Sherritt International Corp T.S

CFO

[Contrarian333]

https://www.sherritt.com/English/Investor-Relations/News-Releases/News-Release-Details/2020/Sherritt-Appoints-Interim-CFO/default.aspx

[Contrarian333]

https://www.torexgold.com/news/torex-gold-announces-appointment-of-new-chief-financial-officer

[SilenceDogood1]

Contrarian - what do you make of this?

[Contrarian333]

Well I have a couple of thoughts.  1. Andrew is a highly competent executive whose reputation would have only grown with his efforts with respect to the rather unprecedented and successful balance sheet initiative and various innovative schemes to wrest cash from the Cubans on the overdue receivables, etc.  Therefore he has likely become a highly sought after executive and subject to

[oceaneleven]

Are you talking to yourself again LOL!!!!!!! Let me answer....Usually big red flag when you have CEO or CFO exit/resign  with little to no notice.. What we have here is both exiting and with notice.. All the bad with financials news etc has been known and DEALT with so no bankruptcy pending... If you pull up charts you will see a steady time of sp when nickle pricing was rising and everyone

[IamMagic]

With an NDCC at around 4$ per pound, nickel over 7 and low fuel costs, I don't see this is a Red Flag but I agree with you that it is strange. Pathe also said that he will stay until someone else is appointed. Sherritt was probably happy to see him leaving anyway so they just accelerated the process.

[patientoldguy]

usually execs leave after an acquistion has been announced not before... So far sherritt price move seem to track the uptick in nickel and copper not the kind of spike associated with a pending deal. could be they are just worn out from the long haul of surviving bankrupcty.  theyprobably will retain stock options so they can participate in any upside and will move on to other positions.

[YourFriendo]

Being the CFO of Sherritt is a nothing job. The company now has only one asset, which is a self sustaining JV. So all that the CFO would be doing is consolidating financial statements and trying to collect receivables from Cuba....hardly a dream career. 

[rkhosla]

I agree fully with point #1 - clearly he (and both Pathe quite frankly) are essentially leaving on high points (relatively speaking).  It's quite unusual they managed to convince bond holder to take a 50% hair cut without dilution and that they manegednto keep sherritt afloat during the Trump / Covid / Ambatovy exit era....

[patientoldguy]

securing financing via the bond holders was no small feat.  having worked for a long time ofr a publically traded company that accumulated $1B in retained losses and multiple issues of convertible shares, the fact they did this without significant dilution is a notable acheivement, with  a new commodity bull market the risng tide should lift all ships.  less restricions on Cuba will

[bobismydad]

being an overpaid ceo, is easy money, better than investing in aco run by a charletonne with no respect fo lenders and holders https://youtu.be/g6-8J93kyZY?t=241