ATM - A2 Milk Corporation Limited

[bull....]

Shareholders Association chief executive Michael Midgley said it deplored A2's handling of the hiring and stepping down of Hrdlicka.
She knew A2 was a "worldwide company" when she took on the job, he said.
"It should not have come as a surprise that there was going to be a lot of travelling.
"The A2 board must be held to account. If there are any outstanding payments, other than base salary to the resignation date, then the board must use every legal avenue to deny them to Hrdlicka," he said.
"We would expect the A2 board to have had a catch-all 'board discretion' clause in the contract that will allow this. If not, this in itself is a glaring omission."
It was disappointing there were confidentiality provisions in relation to her departure, he said.
"'Confidentiality' is a very convenient excuse in these situations and may obscure other problems that shareholders have a right to know. As it stands shareholders will have every right to wonder if their money is disappearing into a confidential black hole."

https://www.stuff.co.nz/business/far...hief-executive

the afr article is very informative , its the board not jane

[Balance]

[FONT="]Shareholders Association chief executive Michael Midgley said it deplored A2's handling of the hiring and stepping down of Hrdlicka.[/FONT]
[FONT="]She knew A2 was a "worldwide company" when she took on the job, he said.[/FONT]
[FONT="]"It should not have come as a surprise that there was going to be a lot of travelling.[/FONT]
[FONT="]"The A2 board must be held to account. If there are any outstanding payments, other than base salary to the resignation date, then the board must use every legal avenue to deny them to Hrdlicka," he said.[/FONT]
[FONT="]"We would expect the A2 board to have had a catch-all 'board discretion' clause in the contract that will allow this. If not, this in itself is a glaring omission."[/FONT]

Two perspectives
[FONT="]It was disappointing there were confidentiality provisions in relation to her departure, he said.[/FONT]
"'Confidentiality' is a very convenient excuse in these situations and may obscure other problems that shareholders have a right to know. As it stands shareholders will have every right to wonder if their money is disappearing into a confidential black hole."

https://www.stuff.co.nz/business/far...hief-executive

Hearn insisted the board was right behind Hrdlicka’s strategy to ramp up marketing spending to help build the brand on the ground in China

But where Hrdlicka has been prepared to sacrifice margin to get there, it appears that the board feels less sure about that part of the plan.

https://www.afr.com/chanticleer/behi...0191209-p53i2b


the bull was right .. the board got cold feet and has lost the plot

Fascinating how AFR has a very different perspective to the pitchfork brigade ready to lynch Jane!

So who's right?

[silu]

the afr article is very informative , its the board not jane

Which makes the Board seem a bit incompetent.

[bull....]

Which makes the Board seem a bit incompetent.

ya . have to remember it was geoff that wanted jane as ceo not the board. the boards got cold feet with her strategy s/h will pay long term for there mistake

[Balance]

ya . have to remember it was geoff that wanted jane as ceo not the board. the boards got cold feet with her strategy s/h will pay long term for there mistake

http://nzx-prod-s7fsd7f98s.s3-websit...669/313611.pdf

Nice enough package for Geoff - interesting that the bonus is entirely at discretion of Board.

[silu]

ya . have to remember it was geoff that wanted jane as ceo not the board. the boards got cold feet with her strategy s/h will pay long term for there mistake

I will have to rethink my investment in A2 Milk then. As a long term investor I agreed with Jayne's strategy if they want to grow the business. We don't have many businesses that technically could operate in every market on the planet so we need a Board that has a vision and the strength to execute.

[sb9]

ya . have to remember it was geoff that wanted jane as ceo not the board. the boards got cold feet with her strategy s/h will pay long term for there mistake

I pretty much doubt if the decision to hire Jayne was entirely up to Geoff. He probably liked her credentials and endorsed her based on what she offered at the time of interview and further discussions.

Having said that the Board need to make sure that they don't screw things up again.

[Beagle]

http://nzx-prod-s7fsd7f98s.s3-websit...669/313611.pdf

Nice enough package for Geoff - interesting that the bonus is entirely at discretion of Board.

Best thing about that is his term is indefinite. Maybe he will get a second wind of energy at his age and keep running the company ?
He a wealthy man and probably bored ****less with his retirement already. There's only so many drinks you can enjoy at the 19th hole of golf courses, (so to speak), before a driven man looks to get his teeth into the next challenge.

[bull....]

I pretty much doubt if the decision to hire Jayne was entirely up to Geoff. He probably liked her credentials and endorsed her based on what she offered at the time of interview and further discussions.

Having said that the Board need to make sure that they don't screw things up again.

geoff wanted her and the board didnt want to endorse her at the hire . since it was geoff company board would have done what he wanted at the time

[RTM]

Best thing about that is his term is indefinite. Maybe he will get a second wind of energy at his age and keep running the company ?
He a wealthy man and probably bored ****less with his retirement already. There's only so many drinks you can enjoy at the 19th hole of golf courses, (so to speak), before a driven man looks to get his teeth into the next challenge.

I've been retired sort of since 58 and never got bored yet. Never.
Take care not to attribute what might be your attributes to others !
I doubt he's been sitting on his hands.