STEPHEN CRANSTON: The personal touch that CEOs lack
There is widespread scepticism about CEOs of large companies who surround themselves with spin doctors
I had my first extended Twitter discussion last week. I mentioned that I’m puzzled that so many fund managers internationally take pride in the fact that they do not meet company management either before they own shares in that company, or while they do. I suggested this was akin to a political correspondent taking pride in never talking to politicians. Imagine my senior political colleagues, Genevieve Quintal and Claudi Mailovich, refusing to talk to President Cyril Ramaphosa or the premier of Gauteng. And I don’t suppose a private equity fund ever buys a business without talking to management.
I got a reply from Deon Gouws, an old friend and shrewd investment professional, saying fund managers can find better ways to use their time...