Why don’t people just see this for what it is?
New CEO joins.
Tanks the profit first year and has large writedowns to clear the decks.
Announces large job cuts but doesn’t disparage the previous management funnily enough.
Moves on some upper level managers to bring his own team in to share the spoils.
Miraculously returns the business to profit and is handsomely rewarded for doing so.
Wash, Rinse, Repeat.
The level of corruption, incompetence and greed amongst Australian corporates is breathtaking and the rest of Australia is too busy working to live to be able to give a ****.