Should've gone to Specsavers.
Printable View
Post removded.
Topped up today. Couldn't resist
So Michael Framptom (HR guy who was also given COO responsibilities) has been sacked.
They have not alerted the media like they did for Tex for whatever reason...and if Sky were ever asked I am sure they would spin a good line.
But I have it from a very reliable source that this guy was way out of his depth. The guy before him (Chaz Savage) had a lazer like focus on the key numbers needed to drive the business...but Mr Human Resources COO-wannabe Frampton was more worried about ticking the diversity score numbers.
Wtf.
I haven't been to the campus in a while but I believe they have painted rainbows all over the f*cking parking lot. Just ripping the ring right out of it now after the alleged sexual misconduct. Alleged being the key word here - I am not aware that anything has been proven.
What is going on at Sky right now, and how management and The Board are slow to release on initiatives that actually will drive shareholder value...all the while running Sky into the ground is just heart breaking.
The fundamentals are there, we should be doing much better than we are - and should have had a deal put together by now.
It is just insane what these guys are doing. They finally woke up and gave Frampton the boot, but Jesus Christ...how could they let things get so bad with this guy before they sent him packing?
All we can hope is they find a replacement COO that actually knows what he is doing.
It is also a fact that a formal offer by Private Equity was sent to the Board in June.
The fact that Philip Bowman stood there at the AGM and lied/misrepresented the facts about it is reprehensible. How can he treat his shareholders with such contempt?
It is equally a worry for the Board now that Philip has done this...because they have not come out publicly to correct it. If there were ever an investigation, I think that makes them equally on the hook.
A formal offer was given to The Board - I know that Joan Withers (probably the most shareholder-friendly and certainly has the most experience on The Board) was in favour of pursuing talks. But Philip Bowman overruled her and shut it down.
Then I ask him point blank why he rejected a 23cps offer out of hand without even trying to negotiate, and he decides it is a good idea to make out that no formal offer was given, only a highly conditional "approach" and that I am essentially discussing a hypothetical situation.
Well, I know that this is untrue - nothing hypothetical about a formal offer they received and briefly discussed in a Board meeting.
If the Board are reading any of these posts I think it is in your best interest to come clean before it is too late.
Dodgy Bowman (Pooman seems to be the preferred name now - thanks Ogg!) needs to resign immediately. Not only has he blocked possibilities of deals, but the infamous Capital Raise was his brainchild. He has overseen the destruction of an enormous amount of shareholder wealth over the last two years, continues to destroy shareholder wealth...and now is not even living in the country.
Not acceptable at all. If I don't see his resignation next week I am seriously considering approaching the NZX about the misrepresentation he made.
Hey mistatea - why do you still hold SKT if that is how you feel ..... hardly seems worth the grief it gives you
Sell up and be free of such grief
And replacing Pooman with someone like Mike Darcy is not an option either as far as I am concerned.
This clown has been on The Board for 6 years yet has only attended about 8 meetings from what I understand!!!
No thank you.
If the choice was mine, I think Joan Withers needs to take the role - she is by far the most capable person on that Board. I could almost guarantee you that if Joan took over, shareholders would be presented with a favourable deal within 6 months.
I think Keith Smith is Deputy Chairman...not clear from the website. Not too sure about this guy - but Joan would seem to be the best bet.
The fundamentals are still there, and I firmly believe my business is undervalued considerably.
I will not sell because my Chairman has told me a porky. But I will share what I know with others, and give him a chance to resign.
PE will still be interested in buying Sky TV.
Just need to remove the obstacles.