RE:What an odd press releaseFurther to my comment, I could imagine where Alvin Pyke is stepping down from the board to make room for the new board member, Robert Tasker.
An aside, Mr. Tasker looks like a terrific addition to the board, though there are parts of this change that are perplexing also. It looks like they're bringing a competitor onto the board!! (I have no doubt that it will all have been thought through so that neither TLA nor Mr. Tasker's company will be compromised.)
Back to Mr. Pyke stepping down from the board. Could he simply be making room for Mr. Tasker? Maybe TLA can't increase the size of the board without bringing it to the shareholders?
But, if so, that would raise two other issues.
First, the press release doesn't say that. It says he is stepping down for personal reasons.
Second, if the board needed someone to step down to make room for Mr. Tasker you'd think they'd have chosen someone other than the CEO--unless, that is, Mr. Pyke will soon be stepping down from the CEO role.
I will not beat this to death. But the company should provide some clarification in due course.