RE: Moulding haters…26 Feb 2023 10:08
But again, what has he done to create value for his shareholders?
The whole point of investing in public companies is to make money. So far, investors in THG has been destroyed. It has only lost value since floating.
There is an argument to be made that the timing of the floatation was unfortunate to coincide with COVID etc. But since then all the company has done is miss targets. You cannot blame the media for that. It is just a fact
Personally I think he is a good business man. He has built up a big company. But it is a different challenge running a public company compared to a private one. It's a whole different ballgame. He is terrible at communicating to the market. And the governance is cloudy it best.
He should, with hindsight, have kept THG private for longer. But no doubt the pull of being floated especially in the era of easy money was too much for him and his early investors to ignore. He has two options now. To start acting like he runs a public company and start focusing on creating value for shareholders in whatever form that takes. Or he moves aside and let's someone else do it that can.
I personally think he created the golden share so he could still act like it was his company and didn't have to answer to the market. But soon he will. At that point I think you will start to see movement in the share price as it will focus his mind more on what's best for shareholders and not what's best for him and his staff .