Tom Krulis: Formerly head vacuum salesman at Godfrey's, the new VC owners quickly lost faith in this executive who now has a ceremonial role. It's clear that experience with this firm, along with his previous job as a solicitor, will translate well with the "sucky" environment at Allied Brands. With almost 50% of the Godfrey's chain disgruntled franchisees, Krulis experience at franchisee abuse should go down well with the current group of franchise-killing executives.
Barbara O'Brien: Got to the top spot at Breville thanks to her close association with the founder (she's the daughter). We all know about Breville - an internet search for "Breville & Junk" tells you all you need to know about this Chinese-made stuff, where Aussie jobs were exported to the people's republic.
Of note is that both of these companies were sold out by their Australian owners, and massive numbers of Aussie jobs were exported to China in the process. Now they've joined Allied Brands, who is busy killing more Australian jobs by their philosophy of "screw the franchisees, all the money is for us".
Funnily enough, their jobs at Allied Brands clearly overlap responsibilities of the current crop of overpaid & failing executives. So Allied Brand's board philosophy is now revealed -- when the current executives can't do their jobs, let's hire more overpaid executives without sacking the failures!
No wonder Allied Brands is bleeding cash and the last half yearly report showed salaries and executive perks skyrocketing!
However the key to this absurd action comes in the next statement from the ABQ announcement --- "Both Barbara and Tom have personally invested in the group by participating in the recently announced sophisticated investor placement". So unlike the rest of the "unsophisticated" mom & pop investors who have bought into Allied Brands and seen their share price collapse, these "investors" have been guaranteed their so-called investment by the handing of cash over by the company to them as "executives"! What a scam!
This along with the sweetheart loan provided by Allied Brands to that other non-performing executive Shane Radbone show the rest of the market how much cash is being paid out just to keep this sinking ship afloat.
Sources internally indicate that another shakeup is likely to begin soon, with the accounting staff tired of their instructions to abuse franchisees and keep the money coming in. Aware that many of these franchisees (both Baskin Robbins and Cookieman) have seen their sales collapse their businesses into trading-while-insolvent territory, the daily ritual of arm twisting by this junior staff has morale at an alltime low.
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