Director of Operations' resigned as well