EXTAORDINARY GENERAL MEETING
William Kirsh and angry shareholders demand Cognition's board steps down
Businessman William Kirsh has called on the old board members of technology firm Cognition to step down for failing to increase shareholder value. Kirsh with other minority shareholders forced the company to hold an extraordinary general meeting (EGM) on Friday to appoint three nonexecutive directors, who he says will play a key role in turning around the ailing business. Of the three, shareholders voted in Dennis Lupambo and Trevor Ahier. Mark Harris, former CEO of Kagiso Media, was rejected by 58% of shareholders. Minority shareholders are unhappy about the performance of the company despite having bought a number of companies in recent years to provide more technology services. "Board members have destroyed shareholder value. The honourable thing will be to step down and allow a breath of fresh air to come and rejuvenate the company," Kirsh said. The Kirsh family owns less than 5% of Cognition. "Objectively, looking at where the share price is, for me that is a big signal that th...
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