Rakon non-aligned shareholders oust Darren Robinson from board, loosen family's grip

Fri, 16 Sep 2016

By Fiona Rotherham Sept. 16 (BusinessDesk) - Rakon shareholders not aligned to founder Warren Robinson have voted his son Darren off the board as part of efforts to loosen his family's grip on the electronic components maker. Proxy votes went against re-electing Darren Robinson although chairman Bryan Mogridge survived the vote. Shareholders are upset at the company’s lacklustre performance, flagging share price, and lack of dividends since it listed 10 years ago. Mogridge was re-elected It is the first time the NZ Shareholders’ Assoc...

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