Forum Topics SGI SGI Change of Secretary & CFO

Pinned straw:

Added 7 months ago

Announcement: John Boland has officially stepped down as the Secretary & CFO after 5 years with SGI. Replacing him is Anthony Benino as Secretary, and Matthew Green as CFO. Both seem to have extensive experience in these roles, so I hope both fit in and do well.

topowl
Added 7 months ago

Keen to see what kind of strategic direction perhaps they bring....

Could signal a fresh approach to capital management or cost control.

Sometimes a CFO change precedes bigger moves…

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lowway
Added 7 months ago

Whilst I agree with you @topowl and hope for a clear strategic direction and also agree with @pubenvelope about the experience/expertise of the replacements, the market is made up of a conglomerate of individuals that all have a very similar trait. i.e. we all love the status quo and change, at least initially, is something we don't handle very well. Over time, if Anthony & Matthew live up to expectations, the market will act favorably, but I'll be surprised if there isn't some pushback in the first instance.

Of course, as a long-term holder IRL and even in SM portfolio, it should all even out or even have a benefit in share price longer term. Fingers crossed!!

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Tom73
Added 7 months ago

I like SGI will now have a dedicated Company Secretary who is also focused on Company ASX announcements. Slapping the Secretary roll onto the CFO is a small company MO, time to up their game and not have any further issues on ASX disclosures. Anthony Benino ((37) Anthony Benino | LinkedIn) has an Oil and Gas background, but industry differences are not really an issue for the role he is taking, his limited Company Secretary roles and ASX listed roles is more an issue, but 16 years doing corporate advisory I am sure has most of this covered, but we will see.

Matt Green ((37) Matt Green | LinkedIn) seems solid for the CFO, good companies, but again the industry fit is a little off, working for service providers who mainly use some of SGI’s products rather than wholesale distribution experience which is SGI's core business. A bit like the previous CFO John Boland ((37) John Boland | LinkedIn).

In general, I am comfortable because I have a lot of faith in Mike as CEO as a numbers and business metric driven leader. Good CFO support is always needed, but Mike knows the numbers that are important and how to make them work, so doesn't need his hand held on the finances.

Hence: business as usual as far as I am concerned.

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pubenvelope
Added 7 months ago

@Tom73 great points. I would go as far as to say business as usual, but better. CEO Mike has realised that as this gets bigger, he needs the right people in the right positions. You just can’t have one person completing two roles to the full extent of their capabilities.

I am interested why John decided to leave the company. It sounds like he has completely left but it’s not 100% clear.

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