SHAREHOLDERS CALL FOR ACCOUNTABILITY
Chair of the BOD – D. Charter (hired 2003) and President & CEO G. Stothart (hired 2007) must be held accountable for the erratic roles they played in carrying out Mr. Stephen Letwin’s policies, objectives and goals during the take-down of the IAMGOLD share price to historic lows. The riches they accumulated were done at the expense of the shareholders. Unless we have accountability in our system, there is no system!
It bemoans me to think that the Chair of the BOD – D. Charter (hired 2003) and President & CEO G. Stothart (hired 2007) are the longest serving executive employees. Both were appointed to their current executive positions by the infamous Mr. Stephen Letwin for their support in carrying out his policies, objectives and goals. Indeed, these appointments were rewards made to ensure the continuity of his legacy. It’s even more eerie and bizarre to see these two individuals who became rich at the expense of the shareholders and are now sitting on top of the organization. At this stage of their careers, these two aging executives will say and do anything to retain their power, protect their high paying positions and their accumulated wealth and vested interests. Simply stated, they are driven by greed! Integrity is not their strong suit. Their legacy is sealed.
The sooner these two aging and under-performing executives see the light of day for their actions and announce their VOLUNTARY RESIGNATION; the better off IAMGOLD will be as a public trading company. This outcome would be a win-win for all. They’ve made their fortunes and it’s time to get out. Failure is not an option for IAMGOLD, we the shareholders must express our sentiments as clear as we can and do whatever to push these two under-qualified and misguided executives out the door. We must let them know that their actions are not acceptable. Shareholders growing disillusionment is running high, when they use terms like “BAD ACTORS” to describe the two top leaders at the top of the organization. As one disgruntled shareholder commented, “Keep the phone calls going into Head-office, asking what the hell is going on!” Hopefully, they’ll get the point. The stakes are just too high to standby and do nothing. Mr. Stephen Letwin got the Message!
Despite all the shananigans that we suffered under the regime of Mr. Stephen Letwin and his two deputies, I remain the eternal optimist and see a brighter future ahead. Investors have faith; our investments will survive and flourish…