mark rayner is back !!!

  1. 490 Posts.
    It beggars belief that Mark Rayner has become a director of WMC after having presided over the destruction of all shareholder value in PAS by punting the company on an ill-conceived currency hedging arrangement. His nomination failed on a show of hands at the AGM but was passed on proxies. Who voted for him ? Mates in the funds management industry ? Surely there must be better candidates or at least younger blood. Shareholders cop it in the neck and Rayner sails on unimpeded. Is this cronyism of the worst kind ?

    I don't hold shares in WMC but did have a sizeable stake in PAS.
 
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