New chair oversees exodus from argumentative SeaDragon board

Thu, 24 Sep 2015

By Suze Metherell Sept. 23 (BusinessDesk) - SeaDragon chairman Colin Groves presides over a board of mostly fresh faces in the wake of his appointment to the unprofitable fish oil company three months ago, after an exodus of directors. At a Wellington roadshow for a rights issue of up to $9 million earlier this month, Groves told investors his board had been "refreshed" because it was "governance gone mad". He described sitting in on a board meeting in May, before his appointment. "We had the classic lawyer, banker and accountant. I’m...

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