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).
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.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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.
How does one get visibility on those financials to determine it has a cashflow issue ?
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.
That left me gobsmacked. I was under the impression that the last capital raise would be enough to see them through.
Originally Posted by winner69
Reply With Quote
Bookmarks