The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Peter Dilnot was the old CEO. Left a giant turd on his desk and disappeared off to Melrose I think. What a calamity.
Agree weakness at top has existed since Mike Averill (now a non-exec at Biffa) retired. A sequence of appointments lacking sector experience in a business where this is important. Current CFO has been in job for years now and suspect has still to report a successful year. Augean, with former Shanks Director as Chairman has also performed well.
I forget the name of the CEO who engineered the merger with the Dutch and then promptly quitted - what was his incentive to push that stupid merger - it shows the incompetence of the Shanks directors at that time and how many of them still exist - I know the ex Heathrow Airport Chairman finally was ousted but how good a job is the CFO doing ? I sense there is still weakness at the top .
Yes, invested for the long term in around 2008. The Board rejected an offer from Carlyle Group of 120p in 2010 because it “under valued the business” and it has been down hill ever since with ridiculous amounts paid to the Board for continual value destruction.
Obviously this forum has no immediate confidence in Renewi but what could be the situation in 2022.?
Does no one invest for the medium term .
Downward drift continues. That should be good for Board remuneration which moves in an opposite direction to shareholder value.
Could do with something to spark some life in here
Interesting sector consolidation looming. Let's hope it sparks some interest in RWI.
https://www.reuters.com/article/us-veolia-m-a-suez/veolia-aims-to-buy-suez-stake-as-prelude-to-planned-takeover-idUSKBN25Q0RQ
Actually it is a 10 year drift down and down accompanied by Board remuneration up and up.
Three month drift down and down and down.
Need something to spark share price.
AVG 18.6 waiting for lift off!
Imagine how much stock they would have learnt if they were even vaguely successful
No idea but thought I may try and ask that question at the AGM, albeit a virtual one. Have been told that it is not possible to attend either in person, which I understand, nor by any electronic means.
Crap management ; crap merger that destroyed value; crap incentives for top team that bear no relationship to value created! How can reorganising the deck chairs, flogging a couple of businesses and getting green light for ATM justify the largesse plied on the CEO and CFO. Total rubbish. What on earth is the chairman doing ffs
Agreed.
Unsure what the criteria are for share options for ceo and cfo, based on the recent options it would appear that they occasionally need to turn up for work rather than deliver
Annual report issued today. As has been the case for years, the Executive Directors remuneration bears no similarity to shareholder value. Obviously, no comparator for CEO as new appointment although suspect he will be happy with the £0.5m bonus. Remuneration of CFO is over 100% above last year for overseeing further value destruction. What will they get paid if we ever see value creation?
That was one of several chunky (not as a big as the above one though!) buys on Friday from 16:59:12, all at 23.40p.
A gap up on open on Monday does look very likely.
Would love 80p but this is nonsense.
Really need to show consistent delivery post vivid to merit this.
Great finish to the week, more to come next week
Broker target 45p
https://www.sharesmagazine.co.uk/news/market/6939863/Broker-Forecast-Peel-Hunt-issues-a-broker-note-on-Renewi-Plc
Message about Dutch PM visiting was none too subtle point that Renewi is viewed as strategic infrastructure in Benelux and has government support and backing.
The update showed to me that finally perhaps we have a chairman and ceo combo that gave real ‘grip’. Very Business-like, action-oriented and decisive. Scary headline about relaxation in covenants suggests that they aren’t assuming we’re out of woods on C-19. Frankly as good as it gets. I think that the share price should settle in mid 20s and that we will see more institutional buying now. Slightly whiffy that there was so much volume ahead of this as s/o seems to have been dumping wholesale and no short interest here....did they know an update was coming? Any way I think fearful followers can now dip back in and watch the sp move up 20pc
A solid, flashy, sensible update and management action. Back to breakeven!
Nice
I would assume from that update that the share price here is too low.
https://www.lse.co.uk/rns/RWI/renewi-plc-covid-19-update-flftzeaz6gtak6g.html