RFC AGM Fallout - Is it time to move on?

[Frankie 8,103]

http://www.gersnet.co.uk/index.php/latest-news/209-is-it-time-to-move-on

 

It’s been a long time coming but finally the Rangers AGM arrived and at last we have some clarity on just how well supported the incumbent board is. In fact, the result was pretty conclusive – certainly for most of the Directors up for reappointment while those externally up for nomination struggled to achieve as much support. Therefore, whilst the issue of backing may not be as straightforward as it seems, no-one can deny it should now be time to move on and allow the club some space to consolidate its position. Such an abeyance of hostilities is essential for two main reasons: one, to give the ‘new’ board some time to deliver on their promises, and, two, to hopefully ensure the support doesn’t rip itself apart after a quite ludicrous period of belligerent disagreement between so-called rival factions of fans.

 

So where are we now? Yesterday’s AGM statement to the London Stock Exchange revealed a short term ‘120 day strategic focus’ for the board on a range of important matters: including a detailed business review and attempts to re-engage with the fans to better capture our opinions. Along with other strategies highlighted in the statement, the aims are impressive and I doubt many fans would challenge them. However, we’ve heard similar buzz-words and phrases before – from Sir David Murray, Craig Whyte and Charles Green – all of whom failed to take the business forward during this modern era of austerity. What can this mandated ‘new board’ do differently?

 

Let’s start with its make-up. Despite the institutional confidence placed upon most of the nominated incumbents yesterday, the scenes at the AGM were quite frankly incredible with specific focus on Finance Director Brian Stockbridge. It seems clear now that not only do thousands of fans have an issue with his position but also the vast bulk of the 1600 shareholders present yesterday. Moreover, the fact over 30% of other investors do not consider him re-electable arguably makes his position untenable on its own. However, add in his flawed performance and questionable behaviour of the last year then if the board is serious about trust, transparency and staff ‘pride’ in Rangers then Stockbridge must be moved on. Anything else would cast serious doubt on those that wish to lead the club back to success.

 

Of course the rest of the board, other than Graham Wallace, don’t convince either. Neither Easdale brother speaks well or commands the respect of the support while new chairman David Somers appears inconsistent in his approach – one day signing his name to daft and inflammatory ‘open letters’, while the next saying he has no problem with people he previously labelled as selfish ‘fanatics’. It seems clear Mr Somers needs to familiarise himself with the high profile nature of the Rangers chairmanship and quick. Fortunately, new CEO Graham Wallace has been more measured in his approach so it’s not a surprise to see him warmly received by all so far. Mr Wallace can and should use this to his advantage by acting as a conduit to both investors and fans in the months ahead.

 

With the above in mind, it seems obvious the board will need strengthened if the club’s 120 day plan is to be successful. I’m not sure adding either Murray to the mix will help but I’d hope Scott Murdoch and the impressive Alex Wilson are considered given Cenkos already gave their approval to their applications earlier in the year. That would go some way to bringing everyone around the same table ahead of the April finances ‘D’ Day. Speaking of which, obviously Dave King should be another who must be consulted with, even if his past and recent performance remains worthy of debate. I’m sure there are others out there who could add the right mix of independent business talent and Rangers-mindedness to improve the board. One such name I’ve heard mentioned is John McClure of Unicorn Asset Management who own(ed) upwards of 400,000 pre-IPO shares in the club. No matter who joins this board, the pressure will be high to deliver on their statement of yesterday. However, they do deserve time to implement the changes promised – just how much time may be reliant on their ongoing performance. For example, the issue of Jack Irvine’s retention cannot be kicked into the long grass.

 

Moving on from the board the next important issue is that of the fans. The way many people (mostly online) have turned on each other over the last 6 months has been nothing short of remarkable. It seems polite disagreement cannot happen nowadays with insult and abuse being preferred instead. This has to stop and stop now. If not, our club will be easy pickings for those who wish to use it in a way to benefit themselves only. It also offers an easy excuse for the club not to engage with the fans as it should.

 

Of course it doesn’t help that our fan groups seem so badly advised while struggling generally as well. I don’t blame the Trust, Assembly or Association for believing in the likes of successful businessman Jim McColl but jumping into his camp with both feet meant any sort of negotiation with the board was always going to be difficult. Add in their collective failure to achieve widespread support within the fan-base (via active membership more than anything else) then it’s debatable just how important the club will see them in the future. This is a great shame when we examine fine initiatives such as BuyRangers but perhaps something new can arise from embers of the existing groups? Hearts and Dunfermline fans have shown the way in this respect so we should be looking to them for inspiration. I’d certainly suggest each fan group outlines its own 120 day plan to show they’re capable of improvement. Only then may the club (and most importantly more fans) feel engagement with them is worthwhile.

