Made it clear to the CEO what the Board and shareholders expect from the CEO?
Clearly articulated a time constrained strategy to shareholders and the CEO?
Set CEO KPI's and targets to meet the strategy timeframes and ensure growth in shareholder value?
Adequately monitored progress against the stated targets and timeframes?
Held the CEO Accountable and Responsible for meeting those targets?
Put remedial mechanisms in place to address the underperformance of a CEO against those KPI's and targets?
Unfortunately, its a firm no an all counts in TNG's case. The current Board has been ineffective. If the Board was functioning properly, the CEO would at least be in performance management by now. However, missed targets and underperformance with no consequences has become the norm. TNG need a new Board that will hold the CEO accountable and responsible. Only the Board can address the performance of, and ultimately fire the CEO. Shareholders can't...Shareholders can however change the Board through their voting powers.
The point I am trying to get across to everyone is we are wasting our breath calling for Paul's head unless the Board acts. The Board has consistently demonstrated for at least 5 years its not going to act. Time for new Directors IMHO.
TNG Price at posting:
7.1¢ Sentiment: Hold Disclosure: Held
