Report: HSBC Selling Upstate Bank Branches
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#2 Jun 19, 2011
We have given HSBC and the Chairman an opportunity to send a response if they have any objections before posting this article.
THE BEHAVIOUR OF THE
At HSBC HOLDINGS PLC's AGM
NEW CHAIRMAN, NEW CEO, NEW FINANCE DIRECTOR and NEW WORDS but IS IT THE SAME OLD BEHAVIOUR? We ask you to decide.
You may like to go to HSBC’s AGM and see for yourself the Chairman's behaviour.
Please go to questions and answers 40:11 min's in then go to Resolutions 19:02 min's in.
The question is, did the Chairman give false and misleading information to Shareholders and the AGM?
Even when he had the facts, why did the Chairman ignores the True Facts?
So why would the Chairman give false and misleading information, did he refuse to tell the truth?
The question we ask Has Shareholders Been Cheated ?
Below part of a letter send to the Chairman.
(Abusing Your Position as Chairman at the AGM)
It is my personal belief that you abused your position as Chairman of HSBC Holdings PLC at the AGM. May I also express my disgust at your behaviour towards me. As Chairman you were in possession of the facts and I do question why you gave false and misleading information to Shareholders and the AGM.)
Richard Hennity response to the my letter to the Chairman was, I note the allegation (sorry Richard they are the facts) and criticisms of the Chairman that you have made in your letter which we do not accept and as far as I am concerned (so he is not concerned that the Chairman did not tell Shareholders the truth) do not warrant a response.
As shareholders we own this Bank, we have addressed serious question about the Chairman's behaviour, yet this employee in his wisdom states that they do not warrant a response.
When asked to put the reasons for his decision in writting he refused and he is General Counsel at HSBC.
The question is; Has this employee a duty not only to HSBC but also about HSBC’s Integrity, Reputation and Character also a duty to Shareholders?
The question is, was the Chairman negligent in giving false and misleading to the AGM, should Shareholders be questioning his ability to be our Chairman.
The question is by his actions at the AGM has the Chairman brought his office into disrepute and has he made his position as Chairman untenable?
Chairman admitted that Shareholder returns have been “inadequate” for the last five years. Since 2006 three Directors have filled their pockets with pay and awards of over £80,965,000. Mr Flint has filled his pockets with pay and awards of £18,712,000 for inadequate returns to Shareholders. Mr Gulliver’s pay and awards since 2008 £27,236,000.
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