Originally Posted by
What The
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 ****.
That would be plausible and probably correct in most other businesses, but this one has been incompetently managed and not made a profit for YEARS... it's not like he came in and rang alarm bells and allowed it to tank as you say, it was at the bottom of the Marianas Trench gasping for the last breath of oxygen from it's International Airline Consortium SCUBA tank before PS arrived.