Post by
newenergyguy on Nov 05, 2013 11:23am
What a Joke - The Tom Budd Board
The board repairs poor governance with more poor governance. Individuals named report directly to Tom in other roles. No stock ownership...again. Half the board from Toscana with very questionable track records and clearly friends of Tom B. Embarrassing, a $750mm company being run like an insider $10mm microcap at the expensive of shareholders. Increased the board to 9 members, more G&A for shareholders to underwrite plus hiring the most expensive proxy advisor firm in the country to fight.........shareholders, whom they work for. They're now starting to find a management team?? 8months after starting a "strategic" review....what a joke
Poor attempt at fixing their governance issues and mopping up their poor track record. An even more unaligned board then before. Sickening. Recall, only started these moves once shareholders finally had enough and asked for change.....very poor outcome.