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Technology Stocks : Zenith - One and Only
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To: james m dickerson who wrote (3527)12/2/1997 11:48:00 PM
From: Robert Utne  Read Replies (1) of 6570
 
Zenith Board of Directors:

The New Guard: Four from LG/LGE (none owning one share of ZE) and one
attorney (most probably, in the LGE camp).

The Old Guard: A retired Fedex excecutive (current ZE CEO), an
oil executive, a building products executive and a publishing/map executive.

The ideal director criteria suggested by BusinessWeek is as follows:
1. active and critical participants in determining company strategy
2. independent (not easily influenced by company politics/pressures)
3. own significant shares of company stock
4. focused on serving all shareowners' best interests

From all appearances, neither the Old Guard nor New Guard meet most of the criteria suggested by BusinessWeek.

Zenith's new ceo should be given the opportunity to recommend the removal and addition of Directors. We monority shareholders eagerly await his/her appointment and subsequent director recommendations to the shareholders (read LGE).

Suggestion for new Zenith policies regarding Directors:
1. To be appointed on the board or to remain on the board, each Director, for his/her personal account, will purchase and hold a minimum of 10,000 shares of ZE.
2. All Director compensation will be in the form of Zenith stock and be based on company performance.

I can't think of a better strategy to demonstrate to Wall Street that Zenith's Directors have full confidence in the recovery/sustainable profitability of Zenith. If this suggestion is not adopted by Zenith, I will ask (in behalf of my 400,000 proxy and own shares of ZE) that Zenith submit this proposal for shareholder vote.
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