Share
9,288 Posts.
lightbulb Created with Sketch. 2357
clock Created with Sketch. 15/11/21
23:49
Share
Originally posted by beachmat
↑
Although I can understand that there is quite considerable frustration and there has been significant discussion regarding this motion, I feel there needs to be some realistic consideration before pulling the trigger here and creating a mutiny. There should be a bit of thought into what this will mean should Rhod be voted out of the company as Chairman. I would also like to disclose that I have had several discussions with several other Top 20 holders (please note we have all been here since the 0.5c days) and we agree regarding these points. I do not appear personally on the Top 20 as I have a large holding across several family members, but I will say that I am well in there. I have had many discussions with the board and other big holders well before ADN was any anyones radar and understand the initial workings that these people did when we were a minnow. I understand that times have changed the circumstances and requirements that we need going forward, but please consider the below.
Expand
Keeping Grivas is just as good as not having a chairman. We will pissing away money paying him for doing nothing. We should not be pressured into keeping him because “it is not the right time”, so when “will it be the right time”, three years time? If Grivas stays on then his pay should be totally on performance related pay rather than him being paid to deliver no value to shareholders. At the end of day Grivas is there to work for the shareholders as that is the job of the Chairman, to protect the shareholders! The company should outline KPI’s for the chairman to deliver on, and if he fails then we he should not be rewarded, as simple as that. We the shareholders should not be carrying the failures of the chairman and he still walks away with his renumeration but the shareholders left with nothing! I know that James mentioned that without Grivas and Shearer then he would not be at ADN, but Grivas and Shearer have been rewarded for that, they need to now highlight what are they going to offer for the future. I personally think we need a more experienced chairman, and I really have not got a clue on what shearer does as a NED except sit on the renumeration committee along with Grivas offering themselves pay rises or free shares/options which is ABSOLUTELY NOT ACCEPTABLE, unless they have earned it by meeting their KPI’s!!!!
Last edited by
Lilow :
15/11/21
(20min delay)
