Should Richard Resign?, page-94

We got hard evidence this week. TIG saying that don't have a JV with BIG. TIG could have said that any time since the company has been suspended but they didn't. They only decided to distance themselves once the news about Richard's past came out. To perfectly honest I really don't care about what he did in the past. What I care about is what he does now and looking at the situation the company is in I don't believe he has done a good job. Making money is part of the business but managing the company effectively including abiding by the ASX rules is just as important. What good is it to make a lot of money just to pay it out in fines and risk shareholder capital?

Look at what happened with Imagine Un. It's fairly obvious that RE is reckless with shareholder capital. @Thanky made a really good point in saying that it's probably not the best time for him to step down given the vast changes to the board. I can agree with that. Some positives would be that he has used his connections and business knowledge to get the company listed on the ASX with some financial backing. That's not an easy task. Credit where credit is due by all means but in the long term I do not believe he is the correct person to be the CEO. I'm not just saying this because of the AFR articles either, I'm looking at the big picture and the situation that the company is in and to be honest the entire board are at fault and senior management. These issues are not down to one person.

If I'm alone in my thoughts then that's fine I can deal with that. I'm feeling more confident with the new chairman coming in and I expect great things for BIG.