CELTIC’S AGM take place on Friday. It’s that time of the year when Celtic shareholders can put their grievances forward to the Celtic board who should all be in attendance, apart from Dermot Desmond.
Ross Desmond has attended in recent years and presumably will be there again to sit in on hid father’s behalf.
Ordinary Resolutions
- To receive the accounts and auditors’ report
- To reappoint Dermot Desmond
- To reappoint Tom Allison
- To reappoint Brian Wilson
- To reappoint Christopher McKay
- To reappoint DBPO LLP as auditors
- To authorise the directors to determine the remuneration of the auditors
- To grant the director’s authority to allot shares
All these resolutions are a formality with DD being the majority shareholder and his wishes to keep the board as it is.
The Celtic Trust will be in attendance and intend to bring up two issues.
- What is the view of the Directors on the introduction of a shadow board?
- Will they consider implementing a ticket exchange facility for fans.
The trust advise regular shareholders to vote against the reappointment of Desmond, Allison and Wilson on the grounds that they have been on the Board for far longer than is acceptable in terms of good governance.
Celtic’s Next Chairman
We haven’t been given any indication about who will be Celtic’s net chairman. Ian Bankier will step down at the end of December with his successor still to be named. Could the board use the AGM to announce the new man?
There has been plenty of rumours surrounding Peter Lawwell returning to the club as chairman. The former chief executive hasn’t been far from the decision makers at Celtic since stepping down last year. Peter still attends Celtic Park and is in the board room on match days.
He still has the ear of everyone including Michael Nicholson. It will be seen as a divisive move within the support if Peter was to return to the club in an official capacity.
We’ll need to see how this plays out. This Celtic board like inside hires. We saw with Dom McKay who came in as an outsider and didn’t last long that the board like a closed shop in many ways. That’s why a Lawwell appointment would be on brand for Dermot Desmond.
It would be interesting if they did bring in someone again from the outside.
