OTCPK:VGIPF - Post by User
Comment by
InvestorSuperfanon Jan 24, 2014 3:38pm
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Post# 22131893
RE:RE:"Budd"ing Controversy
RE:RE:"Budd"ing ControversyIn fairness to Mr. Budd, the day RPL announced he was joining the BOD (April 26, 2013), RPL's share price closed at $1.21. The biggest concerns I have with Mr. Budd since that time are: 1) Why wait until after the AGM in September to relieve CEO Michael Erickson if his duties? 2) The previous CEO was dismissed Oct. 9. It took almost one month (Nov. 5), and after FrontFour made it's proxy meeting intentions known, before the Board hired an "executive search firm" to find a new CEO. To date, that new CEO has not been hired. 3) Why is the Board taking the liberty of selling SE Sask assets before a new CEO is in place? FrontFour, while making some valid criticisms, has not presented a clear path forward, and some of their major platform planks (TSX listing, share consolidation) are bad ideas for RPL at this time. I don't have much confidence in either party, but would pick Mr. Budd's group given the proposed alternative. Rock and a Hard Place type of situation IMO.