MOV - Move Logistics (formerly TLL)

[Gerald]

https://www.nzx.com/announcements/435959

Nice high quality and detailed disclosure keeping the shareholders up to date with what is going on with their company

[winner69]

https://www.nzx.com/announcements/435959

Nice high quality and detailed disclosure keeping the shareholders up to date with what is going on with their company

Agree …but it’s confidential …….and probably large enough that it needs to be paid over 2 years ….and no doubt impacting profit (sacando abnormal non-operating expense eh)

[winner69]

The claim was $3.9m as per half year report

[nztx]

Agree …but it’s confidential …….and probably large enough that it needs to be paid over 2 years ….and no doubt impacting profit (sacando abnormal non-operating expense eh)

Profit$ or Red Ink$ ?

[Sideshow Bob]

https://www.nzx.com/announcements/436244

Transport and logistics group, MOVE Logistics Group Limited (NZX/ASX: MOV), is pleased to advise the appointment of Paul Millward as interim CEO, effective from 4 September 2024.

Paul has a proven ability to successfully lead businesses through periods of change. Most recently, he was CEO of 2 Cheap Cars, where he transformed the company into the leading NZX market performer in 2023. Prior to that, Paul had an exemplary career in sales leadership, finance and executive roles across several sectors, in New Zealand and offshore, with strength in building customer partnerships and developing strong leaders and teams who deliver.

Chair of MOVE, Julia Raue, said: “We are pleased to be welcoming Paul to the MOVE team. He has an impressive track record of delivering results and his leadership and passion for talent will be valued as we move at pace to reshape and streamline the business, adapting it for current market conditions, and making MOVE more efficient and fit for the future. Paul will provide strong leadership for MOVE as we accelerate our turnaround plans, following a period of disappointing financial performance in challenging economic conditions.

“The Board looks forward to working with Paul and the leadership team as we focus intently on improving the Group’s financial performance, and delivering value to shareholders, while continuing to provide great service to our customers.”

To ensure an orderly transition, current CEO, Craig Evans, will remain available to support Mr Millward and the business as required.

Julia said: “The Board appreciates the contribution Craig has made as CEO and his availability to support Paul in the coming months. Recruitment of a permanent CEO has been paused while the turnaround programme is underway.”

Annual Results Announcement Date

MOVE advises that it will be releasing its financial results for the year ended 30 June 2024 (FY24) on 29 August 2024.

[percy]

Paul Millward did a fantastic job turning around 2CC.
Tempted to follow him,however investing in MOV currently does not appeal to me.
Too much red ink.

[silverblizzard888]

Paul Millward did a fantastic job turning around 2CC.
Tempted to follow him,however investing in MOV currently does not appeal to me.
Too much red ink.

I was thinking the same thing when I saw the announcement, Paul did a great job with 2CC, time to see if hes able to work his magic there.