Since I am not a shareholder (sold out three years ago) I guess I have a right to criticise this company. I am also interested in CTO's good health because my son sells mining equipment to them.
Something is very fishy when it is a one man show and the five top execs all get whopping paychecks courtesy of their boss. Naturally these guys won't rock the boat.
Looks like heaps of money going to the privileged few. Who controls the remuneration committee? How much can they afford to spend on good mining equipment?
and in the end how much $ is left for dividends?
To me the takeover is just a smoke screen. Trying to give the impression they are growing and to make it look like the board is 'active' and 'entrepreneurial'.
I see it every day in business (I am 58 years old and have been in very senior positions in several companies in the last 20 years). Managers doing things that don't need to be done, fixing things that don't need to be fixed, because they need to be seen as making changes - they think that is what managers do. Simply trying to make existing things work better is not sexy. As I said, it is a smokescreen for continuing poor performance in other day-to-day activities.
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