Has the landscape changed already - FT24 Sep 2020 07:20
Yesterdays news I felt was unexpected in timing but it did allow GC to save face and highlight publicly the united message the BOD told to shareholders that the BOD and GC were as one, was in fact false and GC was the BOD's elite weapon to win the vote.
Now we see what the FT has made of the situation and I would totally agree, I've always felt that JB would not be losing this battle to win back his place within the company he loves, built and has watched some of the current BOD members destroy.
John Cronin, analyst at Goodbody, said his sudden exit “increases the likelihood that Benamor will be successful, because [Mr Crawford’s] threat to step down was one of the key reasons why Benamor was unlikely to receive support”.
https://www.ft.com/content/4129ff15-0a23-4774-8f93-6350213bf5da
We have already seen some early shots between JB and the FCA, we don't have full insight into all previous lending but I can totally see how the FOS have been allowed to implement their own rules without being challenged by large organisations, I believe JB has a very valid case for the FCA to review and comment. The FCA can't have it both ways by asking Amigo to continue lending and then allowing practices of the FOS which could impact their very existence..
https://www.ft.com/content/69461a98-2c39-454e-ac34-09ffee93c720
Very excited week ahead and hopefully for shareholders a good result with the backing of the Richmond Group.