I agree we need a strong board with each director contributing to accelerate our future growth. Not just remaining as a director because they turn up for the required number of meetings and are a large shareholder. At this stage of LNYs development I believe holding a large shareholding is no longer a reason to remain on the board.
Just like any small successful company there comes a time when one or more of the original owners need to step aside to let 'next level' managment take the business to greater heights. And the original owner benefits from the added asset/share value. I know because I bowed out to an IPO offer and let my company go to the next level of corporatisation.
I also agree our geo Scott Hall and Stephen Bizzell are great assets to the company.I really have no idea what the other directors contribute and think it would be unfair to criticise a director until we have this information. This question does need to be asked of each director to assess their value to LNY going forward.IMO I believe SB has been shouldering the main part of the work required for way too long.
I am sure Brad Gordon, will already be asking the same questions. It is his role to work with the Chairman to ensure he has a strong board to support the growth he has planned for LNY. I see Brad's appointment as timely and helpful to SHs & SB to assist with board changes if required. In general, it is the Chair’s task to ask a 'deadwood' director to consider their position on the board. As I said I don't really know but I suspect we may have 'deadwood' on the board and if so I would expect to see a change within the board before the next AGM.
IMO forceful attempts at change usually put up brick walls to climb. Forceful actions are unnecessary if the desired result can be done with diplomacy and the support of all. IMO in this case force is not needed. We have already reached that stage of significant change happening to the board and LNY in general. Brad Gordon's appointment as an Executive Director and CEO was the change I wanted to see and should prove to be a huge leap forward for LNY.
In closing if you would prefer not to wait to see how things unfold I suggest you make an appointment to meet with Brad or SB. You also have a significant shareholding and share the same concerns of many retail SHs. You don't need numbers to do it. Now is as good a time as any to address your concerns. Better to hear it direct for yourself. I don't know Brad, but I have known SB for some time and although he is limited by corporate law as to what he is able to share with you, I have found Stephen to be approachable, friendly, honest and a straight shooter. I am sure a meeting with either would be beneficial.
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