Why are so many board members leaving Shire right now?

Quote

anonymous

Guest
From water cooler chatter I heard that there are a bunch of board members quitting Shire right now. I had not heard or seen that in any of the HQ comms and so I checked and they were right!

In Shire's press release from yesterday is the following:
"On August 3, 2017, Shire announced that David Ginsburg, Chairman of the Science & Technology Committee, would retire following the 2018 Annual General Meeting (AGM). Subsequently, the Board resolved that David would continue for the near term as a Non-Executive Director and Chairman of the Science and Technology Committee. Today, the Board announces that Dominic Blakemore, having been appointed Group Chief Executive Officer of Compass Group PLC on January 1, 2018, decided to step down as a Non-Executive Director of Shire immediately following the 2018 AGM. The Board has begun a search for two new Non-Executive Director appointees who can provide the knowledge, insight, and experience that both David and Dominic currently bring to Shire. The Board also announces today that, following the departure of William Burns from the Board of Directors after the 2018 AGM, Olivier Bohuon will be appointed Senior Independent Director of the Board."

In the last half year, our CFO (a board member) and 3 other board members have resigned their posts in the last few months. That is ONE THIRD of Shire's board quitting!!!

If you look, these have been the most experienced and arguably the best board members.

Is that a warning sign or what is going on?
 






anonymous said:
From water cooler chatter I heard that there are a bunch of board members quitting Shire right now. I had not heard or seen that in any of the HQ comms and so I checked and they were right!

In Shire's press release from yesterday is the following:
"On August 3, 2017, Shire announced that David Ginsburg, Chairman of the Science & Technology Committee, would retire following the 2018 Annual General Meeting (AGM). Subsequently, the Board resolved that David would continue for the near term as a Non-Executive Director and Chairman of the Science and Technology Committee. Today, the Board announces that Dominic Blakemore, having been appointed Group Chief Executive Officer of Compass Group PLC on January 1, 2018, decided to step down as a Non-Executive Director of Shire immediately following the 2018 AGM. The Board has begun a search for two new Non-Executive Director appointees who can provide the knowledge, insight, and experience that both David and Dominic currently bring to Shire. The Board also announces today that, following the departure of William Burns from the Board of Directors after the 2018 AGM, Olivier Bohuon will be appointed Senior Independent Director of the Board."

In the last half year, our CFO (a board member) and 3 other board members have resigned their posts in the last few months. That is ONE THIRD of Shire's board quitting!!!

If you look, these have been the most experienced and arguably the best board members.

Is that a warning sign or what is going on?
Click to expand...


Hopefully Dan Loeb stills owns the stock and is putting a foot in their asses.
 






No he sold out of everything in Q3. He's with Third Point
UBS AG 1,060,476 Sold 1,491,199
THIRD POINT LLC 0 Sold All 1,200,000
VIKING GLOBAL INVESTORS LP 0 Sold All 520,685
 






Board members usually don’t “resign”, usually stock holder proxies are tallied and counted. If thy leave on their own accord, it could be a multitude of reasons from lack of performance, pressures from internal stake holders or they see/know something and are getting out of dodge.
 






























Board members are leaving because of the poor performance of the company. It all goes back to the Baxalta deal. It was a deal nobody wanted but one person. The Board didn’t have the balls to stand up and say no and now they must suffer the consequences.
 






Simple explanation is that the sales force is ranked in the bottom tier of pharma. Hard to grow when your sales force works 1/2 days. Sorry for the plain truth but it will set you free!
 






Let’s pretend the sales force is underperforming (which it isn’t ). It is the job of the CEO and his team to fix it. So either way Flemming has failed. That’s the problem with mindless trolls and Shire buttmonkeys - they can’t even make a decent counterclaim. But at least it shows the intellectual quality of the defenders of Flemming - ie no quality all, like their leader.
 






















































the company has lost all growth prospects

the board is quitting

and all home office can do is bad mouth sales?

looks like home office is part of the problem

way to pump us up for NSM...so excited to see your smug and chubby faces
 






Top Bottom
Back
Quote