RE: RE: The Resignation of Marc Tellier CurlyMick, thanks for the feedback. I have no doubt IR has received far worse than this over the past week and months. There are many points that can be made about Mr. Tellier's performance, but I'm trying to keep my message as brief and succinct as possible. The company representatives already know their own history. It's time to look to the future.
Below is what I just sent this morning. Subject line: Will Mr. Marc Tellier continue as CEO?
I am a shareholder of Yellow Media Inc. My decision to invest in this company was based on changes being made within Yellow Media Inc to strengthen its financial position and increase competitiveness in a digitally driven world. I view the position I've taken in Yellow Media Inc as a long term investment.
The appointment of Ms. Ginette Maillé as CFO was a major step in addressing the financial obligations of Yellow Media Inc. The recent additions of Messrs. Leith, Robertson and Forman, and the creation of a finance committee to review refinancing opportunities are also welcome news. However, the most prominent representative of the company during its dramatic decline in Market Capitalization still remains in place.
As CEO, Mr. Tellier represents a legacy of investment decisions made my Yellow Media Inc that have had limited returns for shareholders. His continued visibility is creating a cautionary and even outright negative sentiment within the investment community. The drop in share price following the Q4/2011 earnings release and conference call is a reflection of shareholder confidence in his message. Even if he were to move into an advisory or secondary role on the board, it would demonstrate some respect towards shareholders and that he's committed to rebuilding shareholder value.
My question to you then, is will Mr. Tellier continue in his role as CEO after the AGM in May?