The typical corporate structure has shareholder voting on who is on the Board and approving certain large transactions or transactions where there could be a conflict of interest like issuing performance rights.
This elected board then sets the strategy and choose a MD to implement that strategy. The board should be holding the MD to account on the execution of the strategy. This creates a problem for shareholders if they don't think the MD is doing a good job, particularly in one part of multi-part strategy. There isn't a shareholder vote on who the MD is, only the Directors. Shareholders can vote in new Directors, but that takes time.
This means voting JB out isn't really a short-term option.
E25 Price at posting:
69.0¢ Sentiment: None Disclosure: Held
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