Chapter 437 Board of Directors Meeting

"My dear brother, what are you doing today? Holding a board meeting? When my father just passed away?"

The Sinclair Group is headquartered in Baltimore, Maryland, where the family originally established the company by acquiring television stations.

In the conference room of the headquarters, David Smith, the current CEO and acting chairman of Sinclair Group, looked at the board members who were walking in one after another. He looked at his youngest brother, John Smith, and asked coldly road.

"Sorry, my brother, I requested to convene such a board of directors today because it is really necessary to raise some questions..."

Although John Smith was habitually a little... afraid when faced with his elder brother's angry words, but at this time, he still endured this uncomfortable feeling, looked directly at the other person's eyes, and said:

"As for the specific proposals, I will tell them when everyone is here."

"Haha, very good, my brother, you are really promising..."

David Smith looked around at everyone in the conference room, and finally his eyes fell on his two younger brothers - Duncan Smith, the second eldest brother, and Robert Smith, the third eldest brother, another member of the family's "three ex-wives' brothers". After seeing what he wanted to see in the other person's eyes, David Smith felt at ease.

After a while, 10 people were already sitting in the conference room, including 6 members of the Sinclair family and three board representatives from Vanguard Group, Bank of New York Mellon and Fidelity Investments...

The other is Ms. Debbie Hogan, the chief legal officer of Sinclair Group. Although she is not a member of the board of directors, as an important management member of the group, she can participate in the board of directors as a witness, but she has no voting rights.

"When can we start?"

David Smith looked at John Smith disdainfully:

"Let me see what you can do, my crybaby brother..."

When John Smith heard this, he gritted his teeth and looked at Debbie Hogan...

Ms. Hogan coughed softly, looked at the dial on her hand, and said:

"We have contacted all board members in advance. Among them, Mr. Amber Sheehan, the representative of DS Capital, said that he would participate in this board meeting via remote phone call. Another board member..."

When Debbie Hogan said this, the corners of John Smith's mouth turned up slightly. Although he did not convince HG Vora Capital Management Company to support this proposal, he had received confirmation that the other party would not send anyone to participate this time. Board members of…

Obviously, the other party has not sent anyone to the meeting so far. In this case, he can be said to be sure of victory!

At this moment, the door of the conference room was pushed open, and a blonde beauty in a white suit walked in...

"Sorry, I hope I'm not late."

Under everyone's surprised gazes, she nodded slightly and sat on the remaining empty seat.

Debbie Hogan continued to introduce to everyone:

“The other board member was sent by HG Vora Capital Management, but they had transferred 10% of their Sinclair Group shares to IC Capital before yesterday, so now Ms. Ivanta will replace them, To become a member of the board of directors, these are the formal procedures that have been completed.”

"Hello everyone, I am very happy to be a member of the board of directors of Sinclair Group. I hope to work with you to contribute to this prestigious media group in the future."

Ivanta stood up gracefully, and said so with a smile on her beautiful face that is well known to the American people.

And when she said these words, some board members couldn't help but look at each other, and many of them had surprise and surprise in their eyes.

"Why wasn't this announced earlier?"

John Smith couldn't help but wonder.

"We have sent relevant information to your mailbox. This is documented. If you haven't seen it..."

Debbie Hogan shrugged, did not continue, and instead said:

"Everyone is now here, and Mr. Amber Sheehan, the representative of DS Capital, has also come in via remote phone...

She pushed up her glasses, turned to look at John, and asked:

"Mr. John Smith, could you tell me that you have summoned everyone here and have any proposals to announce?"

Thinking of the number of votes in his hand, even if this uncertain IC Capital suddenly appeared, there was nothing to be afraid of. John Smith immediately regained his mood and said:

"I propose to remove David Smith from all positions, including acting chairman and CEO, and re-elect chairman..."

After John's words fell, everyone in this conference room had different expressions, some were expecting, some were calm, some were surprised, some were angry...

"Pa bang bang..."

David Smith actually started to applaud, but the look he looked at his brother John was almost cold:

"Well done, you traitor to the family, let me see what else you can do..."

"Please don't interrupt me, I haven't finished speaking yet..."

At this time, John Smith could be said to have started work and had no chance of turning back. He could only choose to continue fighting.

"The reason is because of you, David, with your unstrategic radical approach and constant borrowing for acquisitions. Although the scale of Sinclair Group seems to have expanded, the accumulation of debt is also driving this company into the abyss. , and it is obvious that times are different now, and TV is increasingly becoming a furnishing in young people's homes... I am not saying that we need to give up this business, but I am saying that we should start investing in the Internet while maintaining our business, Instead of continuing with your huge and dangerous acquisition..."

Finally, facing David Smith's gaze that almost seemed to kill him, he said calmly:

"My proposal is entirely for the future of Sinclair Group. Although the company has expanded in scale in the past two years, its profitability has not increased accordingly, and it has also incurred huge debts. For shareholders, David's management is The method is no longer suitable..."

"You bastard! I have done so many things for the company and the family, and you? But you stabbed me in the back. Besides doing such dirty things, what else can you do? I just want to see how you can leave my company. How long can I hold on, can I rely on you, a weakling?!"

While David was roaring at John Smith, Chief Legal Officer Debbie Hogan coughed again and said lightly:

"Mr. David Smith, Mr. John Smith have put forward his proposal and the process requires us to vote on it."

David Smith took a deep breath, looked at everyone coldly, raised his hand first and said:

"I object!"

"I object too!"

"I object to this proposal too!"

Next, two other family members, Duncan Smith and Robert Smith, who are also the "three brothers from the ex-wife", expressed their attitude.

Three votes against, 3:0.

Seeing this, John Smith immediately said:

"I agree, David must leave the company to have any hope!"

After he finished speaking, he looked at his allies.

"I agree."

"I agree."

Not surprisingly, the "current three siblings" also fought back.

3:3, draw.

It is now obvious that there is internal strife within the Sinclair family. The six people took the lead in expressing their opinions in the hope of influencing other board members.

"We oppose this proposal and believe that what Sinclair Group needs most at present is stability, so as to give investors confidence instead of rashly changing managers."

This statement comes from representatives of Bank of New York Mellon, and it seems that they are more supportive of David Smith.

At this time, John Smith's eyes wandered and finally fell on the representative of Fidelity Investments.

"We support this proposal, not on the basis of you, Mr. David Smith, we just hope that Sinclair Group can change."

4:4, tied again!