shareholders must voice concerns...
I have been critical of our CEO, Hugue's performance over the past year plus. This has been based solely on his poor performance, lack of leadership and overall lack of competence in executing, delivering with best in class industry assets. While I acknowledge Hugues comes across as educated and informed in the areas of 'graphite,' he has been very poor in executing the three pillars of a junior mining company:
1) Capital market management
2) Market messaging
3) Execution
I believe this is fact, not opinion. The numbers, stats, news releases and charts don't lie. Separating the person from the position, Hugues has not delivered anything of substance as Northern's CEO in over two years.
My criticism of Hugues and other management has and continues to be based solely on their lack of business performance, nothing else. Shareholders have an opportunity to vote their concerns and should do so.
We are talking about business, not personal...over compensated executives paying themselves gross amounts of money for zero execution and zero delivery of anything that isnt a liability. We can complain and vent our frustrations on public forums about poor performance, but what matters is voting those concerns when and where it matters.
I'm sure all of these guys on a non business level are nice enough in their own walks of life, but on a professional level, where is the justification for those outrageous pay packages within the backdrop of our poor financials. We are losing money every quarter, paying millions in salaries, no partners, no contracts, no govt funding, no political endorsements, no binding deals that aren't liabilities....and on and on. Our share price sits at an all time low...our market cap has lost how many million, 40 million? since Hugues took over as CEO...all the while Hugues collected a total compensation in 2023 north of 600k according to youknowwhat's findings via SEDAR filings.
How is that okay? How is any of that okay? What does our pay committee say to those shocking pay figures in the absence of any deliverables? Why do we support zero execution with gross pay and compensation?
I just want to separate the people from the performance, or lack there of....re my own personal criticism of this management team. When we vote, we are voting based on poor performance, poor financials, poor share price, poor market cap, poor capital market management, and poor market messaging...we are not voting on anything personal, whether or not these guys are good guys or bad guys. Some of you shareholders may know some of these board or directors etc...it doesn't matter, its not personal.
NGC is a public company. I and every other shareholder has the right to openly criticize the management of that public company. I believe the ones responsible for shareholder wealth destruction are living the life on ridiculous salaries and compensation which are not consistent with their performance. I will be voting my concerns shortly and so should everyone else.
Enough is enough.