I agree with Pgbrown about all directors being replaced.
This company is now past the point of just needing a diverse board of directors and a good management team. In my view, the damage to the company in terms of lost time, wasted funds, delayed technology, failed commercial contracts, depressed shareholder wealth, loss of face in the industry, unattractiveness to investors, is so great that a specialist Turnaround CEO is now required. A turnaround CEO is a different fish from a typical CEO. I also happen to know that an offer by a powerful turnaround CEO, who is also a renown technologist, to fix the company for free until it is secure financially, has been ignored by all of the past and current directors.
Expand
