Rich Rogers's questions to MANULIFE FINANCIAL (MFC) leadership • Q4 2014
Question
Rich Rogers of Abbey Capital questioned the extended insider trading blackout window, challenged the alignment of management's interests with shareholders due to a lack of open market purchases, and strongly advocated for a share buyback given the stock's poor performance.
Answer
President and CEO Gerardo Cortina explained the blackout window is dictated by their insider trading policy, which restricts purchases between the quarter-end and three days post-earnings reporting. VP Rene Randall and CEO Gerardo Cortina defended management's alignment, citing stock option plans and their focus on reshaping the business to be less reliant on commodity prices to drive long-term value for all shareholders.