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MSM, good point there. The new CEO appointment does not inspire confidence. Appointment of a CTO board member would be a step in the right direction!
Agree CEO appointment was a complete let down. This company needed someone with a technology background, someone who had a record of driving digital transformation in a similar company. All that time to find a CEO and they announced someone from Costcutter which probably had little to no digital presence. For me thats the bigger concern in the long run. I hope the board recognise this and can bring someone in to assist the CEO with executing the online strategy.
Sorry for the annoying autotext ******...
Yes, Moody does appear to be selfish serving. Getting rid of the previous CEO wouldn't have been a trivial exercise so I'll give him the benefit of the huge doubt for now... Sadly, she had all the retail wisdom of a codfish, and joins the increasing number of girls who have failed in the top jobs. Maybe time to join Ursula in EU?
Her holding was sizeable in comparison to any of the other management team.
I don’t disagree that she was not up to the job, and was totally focused on opening new stores, spent too much money in the wrong places, instead of diversifying and increasing the online sales. She seemed to last a long time for a poor quality CEO. What was the rest of the Board doing, whilst the ship was sinking? If this was the case, why did Moody not do anything about it, he just sat there for over a year. He arrived in October 2018 and waited until June 2020. Why not act in 2019?
This demonstrates with a poor CEO, they still managed to generate sh.t loads of money, just imagine the potential with a brilliant CEO.
The dividends awarded were also high, had they kept some of this back, they would have had more money in the war chest.
Cardinvestor......you say you follow this company in intricate detail yet you say the ex CEO owned alot of shares. No she didnt unless you class "alot of shares" as a less than one years salary. Show me the source information from the company that she ate her on cooking. She did not deliver. She spent s/h money on new openings instead of not levering and being prudent. she was low quality. as for the chairman, i probably agree....they have been slow to react but equally......and can we sing in synch.......the damn country has been closed....what did you want him to do?
this looks like a refinancing because the rns said refinancing and not an equity raise. Set it and forget it and dont trade it. Just look at the price of this in 18 months time and you will be pleasantly surprised.
I have been in and out of Card since March 2020.
I have profited and lost selling Card over the last year. I am still in profit but exited this week.
I have followed this share regularly for the last year and whilst I believe the Company was and could potentially be a really good profit generating machine, paying good dividends as in the past, the current Management, primarily the Executive Chairman Moody, has shown his true colours. I invest in companies and the management team, but until Moody is removed from the Company, I am reluctant to reinvest.
As an ex owner of a private multi million pound company, Moody’s grip of the situation, is absolutely p.ss poor. It has come clear to me that he manipulated a situation where the previous CEO was removed from the company, in order for him to facilitate his own personal gain. If Hubbard was so poor, why not eject her before the pandemic! He used the pandemic to remove her. She owned a lot of shares and it was always in her interest to deliver to shareholders, being a sizeable one herself.
From what I can see Moody has never invested his own money. He has had the last year to pick up a bargain, unless he knows something the market have not yet been told about. He then went about awarding himself a circa additional 180K remuneration , to find a new CEO and baby sit the company, whilst this was being done. It took him 6 months and then found our new CEO, which to be honest I am not inspired by. The RNS that was released before the end of the year introducing him, what absolutely sh.te. Why tell the market that he was at Clinton Cards before they closed it down! What sort of message are you trying to tell the market! If this is the best Moody could do with so much skill out in the market, how hard did he look!
It is ridiculous to think that Moonpig recently launched at over a billion + and Card which turns over double and produced profits up until this year, which were consistent and sizeable, are worth less than a tenth of Moonpig!
I’m afraid if CARD had the right management team, this last year could have been so different. I understand that the loyal customer data base like to shop in store and this will return. But in the meantime, go out and aggressively capture the online card market, and take down your competition ie Moonpig and the others. They are a vertically integrated company, producing their own merchandise at a fraction of the cost to their competitors. It does not take an Einstein to realise that with a little bit of effort, Card could of made huge inroads to this market, and then retained their existing clients, plus the third party deals, once business returns to normal.
Moody needs to go, he needs to be sacked and return his remuneration received. He is not worthy of the position. The new CEO needs to be replaced before he even starts, unless he has been brought in to close it down.
I like the company, I can see potential, but with