@RogueTrader

I think the issue is no one was informed of the CFO retiring until now. It seems this was brewing in the background unannounced and maybe someone had inside knowledge was "trading" it on the news.

I thought the selloff was due to the recent reported result but then the constant selldown afterwards just did not make sense until now.

The reason why I said "trading" is because I could not see any significant reductions in holdings.

ASIC should have been on to this and ask why the shares have been constant downtrend until now where it has bounced quite significantly.

Would be very hard to prove for ASIC one way or another I'm presuming. I recall I was holding IDX in August 2021 after a long rally from the March 2020 lows when the CFO's departure was announced on August 4. I promptly sold and watched the sp rise back up for another three weeks before it plunged at the end of the month (and lost 50% over the next year.) I'd be curious to know of any study done in Oz of CEO/CFO departures and the direction of the relevant sp over the next year or so.

Yeah totally agree

ASIC only comes in when a stock price moves 1% or more on huuuge volume and when there is no news. Otherwise they never bother when the little guy loses money.

Having said that, it was only a further 10% down from 9.60 to 8.70 after results were published. I reckon that period is when the CFO retirement news came out and a executive search happened but PWH did not inform the market.

Will try and see if I can use the "Seekret" a bit more for my investing...

I was under the impression the sell off was just following the financial results that showed flat profit growth before further capex and the pretty high multiple?

Did i miss something previous to this announcement?

No one missed anything.

But PWR Holdings missed telling everyone last month that the CFO was retiring and only mentioned it now. So a yellow card here.

And I suppose there must have been a few smarties looking at the job sites or linkedin that some CFO hiring was happening but was not announced on the market??

CFOs change here and there, I don't think this has had any effect on the share price. Martin may not have informed the board of his decision to pursue other opportunities until recently.

For what its worth, NWL also changed CFO and has hired former CAT CFO Hayden Stockdale. Although this was announced previously.