Wednesday, June 29, 2011

ramblings.

I didn't know him personally, but I got teary eyed when I heard he passed away suddenly. The chairman of my company passed from cancer on Monday. He was very accomplished and well known--bringing up an entire industry in China.

In a sort of drama-like way--our company seems to be experiencing something I feel like I've seen in a movie. Two days after the death of our chairman, during our Annual General Shareholder Meeting, --a surprise decision to remove our CEO from the board was made--mainly because one major shareholder holds enough votes to make this decision-- which looks like a move by this shareholder to take over power. This large shareholder, lists our company as its subsidiary, even though we are not. Furthermore, the decision to have the ability to issue new shares was also blocked--again looks to be a way for this shareholder to maintain its power and not have its share diluted.
Who knows what will happen next...