He was unhappy over the procedure and process of the appointment of the new CFO.
Mr. Davidson, 55, expressed his unhappiness in an email to board members on September 28, 2016 but had not indicated at that time that he wished to resign as director.
He had five concerns expressed in said email. That while the CFO seemed competent, he was not the person to lead refinancing. That the CEO was not sufficiently consulted. That he was not present at the board meeting on September 22, 2016 as he was traveling. That the candidate was a friend of the remuneration consultant. And that the appointment was not urgent.
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