Does the RNS this morning change things for me?29 Jul 2021 09:30
It is pretty clear that Graham has become a bit of a marmite character on the board this morning. There are people sorry to see him go and people whooping and hollering with joy that he has been 'pushed' or whatever. The reality is that we don't know and it is (as usual) all speculation.
I can understand why a guy at his age, having navigated through what must have been an incredibly difficult 18 months, might want to retire. Can you imagine dealing with supply chains, recruitment, scaling up manufacture, acquiring a company and so on and so forth. It must have been exhausting. He's not going immediately, so my own personal view is that he has probably not been 'pushed' and that there will be an orderly handover.
The new guy is interesting and presumably no fool. As a few posters have pointed out, he will be fully aware of the situation with the DHSC dispute and more than up to speed with the opportunities available to Novacyt. The search for a new CEO of a company of this size is not a quick process, so he will have had the opportunity to do his own research and ask the right questions.
Does any of this change the fundamentals? No in my opinion. This is still a company with a lot going for it. A massive range of diagnostic products and services, cash in the bank despite not having been paid a considerable amount of money, probable resolution of the DHSC dispute within the next few weeks, Covid going nowhere worldwide and a superb opportunity to become a world-class diagnostic company in a growing marketplace. The list of diagnosis opportunities is almost endless.
Best wishes and kind regards to both Graham and the new guy and I am not going anywhere. Good luck all.