Just when small cap fund managers thought satellite owner Speedcast International couldn't disappoint any more, it has outed itself as a company hard up against its debt covenants and still rewarding management.
Chairman John Mackay is gone, so too chief financial officer Clive Cuthell. Chief executive Pierre-Jean Beylier is safe - for now - but will be in fundies' sights in coming days.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
