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Posted On: 09/17/2020 11:02:02 AM
Post# of 148870
The typical way to effect change is for an activist investor group to nominate a new slate of directors and then vote them in.
Usually, this is initiated by an institutional investor who creates the list of directors and gets them on-board for the attempt. Then the 'tute' works to accumulate the votes and 'markets' the potential change and what the future would look like.
Given that CYDY is held by 99% retail investors, this is very difficult to pull off. But if anyone knows of worthy directors, we could give it a shot.
At the very least, everyone should vote for/against the current BOD (and comp plan) to at least send a message. Best case, we can get the operating team (NP and SK) off the board. (The operating team should not be on the BOD, as that creates the 'fox guarding the hen house scenario'). The "nominating committee" of the remaining BOD will nominate new directors, but at least they will feel the pressure.
(Oh yeah, I forgot to mention that CYDY has a shareholder 'unfriendly' term in their ByLaws that only the "nominating committee" can nominate directors. This is another example of poor corporate governance, that we would want to change if we were ever to get an independent BOD).
Usually, this is initiated by an institutional investor who creates the list of directors and gets them on-board for the attempt. Then the 'tute' works to accumulate the votes and 'markets' the potential change and what the future would look like.
Given that CYDY is held by 99% retail investors, this is very difficult to pull off. But if anyone knows of worthy directors, we could give it a shot.
At the very least, everyone should vote for/against the current BOD (and comp plan) to at least send a message. Best case, we can get the operating team (NP and SK) off the board. (The operating team should not be on the BOD, as that creates the 'fox guarding the hen house scenario'). The "nominating committee" of the remaining BOD will nominate new directors, but at least they will feel the pressure.
(Oh yeah, I forgot to mention that CYDY has a shareholder 'unfriendly' term in their ByLaws that only the "nominating committee" can nominate directors. This is another example of poor corporate governance, that we would want to change if we were ever to get an independent BOD).
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