And that my friend, may be considered entrenchment, again, a favourable tool for the executive, eliminating shareholder opinion. A good strong company could practise at voting the directors IN, instead of them being appointed. That way, investors have time to do their DD and decide if the director is appropriate for their investment or not. The relative costs in doing a vote, or even a poll for that matter, would be little when a strength of the shareholder base is considered. Too many times, as in the Venture, friends are placed as directors by the Exec and rarely have an interest other than collecting options and the benefit of having their name visible to the public and to fill a slate. This may sound harsh, but it is a reality.

IMO

PS; I hope all enjoy their weekend!