Sass, page-66

Luckyphil1

As a governance consultant in your prior life, what do you think about Warren Buffet being CEO and a Chair of Berkshire Hathaway? Did that not meet your strict governance requirements because it hasn't seemed to be an issue for the eighth largest public company in the world having seen market beating returns almost every year since inception... I have raised this point before and been called out as Paul Rennie himself by our infamous troll Gan_Gans - the most jaded shareholder on our register with nothing positive to say yet still has his sentiment as buy and his disclosure as held. Rumour has it that he bough his entry PARcel at $4.20 in January last year.... Anyway, now PR is no Buffet but it shows that dual hatting occurs in the largest and most successful companies in the world and has not caused any problems for the shareholders. Why is it fine for a company with a market cap greater than a quarter of the whole ASX combined but not for a mid cap on an exchange which takes up only 2% of the worlds total equities...

What would a really good chair want for their shareholders? 3 months of market beating returns? 1 year? 2 years? 3 years? Maybe his vision is so far beyond 1,2 & 3 year time horizons for this share price and therefore and that attempting to get quick wins with the share price seems pointless and potentially even damaging long term. The man himself is the largest holder in the company. Out of all of us, if this flops it affects him the most via a dollar value.

By all means, if you think there are legitimate concerns then that is fine to raise them. Obviously a few of you have concern with this, but if the shareprice was going the other way, I think you would have no qualms about his ability to dual hat. Just happens to be that the shareprice isnt going up but how much of the shareprice move can you actually contribute to the fact that he is CEO and Chair... If he wasn't Chair, would this really have affected the fact that the FDA had questions on our IND...?

DYOR, IMO etc etc