Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I read the same article Beza, they mentioned World Quant but WQ closed 65% of its short position in Ted since the beginning of this month, now they are down to 0.48%
I read at the weekend on Thisismoney.co.uk that Ted is one of the companies being targeted by the shorters. It quoted who but I can’t remember off the top of my head.
Hawfinch,
I agree with you with regards to Ted freezing in the headlights of the Brexit downturn and getting stuck ....and the sheer size of competition in the sector.....I am sure Osbourne will be looking at each store location,turnover etc and deciding on whether to close any, depending on the lease agreement etc. I think the industry aslo has to factor in bankrupcy possibilitis amongst some of their suppliers as the situation hiits them hard too.
It will certainly be interesting to watch how Julian Dunkerton fairs at turning around Superdry against say Osbourne's attempts to turn around Ted Baker. Looking at Superdry I dont think even Julian can turn things around without considerable acumen around him despite his previous experience in a sector that has changed rapidly in a relatively small space of time.
Whether it is Ted or Superdry, getting through this is going to be a real team effort, and no one individual is going to have enough skill or experience to do it on their own... it will be the quality of the team and how they are managed that will be just as important as anything
Maybe we will see "SuperTed" emerge from it all, as one or two people have suggested !
Hawfinch
With respect, even if I didnt know the "latest trends" do you seriously think that any CEO in a company anywhere doesnt have the ability to "out source" the request for that kind of insight .... I would suggest that no CEO personally keeps up with "current trends" in their industry or sector and constantly has advisors and teams who do that and provide reports and insights directly to the CEO
Of course someone like Osbourne understands the importance of omni-channel and a CEO would look to their digital Director to run that aspect of the business
Dont forget that there is a BOD here and NEDs too.
The CEO has to have the ability to use all of the team and manage them and make the key decisions.
She has a lot of brand and retail experience from the finance side of things and I dont know if you really know the involvement of a Finance Director in terms of being fully aware of the operational part of the business anyway.
You can be sure she has gone through the balance sheet line by line and already given strong suggestion of how to align it for the next two years or so....
I strongly believe right now is the moment to have someone with financial know how and put around them the designers,etc
The Chairperson is the person who will have the retail connections that you talk of.
They are the ones that will do the networking and poaching etc and talk to the City etc about any fund raise if required.
"This is a huge task for someone who has never held this position before."
Rachel Osborn has more than 20 years of relevant brand and retail sector [Debenhams, Domino's Pizza, Vodafone, John Lewis, Sodexo, Kingfisher, Pepsi]
Sharon Baylay, Acting Chair of Ted Baker: "She has brought hugely relevant retail and customer experience and is ideally positioned to lead Ted Baker's turnaround in the future."
Osbourne is very good, and very competant. She ranks along side the likes of Kate Swann to me. Someone who is able to look at the list of problems and through that create a clear action plan and organise a team to acrry that out.Osbourne and Swann arent full of ego and arrogance but are no nonsense managers who just get on with it and get things done and make decsisions.
She doesnt need to have clothing experience. That isnt her job. Her job is to delegate, manage, communicate and lead.
She has a buying team, a design team to advise on the clothing side.
Having good finance background is probably of better use than the clothing experience.
She wont exactly be clueless with regards the needs to be cautious on stock levels for the foreeable future.
She will get strong and experienced advise when she requires it
All my opinion.
They were lucky to get her in my view
Appointment of Chief Executive Officer
Ted Baker, the global lifestyle brand, today announces the appointment of Rachel Osborne as Chief Executive Officer.
Rachel, whose appointment will be effective immediately, has more than 20 years' of relevant brand and retail sector experience. She joined Ted Baker as Chief Financial Officer in November 2019, before being appointed as Acting Chief Executive Officer in December 2019.
Rachel joined Ted Baker from Debenhams, where she had worked as Chief Financial Officer. Previous roles include Chief Financial Officer at Domino's Pizza Group plc, Finance Director of Group Enterprise at Vodafone and Finance & Strategy Director at John Lewis. She has also held senior positions at Sodexo, Kingfisher and PepsiCo.
During her short tenure at Ted Baker, Rachel has been leading a significant period of change and transformation, including the development of key strategic priorities and the announcement of the sale and leaseback of the company's headquarters at a significant premium to book value.
Further to the appointment of Rachel as CEO, the Board confirms that the search for a Chairman is progressing well. Sharon Baylay will continue to lead the Board as Acting Chair in the interim period.
The Board also confirms that Jennifer Roebuck, currently a non-executive director on the PLC Board, will be taking up her previously announced leadership role of Chief Customer Officer (CCO) on 1st April and will therefore be stepping down from her non-executive position on the PLC Board on that date.
Sharon Baylay, Acting Chair of Ted Baker, said:
"Following a thorough and competitive search process, the Board is delighted that Rachel is being appointed as Chief Executive.
"Rachel has already made a significant contribution to Ted Baker, working tirelessly in recent months to develop a transformation plan for the business. She has brought hugely relevant retail and customer experience and is ideally positioned to lead Ted Baker's turnaround in the future."
Rachel Osborne, Chief Executive Officer said:
"The time I have spent at Ted Baker has quickly confirmed to me what a special business this is. We have challenges to face into in the coming months, not least the significant uncertainty caused by COVID-19, but I am confident that we will succeed through the hard work of our colleagues and the strength of our brand.
"Over the last few months we have put together a clear plan to transform Ted Baker and ensure its long-term success. I look forward to leading the business through this critical period of change and seeing the benefits of our plan come to fruition."
The Company confirms that there is no further information to be disclosed under the requirements of Listing Rule 9.6.13R in relation to the appointment.
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