RE:An Open Letter to the Torstar Voting TrustDear Voting Trust Members,
I cannot emphasize to each of you how important the first step of removing Honderich from the chairmanship is in extricating your families, shareholders and employees from this value destroying nightmare. Think about how you placed your families trust in Honderich who promoted David Holland as his humble but bumbling dupe to do his bidding when required, but most importantly to stay out of his way. What were you possibly thinking when you bought this bill of goods?
No one can blame Holland for taking the job and the millions that came with it. They can however blame Honderich for promoting someone with no CEO skills and absolutely no experience outside of a pure staff finance position. He avoided any P&L experience his entire career until he was unwittingly promoted to run a complex billion dollar corporation in the middle of a structural maelstrom.
Those of you who wanted to accept the Fairfax offer and were thwarted by Honderich's refusal to cede control must proceed with unshakeable resolve to end his reign of insanity. He is destroying what is left of your families significantly diminished fortune so that he can indulge in his toxic role as the overlord of the Toronto Star. Stop him before it is too late and you are left with nothing but regrets.
Once again,
Your Concerned B Shareholder