On Thursday I wrote a letter to the Board, which was forwarded to the chairman. The letter included a proposal to undertake a comprehensive review of executive remuneration as it is completely appalling and misaligned with performance, starting with Ed and Peter. Their “contribution” since being brought on has been wealth and performance destruction, do shareholders really need a CEO and CFO collectively on 2 million a year. Probably not, would an average joe off the streets do any worst, probably not. So the proposal is to cut Ed and Peter’s remuneration and undertake a strategic comprehensive cost review because revenue ain’t growing and to survive it time the board stop procrastinating and actually start “working hard” as they say and do something about this ailing business.
ISD Price at posting:
8.0¢ Sentiment: Sell Disclosure: Held
