Although it is too late for this year, looking ahead to next year, I would challenge Fondia’s shareholders to critically consider the size of Fondia’s Board of Directors (1+5) and whether the fees paid to them are reasonable. Currently, about a tenth of Fondia’s profit flows into these fees, and in my opinion, that is too much.
The Annual General Meeting decided that the following fees be paid to the members of the Board of Directors: 3,500 euros per month to the Chairman of the Board and 2,000 euros per month to each of the other members of the Board.
In my opinion, Fondia would manage just fine with a board half that size, and I believe the fees are quite high. Fondia’s Articles of Association also allow for this. Of course, a competent board that brings value to the company deserves compensation for its work.
Additionally, I would like to see the board’s compensation paid at least partially in Fondia shares, which would increase the board’s commitment to Fondia’s success.
I already criticized the situation a couple of years ago when the board was expanded even further, even during the era of remote meetings, to its current size.