BOD24 Jan 2019 16:37
Lets take a ficticious scenario.
Flybe is a great company,no losses,profits up,everything green in the garden.
The BOD then decide,what a great job we have done,we deserve a pay rise.I as a shareholder (ie employer of the board) think,well ok by me, i am in the money,investment worth more than it was.Nil problemo.
So the board put this proposal forward,and request that this raised/voted on at the AGM.More than likely this would passed by the shareholders,again their employers.Jobs a gudun all above board and AOK.Note i did say raised and voted on,not just we think we deserve it and were having it,bollox to you.
So if this was the case do you think every shareholder would receive a ballot paper.Dead right they would.
Now lets look at the diversity vote.Total opposite.
Bod have totally cocked up,run company into ground,full of debt,virtually bankrupt.
Shareholders (still the employers ) not happy bunnies.BOD have meeting,and decide easiest way to save our arses is have a diversity vote,to make us Top dogs and bollox to shareholders,after all they just pay the wages.Ah somebody says,would they accept it ?,well,somebody else says we will put to a vote,but would they accept paying their dosh and loosing their power/money.Easy we will be very vague in telling them,and we won't let them vote unless we know they will back us bobs ter uncle fannies yer Aunt,guaranteed landslide in our favour,we can do what we want,cos it will take the numptys weeks to work out the landslide only consisted of 25% of them,and in that time think what havoc we can cause.
Sound familiar
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