I could not understand how anyone with a brain and a computer couldn't or didn't see through Mr. Lonergan's promises for improved operations. These horrible results reflect 1-that the business remains a mess and that 2-his previous experiences as a no growth, weak operations cost cutter at Diversey don't make him an employee, let alone a CEO candidate. What a mess. Not surprising though, given the proven (actually unproven) capability and results of the Board. I know they have all had impressive titles, but have any of them (Wendy's, Lojack!) actually been successful managers in their own rights? I don't think so. Keep away.
Sentiment: Strong Sell
The quarter's numbers are no surprise. The combination of past and current leadership has not been capable of managing a candy bar out of a vending machine, let alone a multibillion dollar company. Mr. Aguirre was horrible as the Chairman and CEO. Narcissistic, self promoter who didn't know a strategy from a strawberry, and it showed. The stock went from 32 to 5 under his "leadership", and the Board just paid him all the way down with Ms. Anderson as the lead director. He even moved the Company HQ as yat another smoke screen to hide his miserable results Ms. Anderson, now Board chair, stood by as CEO while Wendy's twisted in the wind and was swallowed without a fight by the much smaller Arby's. The current CEO Mr. Lonergan is also a wonderful self-promoter who didn't grow the Johnson Diversey business an inch over 4 years before it was mercifully acquired by the bubble wrap guys. Between them one would have to believe that their idea of growth is slow and steady decline. I don't own any any more and don't plan to.
Sentiment: Strong Sell
What are these guys thinking? There is no synergy here with Diversey, and Diversey itself is a failed Company. They compete is a very tough market against a very strong competitor, have weak management, have little to no innovation and have had declining revenues for a long time. What are we doing? This will never work out.
Nice profit on the buy, but you made your money because the entire market tanked, not because the Company is growing or well run. They are a mess. The CEO is weak, really weak, and the only way this stock will do well over time is if and when the Board realizes their mistake. What a mess.