BOD’s EXIT PLAN – IMG/IAG
PREAMBLE:
I mailed my proxy vote and I feel great! Voting deadline looms closer -MAKE YOUR VOTE COUNT!!!
SHAREHOLDERS:
As I’ve stated several times, I spent my entire career employed in the mining industry at the management level. The issues that we are facing today are no different than the ones we faced 50 years ago. I worked with some of the finest mining executives in the business. In our Policy setting and decision-making meetings, we always had the investor’s best interest at heart because we knew that it was their money on the line.
The current Directors have adopted a complete opposite strategy that has been happening at IMG/IAG for years, the Directors are putting their self-interest first and foremost. I’m a long term shareholder and I remain optimistic and confident about the company’s future. My purpose in writing these comments is to provide insightful information and common sense to the shareholders and hopefully get them to vote against the BOD. INSTITUTIONAL HOLDERS are you listening; please do not give these guys a free pass! The voting results may surprise some of the skeptical shareholders that remain neutral! I’m confident that the tide is turning and the outcome will not be a landslide for the Directors! Change is on the way!
The 10M dollar Compensation Program 2020 is clear evidence where their prerogatives lie! Under our capitalistic system, leaders must be held accountable and responsible for sub-performance – not rewarded! The Directors exit plan is firmly in place, we all know the BOD’s end-game. 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”.