Vic Neufeld It is essential the Intetnal Investigation Report be released once complete and vetted.
I do believe Mr. Neufeld deserves a fair and balanced review of his Scythian connections and whether he profited from the LATAM sale. This is material. But I emphasize he is yet to be found of any wrong doing. My primary issue with this CEO is how the Altria deal fell apart. It would be nice to get some clarity in that but I expect we won’t.
Personal toll? What about the toll this has taken on Aphria shareholders, not one mention of thanks to those who hold on during the conference call. I was never impressed with how Mr. Neufeld spoke in the past to previous successes as though they were his own. “I” and “me” peppered his responses. This goes both ways. Funny how he is not owning this situation. Did not once say “I” made a mistake (WRT Altria). Regardless of innocence or guilt it is time for him to move on. Out of respect to others on this board, I invested in Aphria late in the game (average 16) So was not here when Vic Neufeld led the charge from low single digits. So I see him as eroding my investment not building it. I do appreciate why other longer longs are fans. What I find most interesting is ProfC’s views of this CEO. ProfC has been with Aphria since the IPO. We had some pretty public disagreements about Mr. Neufeld last October.
Sadly, my biggest losses in the stock market have always been a result of CEOs acting without integrity; John Roth of Nortel being at the top of the list. No matter how much DD you do on a company, if the CEO is not acting with integrity you are in trouble. It really grinds me when there is a whiff of duplicitous behaviour or downright illegal activity. I am not stating this is the case with Mr. Neufeld. But it is possible. Let’s wait for the internal report, but I do admit my prejudice. I have also been following Nissan, note that despite Ghosn’s alleged wrongdoings he remains CEO of Renault:
Ghosn, once the most celebrated executives in the auto industry and the anchor of Nissan's alliance with Renault, remains in custody in a Tokyo detention center since his initial arrest in late November.
Ghosn has been indicted on two counts of under-reporting his income, and aggravated breach of trust for temporarily shifting personal investment losses worth 1.85 billion yen ($17 million) to Nissan.
The scandal has sent shockwaves through the automotive industry and has escalated tensions between Nissan and Renault, where Ghosn remains CEO and chairman.