Chapter 118: The Rise of the General Meeting of Shareholders (Part II)
As the clock pointed to half past nine, the shareholders' meeting officially began, as the initiator of the extraordinary shareholders' meeting, Thomas Karinske personally took the stage to make a speech, reviewing the glorious history of Hasbro in the past, such as Hasbro's first successful toy Mr. Potato, the world's first doll toy special forces, the magical robot Transformers and so on. Alan Halsenfeld sat calmly in the audience, watching his opponent talk on stage, sneering disdainfully, but he was still very comfortable to be mentioned about his company's past classics and successes, so he decided that he would be merciful when that guy slipped away.
“…… Hasbro's past has been glorious, and it has paid off for its shareholders. Summing up this, Thomas Kalinsk's words changed sharply and began to criticize the current situation of Hasbro: "I believe that many of you here are aware of the changes in Hasbro this year. I don't think this can go on any longer, and the rights and interests of shareholders must be protected, so I am here to file a motion in the name of Hasbro's second largest shareholder to remove unqualified management and change the current loss-making situation. ”
Alan Hassenfeld knew that today's drama was coming, and he already knew from the notice of the shareholders' meeting that the other party was preparing to replace the company's management, and the other was to revise the company's future business strategy. In fact, in order to deal with possible takeovers, Alan Hassenfeld has already arranged a number of preventive anti-takeover measures, the first is the poison pill plan, which gives the company's shareholders the option to buy $200 worth of the company's shares at a price of $100, and when 20% of the company's shares or 30% of the shares are acquired, this option is provided to shareholders, if the acquirer buys more than 51% of the company The stock and options can be implemented, and the board members serve on a staggered basis, all to prevent outsiders from easily controlling the board of directors.
In order to protect the existing management, Alan Hassenfeld also arranged the Golden Parachute Program, when the acquisition occurs, the management must pay a lump sum compensation for the next year, whether it is voluntary or forced to leave, if the entire management is replaced, the compensation will be as high as $118 million, including CEO Al Verrickchar alone as much as $52 million.
As soon as Camry Toys acquired 17.6% of Hasbro's shares, it happened that it did not cross the line of the poison pill plan, and the corresponding options would naturally not be activated, Alan Hasenfeld originally thought that the other party would not easily try to move the management for the sake of the $118 million compensation of the Golden Parachute Plan, but he didn't expect the other party to make such a big determination, and even without fully grasping the board of directors, he directly attacked the management. However, as soon as he thought of the shares on his side, he immediately smiled contemptuously, believing that as long as the other party voted, the other party would know whose territory Hasbro was, and it was not a place for the people of Camry Toys to get it however they wanted.
"Well, let's now vote on whether to remove the current management, and ask everyone to make their own choices on the ballot. Glancing at the expressions of everyone in the audience, Thomas Karinske continued.
Representatives of CEO Al Willikchar and Hasbro have turned their attention to Alan Hasenfeld in the hope of gaining support from him, especially CEO Al Willikchar, who will definitely be the first to remove the management and hopes that Alan Willenfeld will intervene to stop the vote.
Alan Hassenfeld, who is "confident", made a reassuring gesture to CEO Al Verrickchar, knowing that the "management removal" motion would definitely not pass when the vote was made. As long as Al Verikchar is a little more restless, the guys at Gamei Toys will naturally retreat.
……
Twenty minutes later, the shareholders and shareholder representatives on the scene filled out their ballots and put them into the ballot boxes prepared in advance, and some of the shareholders who did not have time to arrive at the scene also expressed their thoughts through the online voting system, and the pre-designated scrutineer group composed of shareholder representatives, lawyers and others also began to count the results of on-site and online voting. About fifteen minutes later, the votes were counted, and the scrutineers elected Paul Anderson as the spokesperson to announce the results.
"As of the record date, Hasbro has a total share capital of 88235200 shares, and a total of 83823440 shares were present today and voted through the Internet, which exceeds the number of votes required by law and the company's articles of association, so the voting results are valid. Now I will announce the results of this vote," Paul Anderson took out a piece of paper, glanced at it and said: "Regarding the motion to remove the management, a total of 59117584 shares voted in favor, a total of 441176 abstentions, and a total of 24264680 shares against, more than two-thirds of the total share capital, and the motion was passed!"
Paul Anderson's "the motion passed" sounded in the ears of the CEO, or soon-to-be former CEO, Al Verrickchar, like a thunderclap, which shook him a little dazed for a while. What's the situation, didn't his boss just let him calm down a little, but he came up with such a result, and he even had a feeling of being betrayed in his heart, which was very uncomfortable, as if he had been abandoned by the whole world.
Alan Hasenfeld has no heart to care about Al Verrickchar's thoughts at this time, his own feelings are not much better now, just a minute ago, he still felt that everything was in his control, with Van Cleclew United, Citibank and some of the small shareholders who were co-opted on his side, which is equivalent to more than sixty percent of the shares supporting him, it can be said that he has been invincible, but the current situation is no less than being slapped on the spot, it is obvious that things are not as wonderful as he thought.
If it weren't for his good education since childhood, Alan Hasenfeld would have gone up and questioned Paul Anderson right now, but in this public, in order not to make himself more embarrassed, he could only endure it. Finally, when it was time to rest, Alan Hassenfeld immediately came to Paul Anderson, tried to control his emotions as much as possible, and tried to maintain his calm and asked, "Mr. Anderson, what the hell is going on?"
"What's going on?" asked Paul Anderson with an innocent look on his face.
