RE:RE:Board Of Directors The legal threshold for being elected is 50% plus 1.
However I have seen directors with witheld votes in the 20% range tender their resignation on the spot....and unfortunately none of the directors with low approvals last year resigned last year....
I think anything below 90% approval should be a red flag and the Chairman should request a resignation if the director does not tender his resignation
Wino115 wrote: Will be interesting to see percentage approvals for members this year vs. last year. My recollection is that there were two noticeably lower percentage votes last year and those numbers were around the 70-75% levels versus 90%+ for everyone else. If anyone is below those 75% numbers we can conclude it would have been a larger shareholder voting "no". I was hoping for the sake of resource conservation until such time it's 100% clear there's a larger commercial opportunity staring them in the face that the Chairwomen would have shrunk the Board back down. If nothing else, then lower the fees for this year and up the options. We saw with Europe that management is looking for anyway to lower costs in future years, so help him out. But you are completely right that it's an "insider" Board that could use at least one, if not two, outsiders who think differently, think only of shareholder returns, and bring market saavy along.
I was hoping Soleus would have put someone up to the Chairwomen for that role or roles as she couldn't say no to that. Don't expect much change unless a Board member retires him/her self after seeing low vote tallies. Past experience shows they don't jump off the gravy train, but any self-respecting member should take a bunch of shareholders specifically voting no as about the only strong way a message can be sent inside the bubble. And they should listen to it and move on.
palinc2000 wrote: I think it is high time to remove/replace the Chairwoman...She is the one responsible for determining the number of Directors and the qualifications required...
Most board members sit only on THTX s Board and no other public company s Board..They are not what you would call a Select Club,,On the contrary they are perceived here as the Montreal Club... .....
THTX Directors are very handsomely paid .......Objectivity and independance are at the core of a well run BOD .......I may be wrong but my impression is that we have a weak Board and my votes against reflect that...