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#11
10-16-2006, 06:22 PM
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Re: Neteller\'s Director of the Board Resigns
Non-Executives role is an important one - essentially it is to challenge the day to day managers of a company where necessary and represent the shareholders. They are most of the main board - essentially the people the CEO needs to take with him/her. It is part time and they are expected to bring some serious experience from business to the role.
His resignation probably reflects disagreement with Nettellers response and/or his desire to be able to travel to the US for other business reasons. This is not surprising at all, if anything the surprise is it's only one. The overall effect for shareholders is a bad one though - anyone with a real heavyweight business CV will be reluctant to step in here. 
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#12
10-16-2006, 06:56 PM
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Re: Neteller\'s Director of the Board Resigns
[ QUOTE ]
Non-Executives role is an important one - essentially it is to challenge the day to day managers of a company where necessary and represent the shareholders. They are most of the main board - essentially the people the CEO needs to take with him/her. It is part time and they are expected to bring some serious experience from business to the role. His resignation probably reflects disagreement with Nettellers response and/or his desire to be able to travel to the US for other business reasons. This is not surprising at all, if anything the surprise is it's only one. The overall effect for shareholders is a bad one though - anyone with a real heavyweight business CV will be reluctant to step in here. [/ QUOTE ] Absolutely, especially in light of little most directors on an executive board are compensated. The compensation may seem like a lot, but not when you look at how successful most board members are at major corporations. He probably decided it just wasn't worth the risk. I do not think it is a major issue to get concerned about, just continued fall out. Either that or he suffered a major personal loss, had a family tragedy. There are a lot of reasons he may have stepped down. It is just speculation. It is not like their entire board walked out.
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