Tesco misprice discussion area part 16

spa2k

VeryTrying wrote:

Not directly, no. But any director hoping to be re-elected when his term is finished would do well to listen to what the voting shareholders want.

The shareholders are the owners of the company, the directors merely their temporary representatives.

I always thought that members of any main board were appointed rather than elected....personally i have never been asked to vote for a new director. Not being an expert in business i may be wrong though.

In the twelve months prior to the 2005 AGM, two new independent Non-executive Directors were appointed to the Board. Prior to these appointments the Board agreed clear criteria against which to assess each of the candidates. External recruitment consultants were employed to advise and oversee the process. Both appointees underwent a rigorous nomination process before the Board agreed on their appointments.

source - http://www.tescocorporate.com/page.aspx?pointerid=4ED2AEFA66264290BBDB510DC60371A8

ginjim

spa2k wrote:

Got to take query with that statement.

Shareholders do not dictate company policy, nor do they dictate what a company can or cannot do.

The board of directors is in place for exactly that reason. They are ultimately responsible to the shareholders however if the main board decide that xxx is to be the new policy the shareholders do not have a say......

I am a shareholder, as is constantine and TescoEmployee and we werent consulted!!!

Here http://www.tescocorporate.com/images/u50150_d.pdf is the notice of the last AGM, nowhere on it does it mention anything regarding the refund policy.

thanks think i'll save reading that for a rainy day

ginjim

spa2k wrote:

I always thought that members of any main board were appointed rather than elected....personally i have never been asked to vote for a new director. Not being an expert in business i may be wrong though.

Rodney was elected or was it Dave

spa2k

ginjim wrote:

thanks think i'll save reading that for a rainy day

personally I wouldnt bother, its not very interesting!!

dog1

spa2k wrote:

I am a shareholder, as is constantine and TescoEmployee and we werent consulted!!!


I posted the information that I gleaned, as per my details.

You seem to be able to speak on behalf of constantine and TE very quickly.

Please remember that this is a CONSUMER REVENGE website!

dog1.;)

ginjim

dog1 wrote:

spa2k wrote:

I am a shareholder, as is constantine and TescoEmployee and we werent consulted!!!


I posted the information that I gleaned, as per my details.

You seem to be able to speak on behalf of constantine and TE very quickly.

Please remember that this is a CONSUMER REVENGE website!

dog1.;)

yes but they have as much say probably as the other millions of tescos employees

spa2k

dog1 wrote:

You seem to be able to speak on behalf of constantine and TE very quickly.
dog1.;)

Feel free to ask them directly....not sure that they will contradict my information though.

If you have a read back through the thread you will find that myself, Tescoemployee and constantine try to give an alternative view and offer help to those that may have issues with the r&r policy. Consumer revenge or not, an alternative viewpoint can sometimes prove useful.

ginjim

alternative viewpoint can sometimes prove useful

depends whose viewpoint:rolleyes: :rolleyes:

spa2k

ginjim wrote:

depends whose viewpoint:rolleyes: :rolleyes:

indeed, hence the word sometimes...:p

VeryTrying_2

spa2k wrote:

I always thought that members of any main board were appointed rather than elected....personally i have never been asked to vote for a new director. Not being an expert in business i may be wrong though.

Have a look at http://www.tescocorporate.com/page.aspx?pointerid=4ED2AEFA66264290BBDB510DC60371A8 (the page you quoted) especially the last paragraph of the nomination section where it says:

"All new Directors are submitted for election by shareholders in their first year. All Directors have to submit themselves for re-election at least every three years if they wish to continue serving and are considered by the Board to be eligible."

So even Tesco directors have to look over their shoulders .....