We think there is probably a lot more going on here than gets reported to the media. What, we can't say, but probably a personality issue or other conflict that may not even be connected to how the former CEO was actually running the company. But here's what we know: under Mr. Chamandy's guidance, the stock has gone up 43-fold. Yes, the timeframe is convenient, coming out of the early 2000s recession. But still. Prior to events of the last few months, if anyone had asked us if he was doing a good job as CEO we would have replied 'absolutely'. The strong shareholder support to reinstate him helps confirm this thesis. Still, it is clearly a mess now. The board could be reconstituted still. The underlying business may face some distractions from all this but likely not in a material way. We would, at current levels, prefer to HOLD.
5i Research Answer: