Yes it really does leave you scratching your head! Perhaps the board have become too comfortable over the years and don’t want to see wholesale changes to the register? Common sense would suggest that it’s in the best interests of Gold Tiger, Sandon and Octavium to work together considering they account for over 62.5% of the register! That’s over $625K for every $1M rise in market cap! Multiply that by a factor of 10 for every $1 million of profit and it doesn’t take an Albert to see there’s no greater incentive! Consider the resulting ff dividends to boot and something definitely doesn’t add up!
Our current board on the other hand hold a total of 0.7% of the register after the termination of Moran and Tharmarajah! A whole $7K for every $1M dollar increase in market cap! Their pay packets for FY23, $908K! That’s excluding bonus, super and termination payments of $422K. What was that you said Freddy? ; ) ….
Whether or not Judson is the man to lead the turnaround remains to be seen imo. Six months in the top job is too little a sample size. The fact that he hasn’t purchased a single share since being appointed to the board some 18 months ago gives the perception that he’s just another snout in the trough though. How’s the market meant to have confidence when the CEO himself won’t sacrifice a percent or two of his salary and lead the way? Moran may have fallen on his own sword; but at least his skin in the game far outweighed his pay packet!
All imho, dyor!
Cheers,
xmagx
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