It worries me somewhat that Ian Gandel is the Chair of both the Nomination Committee and the Board. Surely that is not an appropriate structure. The nomination committee should really be people who are not to be nominated again to the board, and preferably independent of the organisation - neither of which apply to Ian Gandel. Since he and his family family own over 25% of the organisation - in the event of any kind of a takeover it is imperative to other shareholders that there is some independent representation on the Nomination committee which has a responsibility for overseeing and ensuring independence for the shareholders. Isn’t that right? Glad to be corrected or welcome comment from others who know about principles of governance.
ASM Price at posting:
$2.07 Sentiment: Hold Disclosure: Held
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