1. Gucci33's Avatar
    Despite agreeing to address concerns over the shared Co-CEO and Co-Chariman roles held by Research In Motion bosses Jim Balsillie and Mike Lazaridis, the company again finds itself in hot water after a report from proxy advisor Glass Lewis & Co. was obtained by Bloomberg on Thursday.*RIM announced in June that it would assemble a committee*of*independent*directors to study the CEO and board roles, and then make recommendations as to whether or not the company should consider splitting the CEO and Chairman roles Balsillie and Lazaridis each currently hold. In its report, Glass Lewis wrote that the move was merely a stall tactic used to get Northwest & Ethical Investments LP to withdraw a motion it intended to put forward at RIM’s July shareholder meeting.*“The appointment of independent board leadership does not require further study, but rather concrete action,” Glass Lewis analysts noted in their report.*“While we commend the board for actively engaging with NEI in an attempt to reach a mutually agreeable solution, we are underwhelmed with the board’s continued avoidance of a commitment to appoint an independent chairman.”
    Last edited by Gucci33; 07-07-11 at 06:09 PM.
    07-07-11 06:06 PM
  2. sleepngbear's Avatar
    This committee of independent directors was widely publicized last week when the news was released that NEI was withdrawing their proposal. Nothing new, and that it took this analyst a week to come up with this brilliant observation doesn't say much for the analyst ... or BGR. If it is just a stall tactic and NEI bought it anyway, well, sounds like NEI's leadership might not be all that bright either and were just making a lot of noise.

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    Last edited by 18to12fitty; 07-08-11 at 08:29 AM.
    07-08-11 08:27 AM