Hopefully they learn from that mistake and appoint a superstar with some industry experience this time.
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A common problem with the abrupt departure of a CEO, is that the financial results that follow are often a disaster (possibly priced into the market already in the case of Ryman).
Umbers fired.
don’t often wish for this sort of thing but have wanted him to move on for a while. Great to see strong board leadership here
Market close report
Ryman Healthcare was down 2c to an 11-year low of $4.32 following the sudden departure of chief executive Richard Umbers. Dean Hamilton will become the executive chair while a new chief executive is appointed. Ryman reaffirmed its full-year underlying profit guidance of $265m-$285m.
Sullivan said it’s never comforting “when you see a chief executive leave so quickly, and there must have been some unsettled conversations at the board level about Ryman’s performance.”
He suggested that a further capital raise may be in the offing as Ryman is building faster than it is generating cash at present. Ryman raised $902m on the market in February last year.
"Lessons from Ryman Healthcare"
https://www.nzshareholders.co.nz/scr...an-healthcare/
Ryman moving on from having a retailer as an CEO to having an agriculture man as CEO
Hamilton last exec role was with Silver Fern Farms ..turned that around
But apparently a good guy and well respected só Ryman in good hands . even though he doesnt seem to have had much impact have at Warehouse Group
Get behind Dean I say