There has been much speculation pouring across many threads in regards to election of Directors at this year's AGM. It is time for people to discuss it in one place to avoid derailing the other threads.
So far there has been a few different camps working on some faulty assumptions. Particularly that the only Directors up for reelection are the Independent Non Executive Chairman Martin Rowley and the Non Executive Director Peter Bacchus.
Many are calling for heads to roll and given Anthony Tse is not up for reelection those two will do. That assumption is false.
In line with Galaxy's constitution, no director can go without reelection past the 3rd AGM since their election or reelection with the exception of the Managing Director.
The former MD/CEO Anthony Tse was appointed to the board in 2010 and formally elected at the 2011 AGM. He has not had a reelection vote since. Therefore as he is no longer exempt according to the constitution he must face reelection.
The following Directors will be up for reelection. Chairman Martin Rowley Former CEO/MD now Executive Director Anthony Tse Peter Bacchus John Turner.
That's right it is three quarters of the board up for election.
