Are you applying for a job or do you have potential candidates in mind. I am sure you can find a lot of available executives that can do much better than 12 profitable quarters in a row in a sector that is in trouble and where companies are struggling to lower their cash cost. Many of them are looking for jobs right now after they took their companies into the ditch. They could give us a different result than the one delivered by the present management. I fully agree they could turn around Petaquilla from making money to .........
When you talk about changing the management could you be more specific about the exact individuals and where their actual performance failed. Please do a performance appraisal as a Board member would do when they review the company officers and share it with us.
It would help if you can use the org chart in the intro box as well as the list of officers in a table with their performance. I am most interested on how in your expert opinion they performed in delivering low cash cost as compared to industry benchmark.
Also I am sure you have reviewed the separation clause in their contracts (public) and estimated the amount of funds for the separation packages. Also do not forget to include the relocation cost and stock option for the new management team before a personnel search gets started.
With all due respect I understand frustration but get over it. Proposed solutions should be based on some semblance of professional assessment. You maybe a bit out of your element here.
I try to share my knowledge for the benefit of other shareholders. I do a lot of research and I may be wrong sometime but at least I do not come up with something out of fin air. I met every senior officers in the company. I do not always agree with them and that's just fine but I am confident that they are competent and will deliver growth and profit for this company. That's all I can ask.
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