Getting rid of Hein Schumacher may not follow the usual FTSE 100 script, but boards should be free to make clinical judgments if there’s a better option.
Financial results disappoint; the share price falls; improvement is promised but doesn’t materialise; the shares fall further; a beleaguered board, harassed by the shareholders, finally pulls the plug.
Nor does there appear to have been a quarrel over strategy, even if the choice of Amsterdam for the primary listing of the soon-to-be-demerged Magnum and Ben & Jerry’s ice cream division will not have been universally popular.
Most outings of chief executives from major FTSE 100 companies follow the same script.
Third, the share price hasn’t been crashing – it’s up 10% since Schumacher’s appointment.
.jpeg?trim=312,0,313,0&quality=75&auto=webp&width=1000)
