RE:RE:New President and CEOJohn Rooney stepping down as CEO was decided and announced as soon as Waterous took over control. Nothing to do with new owner being not impressed with him.
Also, with 360 million in debt, there is no way that the dividend will be reinstated soon even with the new CEO. It was decision by Waterous to cut the dividend. Waterous hired the new guy.
What we need to see is cut in the production cost/increased production.
I am quite confused to see Waterous not offering to take the company private at the current share price, if he truly believes in the company. Should offer like $3.50 per share to buy the whole company.
His action (or lack of action) might be proving that he is old and made a mistake in overpaying for the shares.
The investment fund lost like 100 million for the year with their limited fund resources. One of the worst performing fund of the year.