WOW - today the CEO, then the Board?
The Woolworths Limited (WOW) Board have thrown CEO Grant O'Brien overboard, but this leaves many questions unanswered. A CEO does not pursue a strategy without the sanction of the Board. Mr O’Brien was only one of group of eight who approved a strategy that has seen WOW shareholder value tumble. WOW shareholders should be holding the entire Board, not only the CEO, accountable.
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Gabriel is the founder and Managing Director of Sandon Capital Pty Ltd, a boutique investment management and advisory firm. He is the portfolio manager of the Sandon Capital Activist Fund and Sandon Capital Investments Limited. Sandon Capital also provides advisory services to shareholders seeking to implement activist strategies. Gabriel is chairman of Sandon Capital Investments Limited (ASX:SNC), non-executive director of Mercantile Investment Company Limited (ASX:MVT) and Chesser Resources Ltd (ASX:CHZ) and is a non-executive director of Future Generation Investment Fund Limited (ASX:FGX). He was previously a non-executive director of RHG Limited and chairman of Armidale Investment Company Limited.
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