ISS , Anyone know who paid for their opinion/recommendation? ISS specifically endorses FrontFour nominees Tim Granger and Randy Best for election to the board of directors of Renegade at the upcoming special meeting of shareholders on January 28th, 2014. Read more at https://www.stockhouse.com/companies/bullboard/v.rpl/renegade-petroleum-ltd#XlpeTUCTZ5mZX1UU.99 I do agree with much of what ISS is saying but by recommending
Tim Granger and Randy Best I have to seriously question their expertise. Can they be considered independent if they have been contracted by either RPL or FF?
I do like the idea of splitting the BOD and have recommended that in the past but with a majority of FF's slate. To repeat myself, as much as I feel that the present management has and is doing a terrible job I am also questioning the motives of Front Four and ISS.
Tim Granger's resume presents a few red flags. I can't/won't comment on his credibility but surely Front Four is aware of his past performance and is drawing on his expertise. His resume is in the green proxy. He was President and Chief Executive Officer, and director of
Compton Petroleum Corporation from January 6, 2009 through December 2, 2011. That was a devastating time for the shareholders. I am not suggesting Mr. Granger was at fault but during that time period Compton share value appears to have been destroyed with a couple of recapitalizations and a
1-200 reverse split. Shortly after Mr. Granger and several others resigned. https://www.newswire.ca/en/story/886037/compton-announces-resignation-retirement-of-management-team-directors
Read more at
https://www.stockhouse.com/companies/bullboard/v.rpl/renegade-petroleum-ltd#4WYtx0R5m7GZVVqQ.99 The two RPL directors I am voting to keep are
Turnbull & Clark. They are both fairly knew on the scene (June27/12 & Dec14/12) and have something of value to add to the team. Turnbull has an extensive accounting background and Clark has both financial and management smarts. Along with them I would vote in
Zachary, Sinclair, Pope & Dunfield. They all have some skin in the game and in total this would make 6 and would allow a space for a
new CEO. They could start afresh with some insight from the present BOD.