Question of the Week
How long before new manager arrives?
By: Graham Howes
IF all shareholders on the floor call for a no confidence vote in the present board. Even though Ramsden and the board will be able to counter block with their share holding. The position could become unattainable for board to continue and would result in mass resignations.
I also suspect a sinister move in getting Fenty before the AGM, Carr will not exercise a no confidence vote while Fenty is on the board. Ramsden is crafty and knows that if he didn't move quickly, the AGM still despite not being able to technically have enough votes to depose the board (say a 65-35% defeat for the board) would have made it difficult to continue.
I have spotted Ramsden's motive and this now means he will just win the share vote. While this will give him the mandate to continue it is still not convincing victory for the board. I thought the Tory leadership was a joke the political games in our boardroom ready for the AGM make Tories a Mickey Mouse contest.
Despite that, Fenty is a sincere man. Unfortunately he has been used and that is a shame. Sounds like Ramsden & Carr have struck a deal with Carr to get Fenty on the board in buying votes to back the board.
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