Investors are positive about Lendlease’s restructure,but there will be short-term pain while the process is under way to achieve long-term gain,analysts warn.
The hulking-out of Lendlease shareholders not only demonstrates just how aggrieved they were,but it is also a reminder that investors are the owners and in theory the board works for them.
Investors downgraded the stock at a time when the global property giant is coming under pressure from other major shareholders to restructure the business.
Unless Tony Lombardo,CEO of ASX heavyweight Lendlease,can appease objectors,he,the board,and the business face major upheaval,and time is running out.
Property giant Lendlease is cutting about 10 per cent of its global workforce,with Australian jobs among those to go.