Re:Milestone.. Information of IR re: the determination of the BoD-member number

Mosaic ImmunoEngineering is a nanotechnology-based immunotherapy company developing therapeutics and vaccines to positively impact the lives of patients and their families.

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emtnester

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Re:Milestone.. Information of IR re: the determination of the BoD-member number

in response to

Re: Information of IR re: the determination of the BoD-member number

milestone

posted on Dec 14, 2009 01:44PM

"I stand by my statement. As the BoD has been set at 5 members, it is IMPOSSIBLE for any incoming CEO, or other new senior member of management, to gain a seat on the BoD."

I respectfully disagree....the By-Laws allow for 3-7 ( I believe)members of the BOD...the BOD then has authority to select the number of sitting memebers... between 3 and 7...usually an odd number but doesnt have to be...if they wanted to they could change their minds and expand the number to 6 or even 7 tomorrow and select one or two more members as they choose to...we in trun would get the opportunity to "vote" them in for a full term at the next proxy...I, for one, have never liked the CEO to be on the BOD at the same time...there needs to be the chain of command between the CEO and his bossses the BOD and not be one "of them" also.