The current management team needs to be replaced. The CEO has had his opportunity in the last 10 years. His financial controller has sat around and not done anything. The share price is terrible. How long are people going to put up with this malaise?
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Needs a clear out at Board and executive levels.
Totally understand 100% 👇
But comes point when enough is enough
10 years in the making. No pun intended
It sounds like you're quite frustrated with the current management team. Here are some points to consider:
CEO Tenure: Long CEO tenures can sometimes lead to stagnation and resistance to change, which can negatively impact company performance. Fresh leadership might bring new perspectives and strategies that could revitalize the company.
Financial Controller's Role: The financial controller is crucial in overseeing the company's financial health, including managing accounting operations, preparing financial reports, and ensuring compliance with regulations. If the financial controller isn't performing these duties effectively, it can significantly impact the company's financial stability.
Share Price: A declining share price can be a sign of underlying issues within the company, such as poor management, lack of innovation, or financial instability6. Shareholders often demand changes when they see their investments losing value.
Management Performance: High-performing teams are characterized by trust, cohesion, shared goals, and effective communication. If the current management team lacks these qualities, it might be time for a change.
Ultimately, the decision to replace the management team lies with the board of directors and shareholders. They need to assess whether the current leadership is capable of turning things around or if new leadership is necessary to drive the company forward.
This is an annual post that has a decade plus run. No vision, no leadership, no standards. Just real good at talking to wall street. That's the only thing they do well. You can't lose money for essentially a decade straight without having the board and wall street backing you. NOV is the only place where that level of incompetency could be tolerated.
Unfortunately, all those factors are not of any importance to these incompetent individuals. You are right, the Chief Elfecutive has had 10 years to make this company better. Just look at his goofy profile picture on the website, chucky should have been fired 6 years ago. The rest of the folks are just minions. Only the shareholders could actually do something, but they won't.