According to The Business Desk, CEO David Potts has increased his £800k stake by investing £500k in Morrisons shares following a 10% drop in share price. This has to be a major show of confidence and evidence of commitment in his new role, especially if other members of the board and staff are encouraged to do likewise.
Nothing beats a stake in the business to focus the mind…
Scope for NAMs to follow suit?
Now there’s commitment!
Seriously, Potts' latest move is bound to put additional pressure on the Tesco Board, with recent reports of City disquiet in The Guardian for their holding unusually low numbers of shares in company, and CEO Dave Lewis yet to invest any of his own money in the company…
This is being regarded as an indication that the Tesco executives have not been willing to back their turnaround plan by putting their own money into the retailer.
…thereby begging the question re how much suppliers can reasonably be expected to invest via trade funding…?
Nothing beats a stake in the business to focus the mind…
Scope for NAMs to follow suit?
Now there’s commitment!
Seriously, Potts' latest move is bound to put additional pressure on the Tesco Board, with recent reports of City disquiet in The Guardian for their holding unusually low numbers of shares in company, and CEO Dave Lewis yet to invest any of his own money in the company…
This is being regarded as an indication that the Tesco executives have not been willing to back their turnaround plan by putting their own money into the retailer.
…thereby begging the question re how much suppliers can reasonably be expected to invest via trade funding…?
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