The departure of CEO Richard Jacob — with no firm succession plan in place after his 12 years at the helm — has again put shareholder faith to the test.
Aluminium products maker Hulamin — one of Tesla’s suppliers — seems to be a perennial contender for the company that could have been. Hopes that at last Hulamin’s time has come have sucked in shareholders for years, only to result in disappointment.
At 241c, the share price is down almost 58% over five years, having spiked earlier this year to more than R5 on a takeover approach that was later withdrawn. Now its CEO of 12 years is leaving — without a replacement. The FM spoke to acting CEO Geoff Watson, a former nonexecutive director at the company and former executive at Alcoa and Rusal.This article is free to read if you register or sign in.
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