Ann: Michael Malone Appointed as Non-Executive Chairman, page-132

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aniesbaswedan

6,681 Posts.

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02/11/18

15:29

Post #: 36370633
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Originally posted by aniesbaswedan ↑

"Hey Anie - why will MM simply act as a go between himself and the Board."

Because that is the role of an independent non-executive chairman. He is not responsible nor obliged to work his butt off in any shape nor form especially to chase after contract, etc because that is the work of a CEO and MD, that is Meir's job and not an independent non-executive chairman. Like I said, MM's role in SAS would be very limited in capacity and to put it frankly, to just sit there and look pretty and to get investors hope up, get his face and name appeal on media coverage. If SAS intention is for MM to work his butt off or contribute substantially in any shape or form then he would have been appointed as a CEO or a managing director or any other executive position instead of non-executive. Those performance rights you mention? That is an incentive for him to become a non-exec chairman in SAS. He would not agree to the appointment for nothing, no one would. Now he could just sit there and if SAS succeeds then he get all the performance rights and if not he loses nothing. Meanwhile SAS gets the benefit of the euphoria that came from his appointment no matter how inconsequential it may seem. Publically traded company is full of politics.

As far as I am concern, CR is all but guaranteed and MM or not would not change that.

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To correct my post, what I meant by the role of MM is to act as a bridge between Meir and the board. So not a go between himself and the board like patawalonga seems to incorrectly assumed.

@sim9 SAS gets their entire funding from Australia, which then they take in its entirety overseas. A total net outflow of fund from Australia into countries in Europe and Israel.

Last edited by aniesbaswedan: 02/11/18

SAS Price at posting: 6.2¢ Sentiment: Sell Disclosure: Not Held
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