The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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" Du Plessis has only been at BT for 4 years "
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Was taken aback in the RNS stating he joined in 2017. I thought I'd been interested in BT less than that but I had been here a good while already as I witnessed Du Plessis arrive, so am personally shocked that I've been here 4 years now going on 5 years. I still regard myself as a new boy arrival LOL! Time flies.
Can't believe when my first trade in BT in the 280's was made, that I was only one year into the great 5 year bear trend. Memory seems to make me believe it was years later I came to BT. So many stocks so many dates.... Cue song: Memories...
"Great news, should've happened at least 5 years ago."
Haha Du Plessis has only been at BT for 4 years, are you saying he should have left before he started? Apparently a time paradox can be Universe ending!!!
Hey Velo, I think a rerating for UK stock is on the cards - UK now forging ahead in terms of vaccines while the EU is still scratching its arse - UK will be first to turn growth around - you can see the pent up demand for holidays already filtering through, best part about it is the holidays are mostly UK (me and mrc c booked one for June in the UK last night) this will fuel the growth even further as it keeps the proceeds in the UK - ALL my portfolio is in UK stocks with BT making up around 15pct of that - I am very confident in BT going forward and will add on significant drops - agree with Fleccy re possible mergers - far too many telecoms players in europe imo compared to the states - let's see
dyor etc
Blue abounds. Loving the response in my portfolios this morning. Thoughts of the many articles on the UK being so undervalued as a market that a good punt for a general rerating come to mind. Helluva an upturn across the board so far :)
What I'll be interested in, is seeing how fast the replacement is announced, and where they come from. It's possible this is scripted, and everything's in place for a quick known replacement. Sometimes a change of Chairman, or CEO, pre-empts takeovers or mergers, although I couldn't imagine any company being allowed to takeover BT, a merger is a possibility.
Bt is up this mng but underperforming the large rebound in ftse today. So sounds like mkt hasn’t had any effect on chairman leaving
FTSE has opened generously bullish this morning across the board, thus muddying the waters, as most stocks responding well so far.
"I know the time is now right for me to step down and FOCUS ON OTHER INTERESTS ..."
I did see that, but businessmen, like politicians, will always keep their options open. There is another possibility, that he may have been pushed out by the board. Although there's been no publicity around strategy disagreements, in BT's case, it isn't beyond the realms of possibility.
Velo
"Be interesting to read any media musings on the departure. If the board are sorry to see him go why has the market/SP responded positively on hearing the news?"
FTSE up 1.7% = I think "all ships"
On the one hand he says: "... I know the time is now right for me to step down and FOCUS ON OTHER INTERESTS ..."
- Suggesting it's not retirement at all, but then Cohn says the board are: "Sorry to see him go".
Be interesting to read any media musings on the departure. If the board are sorry to see him go why has the market/SP responded positively on hearing the news?
"Maybe they view it as an honourable 'falling on the sword' moment?"
He is 67, maybe he's simply decided it's time to hang up the work suit, and get the fishing tackle, or golf clubs out instead. Sometimes people decide to retire because they're tired, and realise that life is short.
Early minutes live prices show SP off to a bullish flying start. Maybe they view it as an honourable 'falling on the sword' moment?
Thanks for the heads-up on that DonaV. J
Jan Du Plessis's main claim to fame whilst at BT will probably over time go down as:
"Headed up an aggressive removal of an under performing CEO, and the mishandling (bad press; preferred choice candidate's much publicised boasting and sneering account to media how he delighted in turning down approaches by BT ) whilst overseeing the appointment of a new CEO.
Positive news? Let's see how the market reacts to this.