Did I miss the STO announcement?
Well thankfully IMO that little brain fart has been hit on the head over at mineral resources
On Wednesday it was quietly announced on Mineral resources
3 March 2022BOARD UPDATEFurther to the announcement dated 31 January 2022, Mineral Resources Limited (ASX: MIN; MRL or the Company)advises that Kevin Gallagher has withdrawn his nomination to join the Company’s Board as an Independent Non-Executive Director. Mr Gallagher made his decision in the context of his primary role as Managing Director and ChiefExecutive Officer of Santos Limited and following consultations with Santos stakeholders.MRL constantly reviews its Board composition and will continue to seek the appointment of highly skilled directors whocan add significant value to the Company
https://www.copyright link/rear-window/kevin-gallagher-gets-the-memo-20220303-p5a1irthat the appointment of Kevin Gallagher to its board of directors would no longer proceed.This will be pleasing news for Santos shareholders, who pay Gallagher more than $7 million each year to be their chief executive.Santos managing director Kevin Gallagher is sticking to his day job. Trevor CollensFrom the moment this supplementary assignment was announced (on February 1), it was widely detested. Institutional investors were rightly confounded by the Santos board giving Gallagher the latitude to feather his curriculum vitae instead of mercilessly riding him to integrate Oil Search, that company they just paid $22 billion for
Unlike in these instances, Gallagher has just bet the farm on Oil Search. And remember, this is just 12 months since the Santos board responded to enigmatic whispers of Woodside’s interest in Gallagher’s services by handing the Scotsman a $6 million equity grant to lock him in until 2025.The CEO’s job is not a transition-to-retirement scheme. Though they may not acknowledge it, a CEO is simply the company’s highest-paid employee, so shareholders should be able to expect their undivided attention.Much to Gallagher’s credit, he’s listened to investors
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