Harsh but Bullish
The LFWD Q2 earnings report has revealed (and for those of us following reassured) that the turnaround is in full effect.
Not only has a strategy been planned,
Not only has the strategy been established,
Not only are they executing,
But it’s working.
And the plan is to continue with the expectation it will only keep getting better.
But one thing that was mentioned in the report and caught some attention was the stepping down of the CFO and some board members.
There could be many explanations, but the way I’m interpreting it is the changing of the guards. The “old guard” that was responsible for the business short comings of LFWD is leaving, and the new guard is taking control.
The previous management (from the CEO and those who left earlier, to those stepping down now) deserve compliments for what they have achieved and developed, and should be thanked for their contributions (and for the opportunity they created for us to now invest at the bottom), but the business fit and expertise needed to take the company forward we’re missing, and now that the turnaround is in full effect it is impacting the company personnel as well.
Not fun to see good people leave, but I’m sure it will turn out for the better for each and every one, and wish them nothing but the best.
This means this company, and the new board coming in (notably Oramed) will go to any length to get this company back on track, which I believe it already is, and to drive it forward.