At the weekend, the Sunday Times reported that Mecom CEO David Montgomery faced an investor rebellion.
Kristine Lowe, who has followed the activities of Mecom (which owns 300 newspapers) since its early days, shares her thoughts on her blog, linking into content elsewhere.
“My hunch is that it’s [the rebellion] nothing to cheer for,” she says.
“[I]f we look at the objections against his leadership brought forth after last year’s revolt, and Mecom’s continuing poor stock market performance this year, it seems to me that the man who gained a reputation as such a brutal cost-cutter during his Mirror-days is simply not a brutal enough cost-cutter for the investors in question.
She also notes that örsen, the Danish financial daily, is reporting that Mecom shareholders are disappointed that share prices have not improved more.