Mike Parker Resigns

By: Rob Sedgwick
Date: 02/03/2011

TOWN vice-chairman Mike Parker has resigned from the board over a disagreement about the structure and voting system of the GTFC Board. The five members of the board vote equally, rather than on the basis of their funding level. Currently Chairman John Fenty and Mike Parker between them fund the club.

Mike Parker says he will continue to help fund the club, but from a position outside the board, although he would like to increase the number of shares he owns in the club. Currently John Fenty has a majority shareholding in Grimsby Town which gives him absolute power.

A statement from Parker read: "There is not the appetite for change at board level which I had hoped for and been led to believe existed."

Lifelong Town fan Parker joined the club as a director in November 2009 and was made vice-chairman in the summer after committing to an investment of half a million pounds.

His statement added: "The board discussed the position of John Fenty as chairman. Again, I supported the board in backing John to continue as chairman.

"However, for some time I have been pressing for other changes to be made in the club's board structure and believed that these changes had been agreed, but they were voted down by a board majority at the meeting.

"During this discussion I felt that my personal motives were being questioned, which I find unacceptable.

"Whilst the board has a membership of five, and decisions are taken by the board on the basis of 'one man one vote', rather than financial commitment to the club, then I believe that it will be very difficult for any meaningful changes to be implemented.

"It is for this reason that I have tendered my resignation.

"Previously I have committed to the club that I would share the funding of predicted losses going forward. As I am determined that my resignation will not threaten the club's finances, I will honour that commitment.

"With this in mind, and in the absence of any other board-sourced funding, I have proposed to John that I purchase additional shares, likely to take my shareholding to £1m.

"Clearly I will remain a substantial shareholder in the club and I will continue to work in its best interests. At this stage, I see this being best done from outside the boardroom, rather than within it. As a lifelong fan I will always have the best interests of the club at heart and hope for every success in the future."

Grim Rob Says It's disappointing that this has happened, and one can see Mike Parker's point. It's a shame that some compromise cannot be reached, and hopefully this can still happen as clearly Mike still wants to be involved.

I was one of the shareholders which voted for John Fenty to increase his shareholding so that he had total control of the club. I still believe that was the right decision to make at the time, however it does appear to be discouraging the involvement of other parties on the board.

I don't care who runs Grimsby Town as long as there is a stable financial platform on which the team can operate. If people are willing to invest in the club a system which encourages their involvement would be more preferable than one which forces them to play a backseat role.

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