RE: future
Its not difficult at all to implement a POISON PILL using a number of different strategies. The single biggest problem with the structure as it is now is that Pierre has far too much power. The BOARD and shareholders are virtually incapable of putting sufficient pressure on him to implement change.
Its quite clear that Pierre is a brilliant visionary. Its also clear that he doesnt know what he doesnt know ! The ongoing blunders and absolutely terrible conduct simply cant happen at a company of this profile. If large shareholder groups had the power, there would already have been changes made in the way this company was run.
Its truly truly unfortunate that Pierre cant realize his shortcomings on his own and do something about it. We have heard time and time again that he doesnt consult and heed advice from his board or executive consulting staff... if he did, these ongoing and extremely damaging mistakes wouldnt keep happening.
I am incredibly positive about the addition of National Bank CEO, Kim Anthony as well as Andrew Clark in London. Both of these guys are extremely savvy and informed and I really believe they wont "roll over" for whatever Pierre says or wants.
In the end, the power of the Multiple Voting shares has basically let Pierre say "my way or the highway" to anyone and everyone and that has been extremely damaging. You only need look at the list of executive departures to see how big an issue this has been.
I do believe that we are getting thru to Pierre on these issues but he needs tangible board and shareholder pressure to truly correct the problems.