Q: If you have not already been asked, what do you think the chances are of the former CEO being reinstated? With large shareholders getting involved on both sides of the argument would you continue to hold or exit the position? Please provide the rationale, thank you.
5i Research Answer:
We think odds are good, likely in the 65% range. Replacing the founder's board seat with a hedge fund that has only owned shares for a year also seems bizarre to us. Still, the board doesn't 'have' to do anything, but we would be comfortable with Mr. C back in charge. We would be fine holding.