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Ann: Small Caps Interview - Mr Paul Burton, page-30

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28/03/22

12:09

Post #: 60464912
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Originally posted by mm3 ↑

THe problem is the Chairman and MD are mates - have been for years. There is no independence, it's jobs for the boys, always has been. Look at the Rex scenario - reluctantly leaves the board and is retained as a consultant then they scratch each others back (again) in WMG. This is AFTER both are removed from the TRT board and this is dressed up by PB as "devoting all my time to TNG". If that was actually the case the TNG board would have pulled him up on joining another board.

Jobs. For. The. Boys.

As Fitzi says, nothing will ever change while JE is the Chair and BOD remains as is.

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I saw PB's directorship on the WMG BOD as a sign that PB will probably be stepping aside once FID is announced.
I imagine they anticipated that happening before now but the drawn out environmental approvals and subsequent change of site have "put a spanner in the works".
Also it doesn't seem to be unusual for an MD/CEO to sit on another companies BOD. Sharing learnt knowledge and expertise can't be a bad thing in either direction!

I see the MD of CXO is a director on SLB's BOD

TNG Price at posting: 7.6¢ Sentiment: Buy Disclosure: Held
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