Richard Hastings Management Quotations

I think it's kind of funny they're changing roles, but I'm also getting the impression that, over the past two years, there seems to be a trend to moving top management around so they get more well-rounded experience. I think that's a good move and maybe a part of the company's succession plan.

Management has been defending the brand. If we look at the last six years, it's become clear that they have made no progress.

Management is concerned about return on invested capital and return on shareholder equity and that's the focus. Everything else takes a backseat to that.

The additional cash on the balance sheet from the asset sales will put Kmart in a position to further reduce debt and possibly buyback more shares in a move that could boost share prices further, ... At the same time, the big cash position will enable management to look at an attractive range of choices, including the possibility at some point in the future of a major acquisition.

The management shakeup is no surprise, and we welcome the change, ... We believe Lewis is the better person to lead a customer-centric business.