Removing Sanger = Stupidity + Racism?

Compared to the US exchanges, ASX companies generally have a poor record when it comes to their dealings with Asian male directors.

There is no question that Jag Sanger brought great value to TMH, lifting it up from a stock-spruiking virtual rag to a serious media player with great potential. A lot of hard work went into the recent acquisitions of Gumtree etc. None of that would have happened without Sanger's vision and involvement. Getting the Norwegian vendors to finance TMH's acquisitions was a masterful stroke, a brilliant move that one rarely sees on the ASX. Sanger deserves the credit for that.

It would appear that some of the board members have been unable to deal with Sanger's success and have used their voting power to oust him. Why? I don't know. Perhaps because the hard work's mostly done and now they want the credit? Either way, this is a mistake and they will rue the day Sanger was removed.

Lets again compare the ASX to the US Exchanges, where some of the largest US companies are led by people who are of immigrant stock. Think Google, Microsoft and a bunch of others, no shortage of brown and yellow faces in these companies. Then contrast that to Australia where pretty much every brown or yellow faced male CEO/MD has been run out of town. This month it was Jag Sanger. Last year it was James Hardie, where a a tough talking Asian male CEO who made difficult decisions was booted out because folks could not deal with an assertive Asian male.

On my part, I refuse to take a position in TMH until Sanger is reinstated. Perhaps those who have removed him are better off resigning themselves because their own way of thinking is kinda medieval and contrary to the best interests of the company.

I would bet serious money that the market capitalization of TMH will fall markedly without Sanger. The smartest thing he could do is just pack up and leave - there'd be no shortage of US companies who'd hire him as a turnaround specialist.