It has been quite apparent the 3 existing CNP directors were very happy to retire once suitable candidates for directors were found. Whilst everyone seems quite excited about these new directors & yes they do bring a string of positions with their backgrounds, I personally believe the retiring directors were far more experienced by a country mile. Interestingly, 2 of these directors have a link in that they are both involved with The Smith Family. Of the 3 directors, Robert Tsenin looks to be the pick of the bunch, looking at his background & experience. He would have also been a known quantity given he has served on the AXA Asia Pacific Holdings Ltd board with current CNP Chairperson Paul Cooper. CNP directors are very well paid for what they do (over $140,000 pa with the chaiperson on $400,000 pa from memory), so hopefully they are capable of making tough decisions & being prepared to stand up to the bankers. Given some of the hard yards have already been done, hopefully they do have the vision & ability to perform. Regards Buffett
CER Price at posting:
10.5¢ Sentiment: None Disclosure: Not Held
