RE:RE:RE:Insider transactions July6I've been in the construction industry for many years and two companies that are both USA top 100 's that I am very familiar with have different boards. One is populated with five people with deep construction backgrounds. The other is populated with an insurance exec, a banking exec., one that I do not know and one that has financial and management background, besides the company CEO who has construction background.
I am sure there are arguments for and against each.
My main concern is that the board and Mr. Hinse are vigorously looking for his replacement. I think he is a very smart mining guy and his replacement needs to work by his side as long as possible.....and if they are planning to open Barvue they will need more than just one person.
The company is growing and from my experience, that is when mistakes can be made. Hire the wrong person and things go awry, don't hire people in time and decisions don't get made in time and things go awry. Move up someone from within that has performed well in their current position and you have to be careful that Abcourt is not a victim of the Peter Principle (A well performing person is promoted from a level of profinciency to a level of incompetency.) and operations again go awry. Growth can be difficult.
Ken