To suggest a board member should go because you are not happy...

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vwboy

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14/03/20

12:50

Post #: 43492189
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Originally posted by Elusive Lahood ↑

The points you raise are valid and I wrestled with them before deciding to post about the board.

I agree that there are many things going on and across multiple jurisdictions. This is one of the reasons why I believe Tony must stay on. To remove him at this stage I think we run the risk of exposing ourselves to a significant knowledge and capability gap within the company and potentially disrupt the commercial negotiations/discussions already underway.

However, when I ask myself the fundamental question of whether I believe the current board has the ability to successfully lead this company, based on their track record - my answer is no.

Therefore, to my mind, the logical next step is to consider whether some form of change is required.

I’m not campaigning for a complete board spill. For the reasons you stated above, that would do more harm than good. In reality, the outcome that I am after is: 1. for the board to remain accountable to us (the owners of the company), 2. in the process look to bolster our board’s skills and 3. enable fresh perspective/ideas to compliment our existing commercialisation strategy

As stated above, my issue is that the value the non-executive team bring to the company is not clear to me. For this reason, I believe it might be time for one of them to step aside. I have suggested that Natha Buzza should be that person because the evidence of his contribution to the company appears to be the most scarce.

The fact that I can’t point to a particular person to replace him at this stage should not mean that the topic should not be considered. It’s not my role to find a suitable replacement.. it’s my job as a shareholder to challenge the board during these times to ensure that they are acting in the best interest of their shareholders.

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To suggest a board member should go because you are not happy with them probably means the whole board should go.
How could they not know how each person is performing?
Surely they have meetings and discuss strengths and weaknesses of each other.
How do you know what he is doing or not doing?
Could not tell you anything about what he is doing but could tell you about what he has done by reading his bio.
He has to have something to bring our company...he could be our greatest asset, who knows.

IMO. The one constant has been failure to succeed in America.
Either our product works or it is crap.
If our apps sell in Australia and Europe and China and our share price appreciates and then is knocked back down again by FDA failure again. Then sack them all.

RAP Price at posting: 8.7¢ Sentiment: Buy Disclosure: Held
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To suggest a board member should go because you are not happy...

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