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New Chairman?

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marinernige
September 22, 2011, 8:18pm
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Mike Parker can not appoint a new chairman at the moment, because he is not on the board.
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crusty ole pie
September 22, 2011, 8:22pm

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Quoted from marinernige
Mike Parker can not appoint a new chairman at the moment, because he is not on the board.


Does the board appoint a chairman or is it the shareholders?
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marinernige
September 22, 2011, 8:23pm
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According to Kate, only board members can appoint a chair.
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tarka
September 22, 2011, 8:24pm
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lol....there's nothing like stating the obvious but it is a point most people seem to have missed!  The biggest shareholder doesn't appoint the Chairman, the board does.  Unless there is some agreement between MP and the board then this will need either an EGM or we will have to wait for the AGM in November!
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80sglory
September 22, 2011, 8:24pm
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Didn't someone say Parker could call an EGM any time he wanted and put his own people in ?
Anyone know if that's true ?
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Guttedgate
September 22, 2011, 8:25pm
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What Mike Parker needs to do is place somebody on the board as his rep and then become chair of the club that way!
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MarinerKate
September 22, 2011, 8:29pm
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There's only two ways to appoint a new director, one is a decision by the existing board which is no good to Parker. The other way is by special resolution at a EGM, this would require 75% of shareholders to agree to the appointment.
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tarka
September 22, 2011, 8:31pm
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Quoted from Guttedgate
What Mike Parker needs to do is place somebody on the board as his rep and then become chair of the club that way!


It isn't quite as simple as that...first of all he would need to call an EGM (unless the current Board were agreeable which is highly unlikely) and then populate the Board with people to do his bidding.  At the end of the day, the board appoint the Chairman.  It's certainly doable but has implications including JFs loans to the Club.
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Garth
September 22, 2011, 8:31pm

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Quoted from Guttedgate
What Mike Parker needs to do is place somebody on the board as his rep and then become chair of the club that way!


Can`t though can he? new member has to be proposed seconded and voted on to the board, its not a dictatorship----yet!
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Quagmire
September 22, 2011, 8:45pm

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Quoted from MarinerKate
There's only two ways to appoint a new director, one is a decision by the existing board which is no good to Parker. The other way is by special resolution at a EGM, this would require 75% of shareholders to agree to the appointment.


So Fenty could scupper any attempt by Parker to get someone on the board as long as he holds 26% or more of the shares?

Bit of a pickle then really.
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