Isn’t this a sign that the SHs have no confidence in a particular director and hence time for his replacement? Isn’t that a key decision and right of every SH? How can that be a waste of time? (FYI, I didn’t vote as I only hold oppies).
I think for many companies it is difficult for SHs to know the contributions of individuals on the BOD so this question may arise from time to time but it also shows that there was a reasonable number of SHs or a few biggies who voted against.
I am not familiar with the spill process but will watch keenly to learn. No advice.
ILA Price at posting:
18.0¢ Sentiment: None Disclosure: Held
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