 

All in all despite yesterday’s conclusive AGM vote, uncertainty remains and that should be a concern for us all – the club director, the investor and the ‘ordinary’ fan. Indeed, financing the club is the biggest issue ahead and this can only be achieved by everyone working together for the greater good. We can all make sacrifices in that regard so I’d urge all involved to examine their contribution and ask if the betterment of Rangers is really their aim. If it’s not, then yesterday’s farcical AGM scenes will only be the start of more stormy waters ahead. That cannot be allowed to happen. Thus, in the spirit of Christmas and New Year, this is an opportunity to offer goodwill to others and start afresh in 2014. In that regard I’d like to wish all my fellow fans a happy holiday season and all the very best for the next year. Rest and be merry as, for the boardroom and the fan groups at least, the clock is ticking: 120 days and counting!

[Super Cooper 0]

It's time to up the ante. Protests with merchandising and catering boycotts etc etc

[the gunslinger 3,366]

120 days is lovely.

 

they will announce all sorts of guff and in 121 days season book renewals will come out.

 

then when the moneys in the accounts,admissions and excuses will come out.

 

then we will be back to December and the agm and wallaces replacement will be telling us costs are to high and income to low and need looked at.

[Tom Davison 0]

In what is an excellent article, Frankie has highlighted that it makes sense to let Wallace to advance steps, which he considers to be both sensible and overdue. One of the first and obvious steps must surely relate to the position of the Finance Director. Unless action is taken to remove Stockbridge from what is a key position in the club, it will indicate that Graham Wallace is unwilling to walk the talk or that he is a prisoner of other board members, who, in spite of the overall voting return, remain suspect, in the eyes of many of the non-large investor shareholders and other good people, who have invested in the club, over many years, through their loyal support.

[SteveC 150]

120 days is lovely.

 

they will announce all sorts of guff and in 121 days season book renewals will come out.

 

then when the moneys in the accounts,admissions and excuses will come out.

 

then we will be back to December and the agm and wallaces replacement will be telling us costs are to high and income to low and need looked at.

 

In a hundred and twenty days much could have changed, both Wallaces could have gone, Ally too. If not, they all will be soon after

[chilledbear 16]

I would be willing to give Wallace a chance, but he has only one vote same as the others.

 

My support will depend on the positions of Stockbridge and Irvine.

[bigy 0]

I know the Board have done nothing to instill confidence, but at the same time I find it hard to believe that so many can either have been duped or be in this to do us over.

 

Ok, they're all businessmen and want to make money - but the way you make money is by being successful on and off the pitch. That means SPFL top league, Europe / Champions League, etc. I still fail to see what they gain by f*cking us over at this stage.

 

Like everyone, none of it makes sense to me. I could understand if it was Green and the usual names, but how do they get Somers, Wallace, etc? Also, people who have left have been so vague with any accusations and don't seem to present hard evidence - Walter, Traynor, M Murray, etc.

[Stimpy 0]

We've no choice to give them a chance unless a supporter wins big on the lottery and buys them out. Vigilance is key.

[26th of foot 5,822]

The on going problem with both club and support is simple, it's leadership.

 

Watching our new Chairman yesterday was cringingly embarrassing. Somers spent at least 50% of his 2 hours on that stage, leaning back to converse with a trio of craning legal advice. Even better, after receiving words of wisdom he ignored or immediately forgot the prompt. There were a couple of delicious moments. Referring to one of the Easdale bookends, Sandy; his elongated home-county vowels patronised, "his local knowledge is most helpful and much appreciated". I am sure Sandy and Rangers provide Somers with endlessly entertaining bon mots for his board colleagues on those 4 banks he continually references.

 

The other piece of hilarity arrived when Malcolm Murray flashed his own PLC credentials, "I want to participate in clean PLC Board going forward; however, there are persons on that board not clean". Both Easdales, Brian Stockbridge, and Somers all turned their heads in choreographed unison to the legal support. The other three, Wallace, Crighton, and McCoist stared ahead, no doubt into a bleak and uncertain future.

 

Somers struggled throughout, reaching forward for acceptance whilst leaning back for support. When he rubbed his hands and wondered aloud as to the fellow Director who advised he would not need an overcoat; a wag behind me suggested Sandy could provide a concrete overcoat. The obvious seasonal analogy is pantomime, it's most apt. I believe the norm for the numerous casts of pantomime is to head off somewhere quiet and warm at the conclusion of several weeks of intense activity. Perhaps they could persuade Somers and some our supporters' reps to join them?

[the gunslinger 3,366]

somers for me should be replaced as chairman. we must have a rangers supporting chairman and a far more suitable one as well.