SUMMARY OF MY FINDINGS - PRESIDENT AND CEO IMG/IAGSUMMARY OF MY FINDINGS
I just reviewed all my postings for the past year, regarding the job performance or lack thereof of the current President and CEO and it’s not a pretty picture. Admittedly, in some cases, I was repetitious in my comments but only to reinforce the point I was making. I highlighted all his inefficiencies, poor decision-making, incompetency’s and lack of leadership qualities needed to direct a mining company.
Based on my findings, I concluded that this individual was ill-prepared to handle the job of President and CEO of a mining company. Most importantly, in my professional opinion, I don’t think he really fully understood the nature, scope of duties and responsibilities associated with the position of President and CEO. Moreover, when he accepted the position a year ago, the only thing that he could visualize was the sugar and plums associated with the job. (Big salary and share allotments) During his tenure, he has severely damaged the reputation of the company. And he has shown a total disregard for the well-being of the organization (price /share) and its shareholders. He could have prevented the big drop in the share price but he chooses to do nothing but to focus on the protection his self-serving interests. His legacy in the mining industry has taken a big hit over the past year.
At this stage of his career, he has shown no desire or fortitude to tackle the big challenges facing the company. Moreover, in my professional opinion, I think he’s ill-equipped or does not possess the leadership qualities required to lead the company. Incredibly, this man has been on the payroll since 2007! Under the circumstances, I think that he should announce his resignation and retire from the company before the AGM in May.