GrillBillie_D
Full Fledged Farker
- Joined
- Mar 8, 2012
- Location
- Redding, CA
I have seen several comments about the KCBS board voting to reduce the number of board members from 12 to 9 during their last meeting. Unfortunately, there was not a good explanation of what and why from the board. I listened to the BOD hearing to try to understand what they are doing. First, they said that most boards of even large corporations average about 9 members or less. That is what they say is part of their reasoning. Also, with the CEO taking on more responsibility, then there is less for the board to do. The reduction to 9 board members will take place over time. Here is the overview that they planned:
2021 Election - 4 Board terms expire, 4 Board slots elected (Board remains 12)
2022 Election - 4 Board terms expire, 3 Board slots elected (Board down to 11)
2023 Election - 4 Board terms expire, 3 Board slots elected (Board down to 10)
2024 Election - 4 Board terms expire, 3 Board slots elected (Board down to 9)
Future elections have 3 terms expire and 3 elected
I wished they would have come out and spelled it out clearly for people to understand. After I listened to the meeting audio, I was clear what their intentions were but not very many people will dig that deep.
2021 Election - 4 Board terms expire, 4 Board slots elected (Board remains 12)
2022 Election - 4 Board terms expire, 3 Board slots elected (Board down to 11)
2023 Election - 4 Board terms expire, 3 Board slots elected (Board down to 10)
2024 Election - 4 Board terms expire, 3 Board slots elected (Board down to 9)
Future elections have 3 terms expire and 3 elected
I wished they would have come out and spelled it out clearly for people to understand. After I listened to the meeting audio, I was clear what their intentions were but not very many people will dig that deep.