GWR - Genesee & Wyoming: The Board's Mishandling The Genesee Australia Sale
GWR: The Board's Mishandling of the Genesee Australia Sale
Jack Hellman, Genesee's (GRW) CEO, initiated the strategic review sales process soon after being appointed Chairman of Genesee, rather than focusing on improving operations. He stands to reap a $21.2M windfall if the current deal closes - approximately 23x his annual salary.
GWR shareholders deserve a multiple as generous as Mr. Hellman's. It's the job of the other nine board members to ensure that happens. However, the handling of the Australian assets demonstrates the board has breached fiduciary duty owed to shareholders by failing to run