When will the corporate wayang ends?
Minority shareholders are taking to task to sack 3 independent directors from a public listed company for 'not doing their jobs.' They claimed that the two top executives of the company were getting unduly high pays while the company is losing money. It implies that the directors should have curbed the excessive payouts to the top executives. Now they are calling for an EGM to remove the independent directors. It is time that the wayang of having independent directors that are seen as not protecting the interest of minority shareholders be stopped. And honest and respectable individuals who cannot do the job for whatever reasons must honourably step down from such appointments or not to accept them. The practice of collecting fees and not doing the due diligence is becoming cancerous.