Stephen van Coller leaving EOH

[Jan]

EOH CEO stepping down

EOH Holdings CEO Stephen van Coller will step down in March 2024, the company announced alongside its annual results for the year ended 31 July 2023.

Van Coller was appointed CEO on 3 September 2018, and he is credited with cleaning up much of the corruption at the group during his tenure.

 

[Toxxyc]

I wonder why he's leaving. I remember him being quite passionate about EOH.

 

[Pegging]

I wonder why he's leaving. I remember him being quite passionate about EOH.

He was hired for the turnaround which is complete. Some people don't like the day to day BAU stuff.

 

[PaulGherkin]

I wonder why he's leaving. I remember him being quite passionate about EOH.

Persistent rumours about corruption at that company, etc..

 

[Korkstah]

He absolutely destroyed the shareholder value by selling off performing BU's , paid out nice dividends and bonuses to execs whilst absolutely decimating their profitability................

 

[lotus123]

He absolutely destroyed the shareholder value by selling off performing BU's , paid out nice dividends and bonuses to execs whilst absolutely decimating their profitability................

Corporate liposuction. The operation was a success, even though the patient is not expected to survive.

 

[InvisibleJim]

He was hired for the turnaround which is complete. Some people don't like the day to day BAU stuff.

AFAIK there's still a significant amount of debt remaining so I don't think they are out of the woods yet.

He absolutely destroyed the shareholder value by selling off performing BU's , paid out nice dividends and bonuses to execs whilst absolutely decimating their profitability................

With the debt they had, selling off businesses wasn't really optional, especially the decent ones that they might get a good price for. EOH was a house of cards before he took over so in that sense, he's not to blame and he's been keeping the business on life support. I can't comment on the bonuses to execs.

The alternate ending is Business Rescue/Liquidation and that could still happen. I hope not for the sake of EOH employees and Shareholders.

 

[Toxxyc]

I have to say that during the time I worked for an EOH company, Stephen made some hard choices. I remember the company I worked for was very profitable, and he was shutting down several BUs that did not perform, or were lacking performance where needed, because they were just leeching on EOH. As said, EOH was a house of cards, and the share prices that tanked and all that was hardly Stephen's fault. I, for one, am surprised that EOH is still going on.

 

[supersunbird]

I have to say that during the time I worked for an EOH company, Stephen made some hard choices. I remember the company I worked for was very profitable, and he was shutting down several BUs that did not perform, or were lacking performance where needed, because they were just leeching on EOH. As said, EOH was a house of cards, and the share prices that tanked and all that was hardly Stephen's fault. I, for one, am surprised that EOH is still going on.

Yeah, those blaming him for the share price, are hopefully blaming the ones responsible for the 72% share price drop before him just as hard.