Executive Shuffle I have no idea of the implications of this shuffle. Any thoughts? More arbitrage? New roles should be worth a few new shares???
WINNIPEG, MANITOBA--(Marketwired - Jan. 23, 2014) - Empire Industries Ltd. (TSX VENTURE:EIL) today announced that Guy Nelson, Chief Executive Officer, has been appointed to the role of Executive Chairman of the Board, in addition to his role as CEO and President. Ian Macdonald, who was previously the Independent Chairman of the Board, has been appointed to the role of Non-Executive Chairman.
"The functions of Executive and Non-Executive roles Chairman were seen as two very distinct roles by the Board of Directors", said Guy Nelson. "Separating the roles between a management director and an independent director allows the Company to maximize its leverage of the skills and experience of its leadership team."
In accordance with the position description approved by the Board, the Non-Executive Chairman is an independent director with particular responsibilities for ensuring that the Board of Directors evaluates the performance of management objectively. These responsibilities include the responsibilities that are typically associated with a Lead Director position.