EOH is on the verge of technical insolvency

mylesillidge

mylesillidge

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Value destruction at EOH

EOH experienced tremendous value destruction under CEO Stephen van Coller and is on the verge of technical insolvency.

When Van Coller took over as EOH CEO in September 2018, the company produced R16 billion in revenue, R977 million in operating profit, and R288 million in profit after tax.
 
Enzo Matrix

Enzo Matrix

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Sounds like the ceo of monochoice. Driving them into the ground with his business acumen.

But hey, if it pays then power to you. And fk the rest
 
Okty

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Jirre f@k, guy gets crap load more than his predecessors, screws up the company and still gets a bit pay increase trough all of it.

Talk about failing upwards.
 
supersunbird

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The two biggest losers under Van Coller were EOH shareholders and employees. Shareholders lost 89% of their investment, and many employees lost their jobs and livelihoods.
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In the other thread about this I posted the share price drop (on phone, so not gonna do it now) from Dec 2016 to when this CEO took over in Sept 2018 and it dropped like 79% in that period before he took over. If these critics also blame the previous executives, all good, if only blaming this one, I wonder if some of these critics are not perhaps the previous value destroying executives?
 
Johand

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A group called Save EOH said EOH was a good company when he arrived,
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HA! A good company when he arrived. He arrived to a pile of hot sh@#. I would like to know how many long-term contracts that started under his predecessors' reign but was not renewed due to corruption - those contracts will mostly have run till Van Collier was in charge for some time...

And you can't compare salaries. His predecessors had significant stakes in EOH.

Look - he might or might not have done a good job, I just seriously doubt that the numbers in this article proof anything either way. It is clearly evident that this is a biased article just by the tone. Corruption is a nasty thing to deal with. And he probably goes to bed every night wondering if he got all the cancer or whether it is lurking is some corner.
 
Pegasus

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supersunbird said:
In the other thread about this I posted the share price drop (on phone, so not gonna do it now) from Dec 2016 to when this CEO took over in Sept 2018 and it dropped like 79% in that period before he took over. If these critics also blame the previous executives, all good, if only blaming this one, I wonder if some of these critics are not perhaps the previous value destroying executives?
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His job was to unbundle as much as he could from it to save jobs, contracts and value. So he did that well.

EOH has a tainted reputation, so it had to be done.

If everything was still sitting under the EOH banner today is would be worth fokkol.
 
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Enzo Matrix

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Johand said:
HA! A good company when he arrived. He arrived to a pile of hot sh@#. I would like to know how many long-term contracts that started under his predecessors' reign but was not renewed due to corruption - those contracts will mostly have run till Van Collier was in charge for some time...

And you can't compare salaries. His predecessors had significant stakes in EOH.

Look - he might or might not have done a good job, I just seriously doubt that the numbers in this article proof anything either way. It is clearly evident that this is a biased article just by the tone. Corruption is a nasty thing to deal with. And he probably goes to bed every night wondering if he got all the cancer or whether it is lurking is some corner.
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You sound like a De Ruyter fan
 
Pegasus

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Johand said:
HA! A good company when he arrived. He arrived to a pile of hot sh@#. I would like to know how many long-term contracts that started under his predecessors' reign but was not renewed due to corruption - those contracts will mostly have run till Van Collier was in charge for some time...

And you can't compare salaries. His predecessors had significant stakes in EOH.

Look - he might or might not have done a good job, I just seriously doubt that the numbers in this article proof anything either way. It is clearly evident that this is a biased article just by the tone. Corruption is a nasty thing to deal with. And he probably goes to bed every night wondering if he got all the cancer or whether it is lurking is some corner.
Click to expand...

If the journalist wanted to try a proper comparison then he would add back the value of the unbundled companies to EOH's history or remove the history of the unbundled shares.
 
C

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Lol. EOH was an abandoned ship, half its board had fled to Australia and all the big funds were dumping the shares off their books and writing down the loss. This was always a wind down job, nothing left to save. With all the big companies moving to cloud services the days of useless IT middlemen selling windows server licenses is dead.
 
Enzo Matrix

Enzo Matrix

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cda said:
Lol. EOH was an abandoned ship, half its board had fled to Australia and all the big funds were dumping the shares off their books and writing down the loss. This was always a wind down job, nothing left to save. With all the big companies moving to cloud services the days of useless IT middlemen selling windows server licenses is dead.
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You have no idea what you are talking about if you think cloud services are not license based
 
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