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I suppose my big concern is that SMS has already thrown in the towel and he is doing the world tour to distance himself from the situation. The business has got away from his control and he realises this. We desperately need an organisational refresh to breathe new life into this company.
Well Ben please don’t rely on that ineffective and resource sucking Quango - the FCA. I contacted them on the matter of destructive short selling and perhaps naked short selling. Their response was rapid but was basically a benign missive full of motherhood statements regarding short selling. In other wards I can’t be asked to investigate.
Redwine - Fully agree with your views. Yes the Ad Market has severely suffered during 2023, however the derisory financial management of S4 has only compounded matters. Not convinced the replacement CFO has been particularly effective here.
Tig - fully agree with your comments. I find the short sellers can be quite abusive. Their aim is to frighten the life out of investors so that they panic and sell. Same on other share sites as well. A period of calm and decency has now descended which is welcome. I visit this site for intelligence not abuse.
S4 needs a new CEO to manage the business. SMS has run out of energy and ideas. He is effectively a rabbit in the headlights. It was telling as one other contributor to this board remarked that the phone in with big investors did not realise any questions. Perhaps the investors believed it would be a case of clubbing baby seals.
Red wine, fully agree with your assessment of this situation. Very unlikely that SMS and his management team would sell out and suffer significant financial loss. It is more likely that SMS would moved out of direct line management if matters significantly worsened. Perhaps he would operate better as the technical expert.
SMS credibility has been flushed down the toilet. He may be a technical expert when it comes to advertising but he is not CEO material. The institutional investors know this and would presume it rather pointless to ask him questions at this late stage.
My worry is that customers also loose faith. When they invite advertising agencies to tender for work they will also assess the financial viability of the company.