Obsidian Energy Ltd T.OBE

Director Departues

[Leftcoast04]

Does no one question why two independent directors resign immediately two days prior to the agm?

[kavern23]

No bro...this is the exact time any director should resign...right before the annual meeting as that is when all directors terms end. Those two directors got voted to serve a full term in that role and they did right up until the annual meeting.   Even in basic condo boards...that's how classy people would resign from a condo board....never middle of the year unless a real good

[Leftcoast04]

Thjat is inaccurate.  They were nominated to serve for the next term (in the circular) and resigned 2 days before the meeting.  This is a red flag.  

[Hendrick3]

I think the answer was there has been ongoing lobbying to reduce the Board from 8 members which was too costly for a small cap like OBE. A shareholders group suggested that support be dropped for 4 Directors to help management make their decision. My guess is that the two resignations were from the lowest support director nominees. They decided to resign rather than being officially fired by the