Amazing isn’t it ?I’ve been calling for Phil to be axed for...

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CheyneD

1,855 Posts.

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30/10/23

20:57

Post #: 70625432
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Originally posted by Pie-O-My: ↑

I tell you, this Remuneration Report and ASX Query have really set the stage for a spicy AGM, that's for sure...

a) As Chairman of the Risk and Audit Committee, has Murray Chatfield set these recommendations and remuneration policies which have then been adopted by the board?

b) Has Phil Staveley gone rogue and decided to increase his own fixed remuneration to $1,500,000?

c) Or is the board somehow complicit in all this, and decided to increase Phil Staveley's fixed remuneration to $1,500,000?

'On 28 July 2022 the NeuRizer Ltd (NeuRizer) Board approved a change to Mr Staveley’s remuneration aspart of a periodic remuneration review (NRZ response to query (20/10/23)'

Well, according to ASX query, you'd say c) for sure, and probably a) ...
If that's the case, is the fixed remuneration increase within Murray Chatfield's remuneration recommendations? Or if the board has done this, where is the justification from the NRZ board? The remuneration is based on several factors outlined below, many would say his performance has been poor at best (in my view), so again, how was this justified??

Now this is another beauty, wouldn't shareholders love to see this contract.. What could possibly be in this contract which justified the increase in fixed remuneration for Mr Staveley from $677,000 to $1,500,000 on 1 August 2022..

I think it would be safe to say that there may be a swinging vote at the 2023 AGM

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Amazing isn’t it ?

I’ve been calling for Phil to be axed for years now.
IMO, it’s been clear that he’s out of his depth… and reliant on Justyn/Christian/Tony to makeup for his shortfalls.

So not only did he previously participate in a board vote to allocate himself millions of free shares for meeting almost none of the KPIs set out at the AGM ….

Not only is he, in my opinion, horribly awkward in front of the camera and in interviews, whenever he represents NRZ ….

Not only did he appear to fill vacancies for expensive roles that weren’t needed and were obviously premature … which increased the already insane quarterly cash burn, as the shareprice went down …

Not only did he recently dump shares on market, when the stock was recovering on the back of the Hydrogen Announcment …

But this bloke has somehow managed to convince the board, that with the Market Cap plummeting from $200M odd to $35M odd … that he somehow deserves almost DOUBLE his previous remuneration … ?!?

If he was shown the door years ago, the company would be in a much healthier position.

He needs to go.

He has been, in my humble opinion, one of the worst and most destructive MDs I’ve ever witnessed in a speculative stock … and that’s a pretty unfortunate achievement.

So join me in congratulating Phil Staveley. Slow clap, please.

All in my opinion of course, DYOR etc etc.

Cheyne.

NRZ Price at posting: 3.0¢ Sentiment: Buy Disclosure: Held
28 Upvote

7 Great analysis

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