The last week has been filled with fireworks in the board rooms. With a well known investment bank, the second largest shareholder has called an emergency general meeting as he has is displeased with the way the current Managing Director is handling affairs at the bank. With a utility company also, five of the top brass have been shown the door. Someone referred to that move as a 'tsunami' which had blown across their boardroom and I agree wholeheartedly.
Regarding the first saga at the investment bank, it has got a number of shareholders excited as some never knew they could wield such power. For those of you who may not know this, Ghana has a very vibrant stock exchange but in terms of shareholders rights etc. not many are aware of what their rights are.. they go to meetings like a pack of sheep and enjoy the refreshments served. Others are more vociferous in their lack of understanding of the balance sheet and why dividends were not paid this year etc. I say it is all good and in the line of what makes the corporate world tick.
We hope that the EGM will go on smoothly and there will be no flying missiles in the board room.
The managing director is an old friend of mine and I wish him the best of luck at the meeting.
To the utility company I say well done in making a bold move... let us hope that the new entrants will show dynamism and professionalism.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment