The Board
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PFKAKTF FOX
Well-Known Member
Duzza said:I understand he has cut the porn shoots right back as well
Apparently he started a solo pop career, his first 12" release was very popular !
Foxes_Trust
Well-Known Member
fuco said:
Will respond to more of the indepth stuff later, Jon Holmes stepped down as Chair as he couldn't perform his day job, running a company that are agents for top players & be a director of the club.
They are League rules & quiet correct ones at that, allowing that would leave open the potential of all manner of accusations - eg all signings coming from players represented by his company etc.
So Jon isn't on the board, but can be often heard in the Directors Lounge after games giving his views on the current standing of the club. Some Directors therefore could be influenced by this, however other shareholders have an equal opportunity to get theie views across & we certaintly seize that chance.
Martin George can also be found in there for some games, this is due to his previous role within the club, now he isn't actually a shareholder. Having listened to his assessment of current players at a recent game, wouldn't argue about most of the views expressed, however the shareholders would be the ones who would have to vote for his appointment on the board.
He wasn't directly involved in CL's appointment (ie not on the interview panel), don't know whether his views were sought, its quite possible, we were certainly consulted on several occasions
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Foxes_Trust
Well-Known Member
Blues comments are quite lengthy so it will take us several posts to cover the issues raised.
- But then who on the board has the relevant football credentials?
Don't see this as essential, many of the old board had been involved in running the club for a number of years, so in theory had those credentials & they blindly got carried away & took the club to the brink of non-existance. They sanctioned paying unneccesarily high wages to 'squad' players such as Benji & on long contracts.
Risdale has 'credentials' but we wouldn't want him running our club
- We have no obvious person with lots of experience in managing a football club (or other entertainment related business).
The new Commercial Director (who started this month) managed a sales force of over 500 at a media organisation
- I don’t think there is a Finance Director, Commercial Director, Football Director, Operations Director, Legal Director, Communications Director
If you are suggesting that these are all paid positions, the club can't afford this level of overhead. We will now have 2 paid directors, the vast majority of the Non Execs (all unpiad) have ran businesses, so add the skills detailed above.
- In fact all of the day to day power resides with TD
Agreed, but major decisions are sanctioned by the board
- Do not be confused by the setup of the audit committee and the participation of a member of the Foxes Trust...
The audit committee does the corporate governance health check and our representative is an expert in this area. It ensures financial decisions taken are sound, but it doesn't have influence in the direction of the club other than to make sure the correct business processes are in place
We do have an Observer at LCFC board meetings & he is encouraged to speak about the topics being discussed, he has no vote however, if/when a vote is needed on an issue. That's why we want a full Non Exec role.
- I know how the board worked and conducted itself - unless things have changed dramatically we have something to worry about here..
Well our Observer attends the board meetings & has not raised concerns. Some board members actively contribute more than others, but we will not reveal any details, as it is part of the confidentiality of being there.
Duzza - to answer you
- Whats the Foxes Trust's opinion on the make-up of the current board?
We can't comment on individuals ability, as we want to get elected by fellow shareholders on to the board & we won't achieve that if we start posting observations of individuals on here, as our attitude on confidentiality would be seriously questioned. The Trust board has its own assessment of each individual.
- Seems to me that TD carries too much of the burdon with the others merely there to have their names on the letter heads????
There is no doubt TD has a heavy workload & we have expressed this view inside & outside the board room. The appointment of the new Commercial Director will considerably help this & while its additional cost, to bring new commercial revenue will make the position self financing.
Back to Blue's points
- I'd go one step further and suggest that a condition of the money those others "invested" was done strictly on the understanding that they "bought" themselves a seat on the board and somewhere where they felt important and have doors opened for them
Well Martin George was also on the initial board of the new company, but left it a few months later with his shareholding sold. There was talk of him becoming chairman again at that time, but based on our members views we strongly advised the club against it.
All Directors have to stand for re-election by rotation, so the shareholders have the power to remove anybody. Having said that, very few other shareholders put themselves forward for election to the board. We will be doing so later in the year.
- But then who on the board has the relevant football credentials?
Don't see this as essential, many of the old board had been involved in running the club for a number of years, so in theory had those credentials & they blindly got carried away & took the club to the brink of non-existance. They sanctioned paying unneccesarily high wages to 'squad' players such as Benji & on long contracts.
Risdale has 'credentials' but we wouldn't want him running our club
- We have no obvious person with lots of experience in managing a football club (or other entertainment related business).
The new Commercial Director (who started this month) managed a sales force of over 500 at a media organisation
- I don’t think there is a Finance Director, Commercial Director, Football Director, Operations Director, Legal Director, Communications Director
If you are suggesting that these are all paid positions, the club can't afford this level of overhead. We will now have 2 paid directors, the vast majority of the Non Execs (all unpiad) have ran businesses, so add the skills detailed above.
- In fact all of the day to day power resides with TD
Agreed, but major decisions are sanctioned by the board
- Do not be confused by the setup of the audit committee and the participation of a member of the Foxes Trust...
The audit committee does the corporate governance health check and our representative is an expert in this area. It ensures financial decisions taken are sound, but it doesn't have influence in the direction of the club other than to make sure the correct business processes are in place
We do have an Observer at LCFC board meetings & he is encouraged to speak about the topics being discussed, he has no vote however, if/when a vote is needed on an issue. That's why we want a full Non Exec role.
- I know how the board worked and conducted itself - unless things have changed dramatically we have something to worry about here..
Well our Observer attends the board meetings & has not raised concerns. Some board members actively contribute more than others, but we will not reveal any details, as it is part of the confidentiality of being there.
Duzza - to answer you
- Whats the Foxes Trust's opinion on the make-up of the current board?
We can't comment on individuals ability, as we want to get elected by fellow shareholders on to the board & we won't achieve that if we start posting observations of individuals on here, as our attitude on confidentiality would be seriously questioned. The Trust board has its own assessment of each individual.
- Seems to me that TD carries too much of the burdon with the others merely there to have their names on the letter heads????
There is no doubt TD has a heavy workload & we have expressed this view inside & outside the board room. The appointment of the new Commercial Director will considerably help this & while its additional cost, to bring new commercial revenue will make the position self financing.
Back to Blue's points
- I'd go one step further and suggest that a condition of the money those others "invested" was done strictly on the understanding that they "bought" themselves a seat on the board and somewhere where they felt important and have doors opened for them
Well Martin George was also on the initial board of the new company, but left it a few months later with his shareholding sold. There was talk of him becoming chairman again at that time, but based on our members views we strongly advised the club against it.
All Directors have to stand for re-election by rotation, so the shareholders have the power to remove anybody. Having said that, very few other shareholders put themselves forward for election to the board. We will be doing so later in the year.
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