RE: pure fiction22 May 2021 23:51
Hi Spy - sorry but Rio have only just appointed a new CEO (Jakob Stausholm) in Jan 2021 following the embarrassing Martu debacle where the previous CEO was ousted. There was speculation that SB would get his chance at the bigger job at Rio but JS won out and he has already set up a new Exec Team creating a COO position and a new Executive Australia. To my mind that rules out any more imminent changes at Rio and therefore any move for SB. It is true that the CFO at Newcrest (Gerard Bond) is retiring in 2022 - his salary is $1.8m second only in the Company to SB at $5.7m so speculation that GH may have been lined up to replace GB could be possible giving him ample time to divest his GGP holdings down to a more acceptable level from a Newcrest viewpoint, BUT this is ALL pure speculation as no one aside from GH and other Execs at Newcrest/GGP will truly know and they will be NDA’d up to the hilt. Either way a fascinating scenario and time will tell. It offers an explanation for GH selling GGP shares except for him buying another 500,000 only back in March, so who knows what is going on. I just hope GGP’s SP works closer towards Broker valuations of 33p and stops frustration for all fellow investors - VGLA!!!