Avid Bioservices Inc (CDMO)

[bfiest]

The current by-laws, as written, reduce the need for this management group to compete in good faith and allow this group total autonomy without accountability. That is not the kind of structure that shareholders should accept. Have they done some seemingly good things with Avid. Sure, seemingly. But that is not the point. The point is why are they hiding behind such structure and even if their intent is only positive, such structure results in complacency and a somewhat lazy attitude toward their fiduciary responsibility to their shareholders. During SK's reign as CEO there has been an direct and blatant inverse relationship between stock performance and his salary increases. The stock trend is down significantly while his salary continues to increase not to say anything about the cheap options he has accumulated. That is not shareholder friendly structure. He should suffer the consequences of his lack of results just as he should benefit when he delivers. Many of us believe in the potential of this science. We should demand positive, competitive, accountable structure to ensure these guys take their fiduciary responsibility seriously. I don't care if they (best case scenario) are good guys with good intent. It takes away the edge in a very competitive situation. It is in every shareholders best interest to bring accountability back to this process. We need to demand change and do so with a united front. Shareholders, cancer patients every where, everyone affected by this technology, even they themselves assuming they are ethical will benefit from such structural change.