Its very unlikely that there is a new activist investor. Many issues mitigate against such a move. Such as the IAT/MIL agreement and the poison pill. I suspect the company is on the verge of sustainable earnings and growth. We are not a 1.7 billion dollar company.
Mischa - The poison pill does nothing to even slow down an activist, unless his or her plans were to buy up all of the shares of the company. The IAT/MIL agreement has no effect either, it has to do with them dropping lawsuits against each other. It doesn't prevent IAT from joining with an activist to get rid of this CEO.
How do you figure this is a 1.7 billion dollar company? How do you possibly justify that number? It is a 500 million dollar company.
2 of the directors were just recently elected and another one needs to be chosen. Some possible scenarios:
- business as usual......another rubber stamp for MJS
- independent director
- CEO is hired and he/she also becomes a director
The best role for MJS is that of a capital allocator who oversees acquisitions, investments, etc. An individual with extensive experience in supply chain/commodity operations needs to be hired as the CEO who is in charge of the day to day business operations, etc.
Hopefully the next CC will result in shareholders getting a lot of info.