RE:Replacement for Mr Hinsefbedard29 wrote: Hi Who as a significant shareholder would vote and replace Mr Hinse by a person that has no stake in the game.
Mr Hinse has +- 20%
Mr Mestrallet has +- 20%
Normand Hinse has +- 6%
I with family have +- 8%
I know of a few that have +- 3% each
Add all that up and 65% of all share holders are concentrated in 10-12 persons.
None of us would be ready to give control to a complete stranger (that has no stake in the game).
If ever a person came up with a few $m to invest of his personnal money then we could have faith that he would do all that is needed to advance Abcourt and that would benefit all shareholders.
Fernand
As I said many years ago, without the support of a few major shareholders nothing will change. Companies employ CEOs not because they have large stakes in the company, but because they are incredibly good at performance related tasks. The group of shareholders we have at Abcourt fail at the performance level.
What Fernand is asking is not possible.Someone gifted in performance and has several million. They could do better much higher up the food chain.
Football clubs, for example, do not ask their managers to buy into the club before being allowed to manage. It would be a preposterous situation. The owners own. The managers manage. Unfortunately we have a situation where the owners also want to manage. So we have the ridiculous and laughable situation where Abcourt Mines has a 94 year old CEO.