The progress has been very disappointing, so the CEO has dressed it up as best he can.
I get the impression that the Board, via the non-exec chair and the other female Director both of whom have had their directorships challenged, instructed the CEO to write the letter so as to hopefully garner support for them in the looming voting battle. He would be bound to write it I suppose, seeing that it looks as if it was a Board decision.
I would be surprised if he wrote it off his own bat. If he did though, then he has attached his caravan to the Fotios camp I reckon.
What should a CEO do in a situation like this?
AUR Price at posting:
5.0¢ Sentiment: None Disclosure: Held
