Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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I think we have to wait and see if the SEC see this as a mistake? CEO's can't bury their heads in the sand. They get the big bucks for being in the hot-seat and they are accountable for what happens within the business even if they themselves are not directly responsible for the issue itself.
It's a fallacy to think the ceo must be hoisted from his position because a mistake/problem in the company has happened, any disgruntled employee would have the power to remove a ceo if it were the case. The only time a ceo should be removed is if he was aware of the problem and did nothing or acted inappropriately
Starting the buyback program at the end of May is a great boost in confidence to investors waiting on the side lines. Time to get back in?
If BARC need to "restate" 2021 profits in the US as a result of the overselling then it's difficult to see how Venkat can distance himself from that? He was captain of the ship when those numbers were posted so he and the CFO are culpable. If the regulators conclude "honest mistake" then they will breath a sigh of relief but If it's deemed as something more sinister then Venkat, and others may have to "step down"? If 2021 Profits do need to be restated then share holder returns MAY have to be reviewed which may be part of the reason for delaying the buy back? I really don't know enough about the rules or guidance on this but perhaps some others on here do? I guess the key then is how quickly the regulators pass judgement. Q2 is marching on! All IMHO of course.
Thanks JayK, I agree with a lot of what you say. Thanks for clarification.
JayK, so are you suggesting that the 'storm' we are currently in is as bad as it is gonna get? Next question would then be, "how long will the 'storm' last?" == *No I am just saying we are currently in the storm, I am not saying it might not get any worse, but what I am saying everyone seems to be waiting for a bust, but I don't think its going to be like that, it could get worse but depends on conflict and fiscal policies, it could also be a good opportunity to buy if it doesn't get any worse.
PS I'm not sure what you mean by 'UK stocks are down at Brexit levels'...the charts I have seen suggest UK stock market is near all time high. = **Markets always go up, continued growth etc, so I would expect them to be higher than 2016, but individual stocks are low, especially Barclays which is around Brexit Levels. Markets are struggling to make gains**
PPS Did you mean 'Bust' instead of 'Boom'? - **Yes Sorry**
Bob Diamond (2011–2012) for me.
But only because I like calling him 'Sparkling' Bob Diamond. In reality the bloke was 'Swiss Toni' with an American accent!
"We are already in the storm,.... but I do not sense an impending boom, UK stocks are down at Brexit levels, that was a pretty substantial drop....."
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JayK, so are you suggesting that the 'storm' we are currently in is as bad as it is gonna get? Next question would then be, "how long will the 'storm' last?"
PS I'm not sure what you mean by 'UK stocks are down at Brexit levels'...the charts I have seen suggest UK stock market is near all time high.
PPS Did you mean 'Bust' instead of 'Boom'?
Matthew Barrett (1999–2004) for me
We are already in the storm, the markets are down, stocks are down and are unable to recover. However most markets are sideways at the moment, yes we could go further down but I do not sense an impending boom, UK stocks are down at Brexit levels, that was a pretty substantial drop. Markets need reassuring, soon as they do there is some money to be made. Fingers crossed its sooner than later, but I do think for investors now is a time to be buying rather than selling shares of stocks IMO.
MrA, I'm doing OK thanks. Beginning to baton down the hatches because I sense storm clouds on the horizon. Hopefully things wont get too bad. But like the war in Ukraine, nobody knows how it will end.
Hopefully things are going well for you now.
It is good to see you haven't given up on BARC.....yet!!
For the record the position of Group Chief Executive was formed in 1992; prior to that, the Chairman was also the de facto Chief Executive.
Andrew Buxton (1992–1993)
Martin Taylor (1994–1998)
Sir Peter Middleton (1998–1999)
Michael O'Neill (1999)
Matthew Barrett (1999–2004)
John Varley (2004–2010)
Bob Diamond (2011–2012)
Antony Jenkins (2012–2015)
Jes Staley (2015–2021)
Choose your favourite from this list…. Just like the Grand National ehh?
bald_eagle, with the repetitive “success” of CEO appointments I can’t help but think of that famous line of “If you think it’s expensive to hire a professional, wait until you hire an amateur.”
From The Wolf of Wall Street… at least I think so?
I hope you are well my friend.
I don't think things work that way. The CEO doesn't fall on his/her sword unless directly involved or for a cover up. Venkat could also probably argue that the governance regimen was set up prior to his arrival. It is now about damage limitation and trying to stop it happening again.....until the next time.
It is something we have to live with as BARC investors....it brings 'excitement' to our otherwise dull lives, BARC investing is a rollercoaster of fun!!
The over-issuance of securities in the US happened on his watch. Has he ever spoke on it?