THE QUESTION FOR THE AGM TOMORROW The One question the Board and the Voting Trust doesn’t want to be asked at the AGM:
· The new CEO had total compensation of $2,243K for 9 months work or annualized $2,991K in 2017;
· The CFO earned $1,182K in 2017;
· Neither invested a single dollar in TS.B shares and no insider including any Board members has purchased a single share in several years.
DSUs, RSUs and stock options do not constitute true investments in the company as absolutely no risk is assumed by the holders.
Why in particular has the CEO not demonstrated any leadership and confidence in Torstar by investing even a small portion of his considerable compensation in TS.B? Is there some agreement with Fairfax that prevents all insiders from acquiring shares in the market?
Why is this question important? An analyst or financial reporter in attendance will think this is very unusual and start digging around when they get a nonsensical response from the Chair. If someone stepped up to the microphone and asked this question watch the blood drain from the Board.
I can’t be at the AGM, but if someone reading this asked this question it would be well worth the price of admission. Guaranteed.