The boardu2019s statement comes in the wake of a recent report by proxy advisory firm Institutional Investor Services (IIS), which had raised concerns about the companyu2019s corporate governance and recommended that shareholders vote against the reappointment of certain directors.
The board, in its statement, said that it u201cstrongly disagreesu201d with the IIS reportu2019s findings and that it u201chas full confidence in the management teamu2019s ability to execute its strategy and deliver value to shareholders.u201dSource:- the times of IndiaThe board also said that it has taken a number of steps to strengthen the companyu2019s corporate governance, including the appointment of an independent chairman and the creation of a new governance committee.
Source:-religareThe boardu2019s statement is likely to provide some comfort to Religare shareholders, who have been concerned about the companyu2019s future in recent months. The company has been struggling with a number of issues, including rising debt and a decline in its share price.
The boardu2019s expression of confidence in the management team is a positive sign, but it remains to be seen whether the company can overcome its current challenges.
In addition to the above, here are some other key points from the Religare boardu2019s statement:
The board has u201cfull confidenceu201d in the management teamu2019s ability to execute its strategy and deliver value to shareholders.The board has taken a number of steps to strengthen the companyu2019s corporate governance.The board disagrees with the IIS reportu2019s findings and believes that the company has a strong corporate governance framework.
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