The Noorda Family Trust WILL withhold votes for some of Novell's Directors,
according to this web page:
canopy.com
The web page didn't work when I tried to access it using a URL published on the Yahoo board. It worked later when I typed in the URL. I subsequently received an e-mail from Ralph Yarrow that confirms the Yahoo post and the Nooda Family Trust's intention regarding Novell BOD voting.
Here's the message from the Canopy web page:
Noorda Family Trust Voting
On April 7th 1998, The Noorda Family Trust, which represents over 7% of Novell, will "withhold authority to vote for any individual nominee" and list the names of Elaine Bond, Hans-Werner Hector, Jack Messman, and Larry Sonsini. Our hope is to remove those individuals, in our opinion, that have been destructive, unresponsive, and/or have participated in making poor decisions in the past that have damaged the value of the company. We do not confuse the board's apparent support of Dr. Schmidt's plan and direction with normal board participation, but would rather refer to their support as apathetic and complacent. We hope that these members will take responsibility for their participation in past action that have hurt Novell and its' Shareholders. Their removal is overdue! Our continued support and confidence remains in Eric Schmidt, and we trust his judgment in
constructing an active, concerned, and aggressive Board of Directors that will play an important role in Novell's future.
We hope others will take similar action, and we are aggressively seeking the support of others. The Noorda Family Trust is devoted to increasing the value of Novell. Our heart is in Novell's long term success and existence.
Ralph Yarro
General Manager
Noorda Family Trust |
