RE:RE:RE:Compensation rejectedHe says he thinks the negative vote on compensation was prompted by the company's share price, which fell nearly 40 per cent in the 12 months before Cation launched its proxy challenge in early April.
What is most disturbing about Saxberg's statement is that it clearly demostrates his profound belief that his role is to run Crescent Point for the benefit of Scott Saxberg, not the shareholder. He sees no relationship between enterprise/shareholder value and management compensation - the two are mutually exclusive. He seems to believe that he is indispensable and deserves every penny he receives in compensation regardless of whether the company is growing, shrinking, making earnings, destroying capital. Scott is Scott's biggest fan with an ego the size of Saskatchewan. His long ago inflated sense of self importance has been, for years, a liability to the company he helped create. His time to step aside is long overdue.