ST Alpha - "I’d want to know why not, and why the board didn’t have a compensation committee to handle it." (Reading a Post)

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In response to "STIS, a payment scandal has occurred that a CEO was receiving more money than was publicly acknowledged. How would you interpret this board statement?" by Loyola

I’d want to know why not, and why the board didn’t have a compensation committee to handle it.

Posted by znufrii 🦄 (aka znufrii) Jun 27 '23, 14:03

It’s a catastrophic failure of governance and the chairman is probably complicit.

Responses:

They had a cc. Remuneration committee here. It’s claimed none of them were aware of it either. - Loyola Jun 27, 14:11 5
- Yeah, in that case if they aren’t getting all the information there’s a reason. -- nm* - znufrii 🦄 Jun 27, 14:24
- who is approving the payments?? -- nm - Andie Jun 27, 14:21 3
  - Apparently the chairman unilaterally approved extra payments, beyond the published salary, and without the knowledge of the remuneration committee. - Loyola Jun 27, 14:26 2
    - Oh, that's all sorts of not kosher. -- nm - TWuG Jun 27, 14:30 1
      - Furthermore, the CEO, whilst having paid tax on these extra payments, and there is no suggestion that these extra payments were in any way illegal…he - Loyola Jun 27, 14:44

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