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More dysfunction at Sirius XM Radio (SIRI +0.1%): The company reports in a SEC filing that Leon...

More dysfunction at Sirius XM Radio (SIRI +0.1%): The company reports in a SEC filing that Leon Black won back his seat on Sirius' board - despite seeing more shareholders vote against re-election than voted in favor. The CEO of Apollo Global Management benefited from the fact that no alternative candidates were on the ballot.
Comments (5)
  • nsnyder
    , contributor
    Comment (1) | Send Message
     
    Pathetic, but if it is in the bylaws that 9 people should be on the board then someone should have run against him.
    25 May 2012, 06:12 PM Reply Like
  • vinci666
    , contributor
    Comments (52) | Send Message
     
    this is really ridiculous. The fact that they didn't even have someone to replace him already ready to go shows how inept the company is. hell they could of asked me at least i would of showed up
    26 May 2012, 09:09 AM Reply Like
  • Smokeyscot
    , contributor
    Comments (257) | Send Message
     
    Agree ridiculous. Mr. Black should have showed up at the meeting. He has a history of not showing up.
    27 May 2012, 01:27 PM Reply Like
  • Roxieanne
    , contributor
    Comments (477) | Send Message
     
    I can't speak for Mr. Black who has been a member of the board; however, it does appear that his experience has been of benefit to the board over the years. He was elected by plurality vote which is consistent with the bylaws.

     

    If the institutions that hold shares had wanted to replace him it appears to me that they could have done so; by their silence they did not--- hence, they approved of his re-election.
    29 May 2012, 05:37 PM Reply Like
  • Smokeyscot
    , contributor
    Comments (257) | Send Message
     
    The shareholders have been denied his experience, advise, and counsel. By Mr. Blacks truancy. The institutional stockholders 'silence' for or against his board membership does not make his inaction to the shareholders less important. If he is unable to fulfill his obligation then he should resign. It appears to me the institutions have failed there fellow stockholders. They should request a special stockholders meeting submit a board member that will perform in the best interests of all stockholders. Almost a billion shareholders voted against Mr. Black
    29 May 2012, 07:25 PM Reply Like
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