Anselmi buckles down to focus on TFC issues ...

[ensco]

... for maybe 5 seconds, before going on an outside board

http://www.stockhouse.com/news/canadianreleasesdetail.aspx?n=8643983

Interesting. This is the sort of thing that guys who are actively pursuing a Plan B escape hatch do.

[Pookie]

Well, the CEO search is ongoing which would effectively result in a new boss for him.

[ensco]

It's not typical for guys who get "promotions" to President of a $2 billion company to either ask the Board to do this, or for the Board to allow it.

This means something.

[billyfly]

But aren't big boys like Tommy always part of other boards?

[ensco]

But aren't big boys like Tommy always part of other boards?

Director jobs are big jobs. They pay real money (usually $50K and up) and they are not just hobbies any more. They involve real work.

What's typical is for CEOs with some years of experience to seek these positions out (and be sought out). It's part of the natural evolution/transition. Also lots of ex CEOs and Chairmen are on boards.

It's more unusual for Presidents or EVPs or COOs (unless they are women, which is a whole different category). You do see it, but it's much less common. Exception is tech - lots of younger, more junior people on tech boards.

But it's pretty weird and unusual, imho, for a newly-appointed President, with a CEO vacancy above him, to do this. His signal to his Board and to the world should be that he's buckling down, giving 100% to get that CEO job. Instead he's saying he has time for a part-time job.

EDIT: Anselmi is getting $50K a year plus 300,000 options "at the money" (at 35 cents, with stock at 36.5 cents) for this gig. If this company turns into something, Anselmi will make hundreds of thousands from this. Like I said, this is no hobby.

I don't agree with the Board on allowing this. The head of TFC, who is already spending most of his time on other more important things (eg TV deals for the Leafs and Raptors), will now have even less time and attention for TFC.

[Pookie]

^ agreed 100%

[Beach_Red]

It's not typical for guys who get "promotions" to President of a $2 billion company to either ask the Board to do this, or for the Board to allow it.

This means something.

Well, they're probably a little busy at Bell, what with the $3 billion Astral take-over held up by some bureaucrat, sheesh....

[ensco]

^How interesting is that? Quelle surprise, the Feds discover consumer protection when Quebec is affected, but there wasn't even a peep about the Bogers MLSE purchase. I guess if giants want to build moats around their monopolies in Toronto, it's all good.

[tiberius]

This is a bit curious, but we are talking a small cap mining stock - his obligation could be 3-4 meetings a year (In Toronto), plus a read over of a draft of their annual report... This may not be much of a feather in Anselmi's cap - more likely he has a friend on the board and/or his name might give a little more credibility to a venture capital mining firm, or possibly this is a hobby on Anselmi's part.

Mining companies aside, I have a feeling that you are right ensco - Tom Anselmi will not be focused much on TFC - there is more fun (and profit) to be had elsewhere in the MLSE organization - he will maintain a profile by paying lip service to fans but delegate the TFC problems, pain and responsibilities away to others...

[jloome]

... for maybe 5 seconds, before going on an outside board

http://www.stockhouse.com/news/canadianreleasesdetail.aspx?n=8643983

Interesting. This is the sort of thing that guys who are actively pursuing a Plan B escape hatch do.

He probably just thinks it's a potential easy buck. They're a junior firm doing exploratory work, so they're probably getting him for the name and connections more than any perceived contribution. Makes sense for Anselmi if there are no responsibilities and he gets stock options on something that might -- but probably wont' -- pay out.

[ensco]

He probably just thinks it's a potential easy buck. They're a junior firm doing exploratory work, so they're probably getting him for the name and connections more than any perceived contribution. Makes sense for Anselmi if there are no responsibilities and he gets stock options on something that might -- but probably wont' -- pay out.

I get it from Anselmi's POV. It's the Board allowing him to do it that I'm noticing (and possible bothered by).

MLSE are already down a man, and TFC is on fire - unless the Board know something they haven't disclosed (ie that there is a CEO identified), this is a bad decision (to allow it) and is not in our interest.

Whatever it is - no more free passes. In general, I intend to be tougher about holding this Board accountable.

[Blizzard]

... for maybe 5 seconds, before going on an outside board

http://www.stockhouse.com/news/canadianreleasesdetail.aspx?n=8643983

Interesting. This is the sort of thing that guys who are actively pursuing a Plan B escape hatch do.

I don't think so. This is pretty common. Take a look at the people on the board of MLSE. http://www.mlse.com/inside_mlse/board_of_directors.aspx


db

[ensco]

I don't think so. This is pretty common. Take a look at the people on the board of MLSE. http://www.mlse.com/inside_mlse/board_of_directors.aspx


db

I don't understand. The MLSE Board has no independents. Each shareholder has two appointees.

What possible message does the composition of the MLSE Board have that is relevant to this?

[jloome]

I get it from Anselmi's POV. It's the Board allowing him to do it that I'm noticing (and possible bothered by).

MLSE are already down a man, and TFC is on fire - unless the Board know something they haven't disclosed (ie that there is a CEO identified), this is a bad decision (to allow it) and is not in our interest.

Whatever it is - no more free passes. In general, I intend to be tougher about holding this Board accountable.

That's an optimistic view; you're assuming the board members are any more diligent than Tom is. Like you pointed out, this is a safe returns company and always has been, with no view towards exceptionalism. That it was nonetheless attractive to this board suggests they're of the same "get-along-to-get-along" ilk. I mean, really: how could anyone look at anything other than the bottom line and then make Anselmi their CEO? Objectively, it's insane, with even a little examination.

So I don't expect them to call him on anything until one of their properties is near the precipice of failure.

[Beach_Red]

That's an optimistic view; you're assuming the board members are any more diligent than Tom is. Like you pointed out, this is a safe returns company and always has been, with no view towards exceptionalism. That it was nonetheless attractive to this board suggests they're of the same "get-along-to-get-along" ilk. I mean, really: how could anyone look at anything other than the bottom line and then make Anselmi their CEO? Objectively, it's insane, with even a little examination.

So I don't expect them to call him on anything until one of their properties is near the precipice of failure.

Here's what scares me - Bell dominate the board (maybe not in number of members, but they're the big dog) and their strategy has more to do with maintaining monopolies than winning over customers. The closest example to running a sports team would be the way they run their TV networks. And they don't develop anything, they don't have their own "scouting or academies," so to speak. When you go into the CTV offices to pitch a show the walls are lined with posters for the US shows they buy - Castle, CSI, Grimm, whatever's hot now - and there's barely a mention of The Listener or Flashpoint. When you talk to them about what they want they say, "Look at our other shows," and they mean the US shows they buy, that they had zero to do with creating.

I hope they have a different attitude for running a sports team.

[Blizzard]

I don't understand. The MLSE Board has no independents. Each shareholder has two appointees.

What possible message does the composition of the MLSE Board have that is relevant to this?

I'm not referring to the composition of the board. My point is that it is a part-time job. All those people have their full-time responsibilites with their home companies. It was in reference to those implying that Anselmi might be on the way out because MLSE let him take a spot on somebody else board. The point is, this is common, people do it all the time. Often, companies will appoint somebody to their board just to have a big name on their board even if he/she does absolutely nothing.

[ensco]

^Ah OK. I disagree, but understand what you are saying.

In my experience, it's actually not common to allow this for someone in Anselmi's situation.

[Batman]

on the positive side.. it give him a little less time to continue fucking up tfc