Rubbish.
You can get a good, experienced CEO for $200k-$300k p.a. and also easily offer well established, transparent KPIs/targets for him/ her to meet to trigger bonus shares/oppies/whatever....
A good/great CEO is worth their weight in gold.
At present we have a demoted RB acting as a 'general manager"..... that's just folly.
I note his 2-year contract expires 1 March 2023!
The notice period is a bit vague - might be 6 months....
Want to save more money? Cull a company secretary - why are there two (for a pissant explorer)?!
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