TXIC I am not too close to the TXIC story. But If I were a TXIC shareholder i would have preferred a new board and new CEO and CFO. Just shake things up. It is bad that niether the board nor the management made sure that good financial controls were in place.
In the end the CEO needs to take a big part of the blame instead of blaming others.
As far as the board goes, I have been told that they are just puppets controlled by a corrupt ring master. If the company takes action to force the return of siphoned funds and implements internal controls I will have restored faith in the board. Maybe all this publicity will force some hands.
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