Sasha, Sorry you miss the point. It's the Boards role to set the CEO's responsibilities and hold him accountable for meeting agreed KPI's, timeframes in the best interests of the company and its Shareholders. The previous Board, and unfortunately this one have been ineffective in ensuring Paul meet operational criteria and to the best knowledge of shareholders have not held him accountable with salary reductions, implementing greater proportion of "at risk" remuneration, publicly proclaiming timelines are to be met by the CEO (or else), forcing the CEO to bring in someone who will deliver, or ultimately moving the CEO on...
In this environment, the CEO can underperform comfortable no action, which is detrimental to the company and shareholders. The tail is wagging the dog in the current governance structure. Paul is more likely to go when a Board holds him responsible and accountable.
Hence, to my mind its the Board that needs a reshape.
Furthermore, we can bitch all we like about Paul but shareholders don't employ him. Shareholders do however vote on Board appointments and Remuneration.
TNG Price at posting:
7.1¢ Sentiment: Hold Disclosure: Held
