One can only marvel at Ardent Leisure, the first company we've ever seen launch itself off a cliff and then, from the bottom of the ravine, still surprise on the downside.

The market certainly wasn't surprised on Wednesday when chairman George Venardos announced that Deborah Thomas was stepping down as chief executive, the only shock being that she had demoted herself to chief customer officer, isn't leaving, and is being replaced as CEO by Nine Entertainment Co's jilted bridesmaid Simon Kelly.