I am curious as to the specifics of where he will add value given he is not a full time employee of the organisation, and therefore unlikely to be involved in the day to day activities.
$50k salary and $40k in shares is $90k in the first year. Not a crazy amount, and whilst I appreciate as a director he has exposure to legal liability (which he can get insurance for), but if the board were to meet 12 times per year, that is $7,500 per meeting, and the amount he earns per meeting obviously goes up if they meet less than monthly.
12 times per year for subsequent years is still $4,166 per meeting.
With relation to his previous roles, I can't comment either, but I do trust Paul's judgement. I'm keen to understand how he came to joining the board of AKO, perhaps he and Paul worked together previously at RIO?
I agree and think he needs to make a decent sized (at least $20k) investment in AKO.
I also believe that at least 25% of a directors fees should be put back into the company each year as it helps ensure alignment with shareholder interests.
Let's see how he goes.
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