Surging forward

Alliance Select Foods International Inc. recently disclosed having received majority shareholder approval for an increase in the company’s authorized capital stock.

I can only imagine the elation of Alliance Select president Raymond See over this development. More so, when one considers the unnecessary distraction caused him by certain factions within the shareholder community.

It is not a secret that some disgruntled foreign shareholders have been questioning the talent and capabilities of See, at times even implying that he is a mere stooge of certain individuals with interests in the company.

In publicizing their spiteful sentiments through the press, it leaves one to ask… are they really after the good of the company they invested in? If so, then why malign the reputation of See. They imply that he is not independent which is rather foul and judgmental. Rather than being supportive and helpful, they seem to prefer to be a distraction.

No less than the majority of the company’s shareholders approved See’s appointment as president and CEO of Alliance Select. And if there are indeed any challenges that may be ailing the company at this time, these are challenges See has inherited. So, it is but fair to give him time to address them if they indeed exist.

See is believed to be no push-over. They say he was professionally headhunted and, I’m sure, properly vetted to run a large publicly listed international food company like Alliance Select. That, not to mention his stint of some two decades with the no-nonsense global company Shell.  And we’re pretty sure that where improvements may be needed, a professional like See will properly and adequately address them.  

We can imagine how See has been neck-deep involved in addressing the company’s issues and challenges since he assumed the presidency, initiatives that should only bode well for the company which has set out to be a key global player in the multi-billion dollar tuna and salmon industries.

See describes his first three months as president of Alliance as “hectic but productive.”  And for him, the shareholders’ approval to increase Alliance’s authorized capital stock is both heartwarming and encouraging as it is a vote of confidence in the direction he and his new management team have set out on.

And to be sure, See stressed how he and his team are aggressively addressing the issues that are key to Alliance’s capacities, efficiencies and profitability.

The ensuing capital the company hopes to raise from the exercise of increasing its authorized capital would prove invaluable to Alliance’s operations and growth, resulting in a company truly better poised for more active global competition. It can be expected to provide greater flexibility for the company in sourcing funds for its planned expansion, as well as working capital and capital expenditure requirements.

At the sidelines of last week’s stockholders meeting. Alliance Select founder and chairman Jonathan Dee reiterated how the company started with a vision to be a global business offering its clients and the public with quality products. Like any business, it met tough challenges along the way. Nevertheless, they maintained their vision and the new management team is working very hard to hurdle those challenges

Like in any organization, the solution to a challenge is usually not a one-man job. And rightly so for it requires everyone to work together towards a common objective. And that includes the shareholders supporting the board they have chosen and the management that the board has in turn appointed.

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