Various Anons.
Appreciate you are backing your board but as you will have seen from my post above I think there are compelling reasons why this position should have been open to the market.
Those who say it is the right of the Board to hire and fire are 100% correct.
However, in times of trouble/crisis, the need for open process is exemplified - closed door stuff looks even worse. In the earlier thread on Knox someone posted a very long, very transparent email from the President explaining problems and justifying fee increases. That was an open process.
The questions, legitimately to be asked, about the current appointment, I have posed earlier. Please note I am not questioning the appointment - I have no view on that and people bagging the individual here are scurrilous. Play the ball, not the man....
However, if the criticisms about "jobs for the boys" were relevant of the previous board then the current board need to set themselves well above this type of criticism. The fact is that the new CEO is the partner of a former CEO, who allegedly has been advising the new board, and who is also a board member of the BigV, where the new CEO has come from. That set of circumstances just opens the process to speculation, which would have been largely avoided had it been open. The Board it appears has managed this all in-house. To avoid this scrutiny they could have, for example, used other, independent parties, to help with the selection process.
The question that must be asked is this. Has the process of recruiting the CEO given Knox the best possible chance of recruiting an individual who can lead the organisation out of its current crisis and into the future?
We do not know the facts. Perhaps there is a far more limited budget for the new CEO and this person fits that budget. Perhaps the new CEO's has hard nosed financial skills and can sharpen the business approach to such a degree that Knox can trade well going forward.
I wish the new CEO well. It appears they have a fight on their hands, both with the management of the politics of the organisation, and the ongoing financial issues of Knox.