Rakon says director fees, managing director’s pay frozen pending $25M ebitda target

Fri, 07 Sep 2012

By Jonathan Underhill Sept. 7 (BusinessDesk) - Rakon’s board of directors won’t get an individual fee increase until the company’s pretax earnings almost double to $25 million and managing director Brent Robinson has agreed to a pay freeze on the same terms, chairman Bryan Mogridge says. “We admit our performance hasn’t been good especially when compared to where it has dropped to now from the overbid highs of 2007,” he told shareholders at their annual meeting today. Rakon shares rose 2.3 percent to 45 cents today. They’re trading at just a...

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