I hear John Penno is already back going through every department asking awkward questions..
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I hear John Penno is already back going through every department asking awkward questions..
For those interested in the RMA/property law aspects of the Supreme Court decision there is an article in the April edition of the Resource Management Journal published by the RMLA (Resource Management Law Association of New Zealand Inc)
https://rmla.org.nz/product/rm-journal-april-2021/
SML share price action not too bad today on a sour milk day
I disagree here, if John Penno is a director then he is responsible for governance. They set the direction and the strategies for the company. Management then implement these strategies. It is management's responsibility to ask the questions. Therefore good to hear that he is doing what we expect of management.
It is the job of the board to hire (and fire) the CEO as well as review the CEO's performance. Given that Leon (as far as we know) went on his own volition does it appear the board was well asleep over the last 3 years or so.
They hired the wrong man and they didn't notice that for two and a half years despite plenty of red (or should I say pink?) flags waving in the wind.
Pretty sad, isn't it?
While I used to like and respect John Penno as CEO - he clearly did not perform as part of a weak (or sleeping or both) board. Lets hope for Synlait that they stop at some stage to follow A2 and its depressing example ...
milk sour all round
Attachment 12493
my atrociously-drawn lines on the monthly chart suggest 50c or lower target price..! Attachment 12495