Okay, lets go there mate. Here's how I see it. I know others will have a different point of view and that's fine.
Its an extremely volatile share so I think any analysis of the share price over her tenure should be based on a 90 day VWAP to smooth out the very volatile nature of the share price. For example in February 2018 it hit $14.70 in intra day trading so it all depends upon your frame of reference.
Looking at the chart for the last 2 years I would infer an approximate 90 day VWAP of about $12 before she was appointed and approximately a $14 90 day VWAP in her last 3 months.
If you smooth out the volatility it could easily be argued she added nothing as 14/12 = 16.7% gain in 18 months and in that period the NZX50 went up approx. 25%.
Any analysis of her performance whether its based on spot prices or VWAP must be measured in the context of the NZX50 as its clear with the substantial decline in interest rates in the last 2 years PE multiples have expanded.
I think she created nothing and simply built upon the momentum that was already clearly evident in the business under Geoffrey Babbage's excellent leadership.
It is abundantly clear and an undeniable historical fact that sales and eps growth slowed considerably (compared to previous rates of growth) under her tenure.
I argue she created no value under her term and any attempt to justify her remuneration based on a percentage of value created is spurious at best and conceptually fundamentally flawed without a comparison to NZX50 relative performance.
I'm going to leave it at that.