Bapcor Limited

ASX:BAP

Bapcor Limited

ASX:BAP
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$2.25 (-1.7%)
Last close price
#490
Rank
2
Held by
27
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Reports (8) My Report Forum Investors
Forum Topics BAP BAP CFO Resigns

Pinned straw:
Parko5
Added 10 months ago

FFS.....another CFO lost.


Look at the changest in managment and board since 2021:

2021:

  • CEO Retirement: CEO and Managing Director, Darryl Abotomey resigned

2022:

  • CEO Appointment: Noel Meehan was appointed as the new CEO and Managing Director.
  • CFO Appointment: Stefan Camphausen was appointed as the Chief Financial Officer.
  • Board Changes: Kate Spargo appointed.

2023:

  • Board Changes: Resignation of a director and the appointment of new Non-Executive Directors.

2024:

  • CEO Departure: 2 Feb 2024, CEO and Managing Director Noel Meehan would step down from his role effective 5 Feb 5, 2024.
  • Interim CEO Appointment: Non-Executive Director Mark Bernhard was appointed as Interim CEO and Managing Director following Noel Meehan's departure.
  • Chair Succession: The then-Chair, Margaret Haseltine, indicated she would not seek re-election at the 2024 Annual General Meeting.
  • CEO announced: Paul Dumbrell was appointed as the new CEO and Managing Director, scheduled to commence on May 1, 2024.
  • CEO ran away!: 30 April 2024: Bapcor reported that Paul Dumbrell decided not to join the company due to personal reasons, just one day before his planned start date. Consequently, Interim CEO and Managing Director Mark Bernhard continued in his role while the Board initiated a new executive search.
  • Executive Chair and CEO Appointment: Angus McKay was appointed as Executive Chair and Chief Executive Officer, commencing on August 22, 2024.
  • Lead Independent Director: Non-Executive Director Mark Powell was elected to the new position of Lead Independent Director.
  • CFO Appointment: George Saoud joined as Chief Financial Officer on July 1, 2024.

2025:

  • CFO resigns: 18 Feb 2025, George Saoud resigns as Chief Financial Officer.


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Can they hire some good people that will stick around and turn this around. This is a good company. Bain ran the ruler over it and put in a low ball bid.

Could represent good buying if it drops further.

Solvetheriddle
Added 10 months ago

Most of the time investing is very hard, then there are other times, no interest since DA went, with no explanation, still hasn't been, the inmates have taken over!

14
mikebrisy
Added 10 months ago

@Parko5 $BAP really has been a revolving door since Daryl left. Stable leadership is surely a prerequisite for success.

But this is not a complicated business - surely someone can steady the ship? I wonder if Angus is up to the task?

Based on forecast for FY25, $BAP is on a P/E of around 18. Actually not cheap for a distributor. And how much optimism is there given the troubled recent past?

I'm keeping well clear.


Disc: Not Held (Previous holder)

18
Slideup
Added 10 months ago

That many people leaving is never a sign of nothing to worry about.

@Parko5 Can they hire some good people that will stick around and turn this around. This is a good company. Bain ran the ruler over it and put in a low ball bid.

Alternatively maybe the bid from Bain wasn't so lowball!

14