Ann: Dr David Ali appointed full-time Chief Executive Officer, page-10

Remuneration consultants would have told the board what the quartile pay rates for Biotech CEO's were - if they paid for the service. I reckon they pulled that number out of a hat. David Ali is no CEO and there is no way he is worth that salary, but they can't keep him as 'acting' for ever, and its clear nobody better would take this job.

How much should they pay the CEO? For a company with little to no cash, little to no revenue, little to no value to offer into another capital raise, I would have thought it logial to offer him little to no cash, but a massive (I mean massive) slice of upside in options. Whats Ali going to do? Get a job somewhere else? Hahahaha. yeah, right...60ish year olds with little to no public bio executive leadership experience are in big demand in bioland right now.

7 months on, sacking the former CEO looks like it made not the slightest impact in the demise of MEM's fortunes.