Welcome, Opthea

It was with great joy and happiness today, that I read Circadian’s (ASX : CIR) AGM agenda.

This is a big deal. Finally, the company has decided to change its name and re-identify itself as the inner person it always needed to be : Opthea. It’s not a perfect brand, mind-you. When I think of Opthea, this is what I come up with:

Opthea

… but well done. It’s a start.

If shareholders really want to do well by the company, they should not only approve the new name – but they should also decide that after 10 years, it’s time for Dominique Fisher to step down. Here is recap, in case you have forgotten:

ASX CIR

No public company should have a non-executive director for 10 years. What CIR needs most right now is a board that can:

  1. Build partnering relationships for the company’s opthamology technology and redefine the business as a leading eye-care company (sans Circadian baggage).
  2. Carefully monitor and govern a fairly complex biologics development program and clinical trial(s).
  3. Mentor and develop a high-potential CEO.

Dominique should retire.


Thank you Diana for the feature image.

 

4 thoughts on “Welcome, Opthea

  1. Hi Chris,

    Wow what an awful new name……it is certainly not the work of a genius.

    Seriously though the historical SP says it all. Time to remove the dead wood and refresh the Board.

    Like

  2. Any director longer than 10 years should be on an “if so – why”. Not merely an internal assessment of independence. Who’s going to argue with such long standing members of the Board?
    Linda Nicholls @ Sigma, Jon Addison @ Phosphagenics. They get stale and too close to the action. Without realizing it they lose their independence – like bringing a frog to boil in a pot.

    ASX should change the governance rules to help/force the other directors to do some real succession planning.

    Like

  3. Pingback: Optheapology | The Long Tail

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