A bad week for Clicks CEO Vikesh Ramsunder
Clicks may have been one of the best investments on the JSE this past decade but the incomprehensible decision to sanction that ad means all sorts of consequences for Ramsunder and his team
A good week
Sisa Ngebulana, CEO of property group Rebosis, is top dog again at the company he founded, after buying up shares to take his stake to 30%. At R114m, it’s a lot less than he would have had to pay a few years ago when Rebosis was riding high — so while it may feel good to be shareholder No 1 again, it’s of a company that has shed a colossal 97% of its value in three years. Ngebulana says the move underscores his confidence in the company’s future. Will it prompt similar feelings from other investors?
A bad week
Clicks may have been one of the best investments on the JSE this past decade but the incomprehensible decision to sanction that ad means all sorts of consequences — some deserved, some not — for CEO Vikesh Ramsunder and his team. An apology deemed not good enough, violent and destructive protest action, the cost of lawyering up and a social media storm make for a very bad week indeed. SA companies shouldn’t be making such missteps in 2020. Let’s hope the lessons are well learnt.
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