Shareholder move to oust SBI Offshore CEO stalls
EGM adjourned pending greater clarity on investigations into possible breach of securities laws and other offences
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Anita Gabriel
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Singapore
FRIDAY's meeting for SBI Offshore shareholders to vote on a board shake-up that was triggered by a major shareholder's "mutiny" against the chief executive officer came through like an edgy day-time chat show and after two highly-charged hours, ended up being adjourned.
The hashtag #nofilter came to mind as all nine directors, led by chairman Mirzan Mahathir, huddled at one side of a table at the far end of a small, packed room, facing no less than 70 shareholders including many proxy shareholders and former employees and for the most part of the entire two hours, endured a litany of hard-hitting questions and incensed remarks.
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