"What's the matter!" Alan Hassenfeld felt a surge of anger rush through his head, and he couldn't help but roar angrily: "Anderson, you are embarrassed to ask me something, didn't you promise me on the phone yesterday, why did you suddenly change your mind today." Even if you have any dissatisfaction, you have to notify me before you change the hexagram, and now you make me so passive!"
Looking at Alan Hasenfeld, who gritted his teeth, the expression on Paul Anderson's face became even more aggrieved: "Mr. Hasenfield, you can blame me, yes, Citibank has changed its mind, but this is not my intention." In fact, until yesterday, even before today's shareholders' meeting, I thought that Citibank would support you, but just a few minutes before the meeting, I was notified that Citibank's plenipotentiary had changed, and even the wind direction had changed. I wanted to tell you, but it was too late. ”
"New Plenipotentiary?, who is that?" asked Alan Hassenfeld, puzzled, still a little unconvinced of Paul Anderson, how could it be such a coincidence.
"You see, it's sitting over there, the guy in the brown striped suit, with an Asian face, and he's talking to a white guy in a black suit next to him. Paul Anderson pointed with his finger and introduced: "His name is Mak Ka Chun, one of the board members of Citibank, close to the chairman of the VisualSystem Group, has planned many business mergers and acquisitions, and is said to have worked with that corporate sniper Carl Icahn." ”
"McCaren!" Alan Hassenfeld read the somewhat tongue-twisted name and looked in the direction of Paul Anderson's finger, and it just so happened that McGargin also looked in this direction, and when he saw his colleague Paul Anderson from Citibank, he nodded with a smile on his face, which was a distant greeting. But Mai Jiajun's smile, in Alan Hasenfeld's eyes, was full of ridicule, as if the winner was mocking the loser, which made him very unhappy.
Alan Hassenfeld believed Paul Anderson's statement a little bit at this time, one was that their relationship had always been very good, and he felt that Paul Anderson had no reason to lie to him, and the other was that he had heard of Mak Jiajun's name, and he had a little impression, which was similar to what Paul Anderson said. Alan Hasenfeld didn't know where his anger should go for a while, and at this time, he remembered another person, according to the published results, "more than two-thirds of the votes in favor", which means that Van Rock United also voted in favor, and it is clear that Gail Trim did not do anything good.
"This bastard, sitting next to me is so insidious!" Alan Hassenfeld muttered indignantly in his heart, then grinned at Paul Anderson, and turned around with even more anger to ask for an explanation, but then he found that Gail Trim, who had been in his seat a few minutes ago, was nowhere to be seen.
Alan Hassenfeld's eyes wandered around the arena, but unfortunately he still didn't see the shadow of Gale Trim, it seemed that the cunning guy had slipped away, and he couldn't help but whisper angrily: "This damn bastard, liar, is really fucking fast!"
……
"Alan, what are we going to do?" asked Al Verrickchar, the former CEO with a somewhat pale face, came to Alan Halsenfeld's side, he was still full of confidence one minute before the decision was made, but a minute later, he seemed to have been knocked straight from the top of a high mountain to the bottom of the valley, and it was like a roller coaster ride from the top of the track directly into the water. The golden parachute plan that once gave him confidence, once others made up their minds, he found that it was just like a floating cloud, because what he really cared about was not the compensation of more than 50 million US dollars, but to be able to show his strengths in the position of Hasbro CEO.
"Solution?" Alan Hassenfeld smiled bitterly, now he is already unable to protect himself, if the other party is ruthless, he can use this opportunity to kill him, at least he can be expelled by re-electing the board of directors, how can he still have the heart to think about the life and death of others, and he thinks that the former CEO Al Velikchar is not a loss, and he can't go with more than 50 million US dollars, and it is not impossible to even burn buns and then start a toy company by himself.
Alan Hasenfeld shook his head with a wry smile, and slowly walked to the side, he still had to think about the current situation, what should he do to protect his own interests and protect the interests of the family to the greatest extent. Alan Hassenfeld left, leaving former CEO Al Verrickchar standing alone, looking very lonely and helpless......
……
"Okay, now that the motion to remove management has been passed, I'm proposing that Brian Goldner take over as CEO......"
After the break, Thomas Karinske continued the conversation with the intention of changing the company's current management, starting with the CEO. Maybe the name Brian Goldner is too unfamiliar to Alan Hasenfeld, or maybe he has a feeling of sadness, Thomas Karinske couldn't help but stand up and say loudly before he finished speaking: "I object, I don't think Bryan Goldner will have any better way, on the contrary, I think the current CEO Mr. Verrick Char is already dealing with the current situation, if the replacement is now I am afraid that it will not be beneficial to the interests of the company and shareholders!"
"Mr. Hasenfeld," said Thomas Karinske, who did not show any displeasure at Alan Hasenfeld's interruption, still smiling, "since you are against it, it is better to let Mr. Verrick Char and Mr. Goldner tell us what they want to do in the future, so that the shareholders can make a choice that is more beneficial to the development of the company." ”
What Thomas Karinske said was so high-sounding and plausible that Alan Hasenfeld could no longer object to it, and besides, he had meant it in the first place, because it might be El Verrickchar's only chance. As for the other shareholders, they are also interested in learning about what Al Verrickchar and Brian Goldner can do to solve the current dilemma facing Hasbro, after all, making money is the main concern of shareholders.
"Let's let Mr. Verrickchar come first!" Before Alan Hassenfeld could say anything, Thomas Karinske gave in the order, and in order to seize the last chance, El Verikchar acquiesced.
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