10 MILLION DOLLAR PROBLEMPrelude:
That’s the value of the Directors Compensation Package 2020! If we are successful and get rid of them, that will be the tip of the iceberg. Don’t worry, we have 1B dollars sitting in the bank! For the sake of the company, it would be well worth the cost!
Lately, I’ve been posting more than usual because I think it’s important that the story be heard and not buried in the back pages. Time is of the essence, the AGM is on May 4th, 2021. The central issue is about the ongoing scheme and self-serving interest that’s been perpetrated at IAMGOLD for years at the expense of the shareholders. Now, we all know the BOD’s end-game. I’ve provided you with all the detail information you need to help you see what’s really going on, how much more evidence do you need before you step up and end this charade? These executives are about to make millions at the expense of the shareholders, where does it end? It’s a bloody shame what they are doing to the shareholders! Their playing a high stakes game at the expense of the shareholders! The lack of leadership and incomprehensible decision-making has been horrendous and now we are witnessing their final act. According to the Compensation Program 2020, the current President and CEO is on the verge of making millions of dollars while the shareholders languish in pain. His base salary plus the incentives will exceed $2.7M dollars. If you include the remuneration packages of the BOD, the Operational and Head-Office costs will rise exponentially. The total compensation value is $10M for these directors. All these executives are in their 60’s and 70’s and at the end of their careers. These mining executives have shown that greed and audacity has no limits when it comes to preserving their self-serving interest. I think that they are setting themselves up to sail into the sunset and at this stage, they don’t give a dam about the shareholders. We must act and put a stop to this insane carnage of out-of-control costs. Lord help us if they are allowed to get away with their golden parachutes! INSTITUTIONAL HOLDERS are you listening, please do not give these guys a free pass! Shareholders, in my professional opinion, if you want a reasonable return on your investment, the only solution is to vote them all out at the AGM and clean house. We will be better off in the long run. And I must reiterate, “Each and every vote counts and it could decide the future direction of the company”.