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Although I have lived in Scotland for many years I have been a lifelong supporter of the Wanderers.
It was with some alarm, therefore, that I read Ken Anderson is on the verge of becoming the ‘sole owner’.
Before explaining my concerns, may I remind Mr Anderson there are several thousand minority shareholders in the Club, including me.
My main concern is that, even before Mr Anderson gains almost complete control, the management of the Club must be held as a prime example of bad corporate governance.
We have a board with just two directors, no non-executive directors, no finance director, no company secretary and no identification of auditors.
The club was exceedingly lucky not to be punished by the authorities for publishing its 2014/15 accounts some 10 months beyond the statutory deadline. It will not be so lucky if it fails to submit its 2015/16 accounts by the statutory deadline looming at the end of this month.
It is a mystery as who is producing the accounts. However, whenever the accounts appear, they promise to make intriguing reading.
Adrian Fitzgerald,
Midlothian
Source
It was with some alarm, therefore, that I read Ken Anderson is on the verge of becoming the ‘sole owner’.
Before explaining my concerns, may I remind Mr Anderson there are several thousand minority shareholders in the Club, including me.
My main concern is that, even before Mr Anderson gains almost complete control, the management of the Club must be held as a prime example of bad corporate governance.
We have a board with just two directors, no non-executive directors, no finance director, no company secretary and no identification of auditors.
The club was exceedingly lucky not to be punished by the authorities for publishing its 2014/15 accounts some 10 months beyond the statutory deadline. It will not be so lucky if it fails to submit its 2015/16 accounts by the statutory deadline looming at the end of this month.
It is a mystery as who is producing the accounts. However, whenever the accounts appear, they promise to make intriguing reading.
Adrian Fitzgerald,
Midlothian
Source