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GW for CEO? Ya gotta be dreaming!, page-67

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05/08/22

08:59

Post #: 62936525
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Originally posted by Morry: ↑

haz13, I think TNG needs change. I'm not convinced that removing the chair and CEO are the right step.

I've never been involved in shareholder activism, and I imagine that by the time a 249D is required, that bridges are already burned between shareholders and management. Which might require a significant action to precipitate change. But I would have thought a simple nomination for GW to join the board at the next AGM would have been a reasonable step. From inside, he could still have played his high-transparency, high-accountability role, but without overly upsetting the applecart.

I can't say how much longer, but could also ask if such a drastic action is required, why right now? Why at this very moment is it critical that we remove the chair and CEO and have a new shareholder build a new board? I suppose the previous failed 249D could be seen as the first attempt which failed and precipitated the need for this.

I'm leaning towards supporting the action. But I think it reflects very badly on both parties (current board and requisitioning shareholders) that a negotiated agreement couldn't be reached.

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I don’t see how GW looks bad for not being able to negotiate because PB said he wasn’t interested in negotiating. It takes 2 partys to come to the table. GW has offered again to meet with PB JE and their lawyers this Friday or Saturday in Perth.

TNG Price at posting: 9.4¢ Sentiment: Hold Disclosure: Held
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GW for CEO? Ya gotta be dreaming!, page-67

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