08-02-2013, 08:02 PM
(08-02-2013, 06:02 PM)KopiKat Wrote: Above is extracted from Post #173 of this thread. Part 1 already done some time back. Today, Part 2, they resigned.... Extracts,
RESIGNATION OF INDEPENDENT DIRECTORS / CHANGES IN THE COMPOSITIONS OF BOARD AND BOARD COMMITTEES
The Board of Directors of Nera Telecommunications Ltd (the “Company”) wishes to announce that Mr S Chandra Das, Mr Lau Ping Sum and Mr Sitoh Yih Pin have resigned as Directors of the Company with effect from 8 February 2013.
I am fine with the latest result but this news is really annoying. Now they have forced out all the directors on board except the CEO. Probably some internal conflict going on.
Does it form any serious red flag? Or it is norm for new investor to rid of the directors? All 3 resigned are independent non executive directors, will this seriously shake the business?