RE:RE:RE:RE:Open Letter to ManagementForhandlaren,
We have been given Howard the benefit of the doubt for so many years, but it has been in vain.
As stated earlier, HR is a risk area and we, but also Howard, would not like to on-board a new Attila.
But I certainly hope that Howard is clever enough to act on the CEO issue when/if a deal can be settled. However, in order to attract the right candidate, such a recruitment should be done from a position of strength.
It is a good thing, however, that Howard has recognised the need to bring on Linda, it is risk mitigating measure. He recognises that he himself do not have the full competence within this area, and that cannot be expected. My experience from working in small organisations is that you need to work with a little bit of this and a little bit of that, but you certainly cannot have core competence within all these areas.
And you are right Bazooka, there is no sound governance in the company and there has never been. The role as chairman and CEO should be separated as is standard procedure and national law in many countries in Europe where the CEO reports performance and development to the board on a regular, often quarterly, basis.
Furthermore, the board members should have core competencies so that they actually can contribute and influence. The board members is expected to govern the company and be responsible for establishing governing documents such as annual business plans and long-term business strategies, after input from CEO and management team.
Since Howard is a former venture capitalist, he certainly understands the shareholder perspective, but up to this point he has not considered it much. The shareholders are an important stakeholder, but we have not seen much development in terms of economic progress, nothing much has happened to the share price.
Howard must understand that we would like to see short and long term actions that strengthens the company AND the share price after a number of lacklustre years of management and performance. Transparency is a good thing…: )
I hope for the best for Sirona and us long term shareholders during 2022.