Mr. Roustan has a deep admiration for the employees at the Company, and believes that he has the best long-term interests of all stakeholders at heart. Mr. Roustan has a unique knowledge of and passion for the Company, having been its Chairman since the acquisition of Bauer from Nike in 2008, through the IPO on the Toronto Stock Exchange on March 10, 2011, and serving as its Chairman through 2102.
In September 2015, Mr. Roustan submitted his name for one seat on the Board which was met by what Mr. Roustan believes to be an unprofessional and panicked reaction by the current Chairman, Bernie McDonell.
Mr. Roustan elected to save the Company what could have been millions of dollars of shareholders money being spent to block Mr. Roustan from gaining one seat not to mention the possible embarrassment being brought on to the Company by what Mr. Roustan believes potentially further outrageous actions by Chairman Bernie McDonell, and therefore, withdrew his name from consideration.......... for the time being.
Mr. Roustan expressed his concern over the Company’s change in strategy and that only one of the then eight existing Independent Directors had any shares at all in the Company and that Director only had 6,650. Collectively, the entire eight Independent Directors owned only 0.01% of the Company shares as opposed to Mr. Roustan's 1.39%. Mr. Roustan believed that there was no one on the Board with any real skin in the game.
Mr. Roustan called for the resignation of the Chairman and for the CEO to reconsider building out a retail network of Bauer stores. Mr. Roustan also called on seven of the eight Independent Directors to buy shares in the Company and for the Chairman to purchase more than the 6,650 that he has held since March 10, 2011, to demonstrate their faith and commitment to the Company not to mention to at the very least, have the appearance of having some skin in the game.