Riverbed COO (Bob) straight out sucks! Least personable. He brought the whole morale down. Morale was 2 levels below sh-t when all hands started and it went 10 levels deeper after his disastrous meeting.
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The title is wrong. It should be the CEO sucks. If there’s anyone in upper management that has the most to do with Riverbed’s current condition, it’s him. Everyone else around is just collateral.
The spin on the debt restructuring is complete BS. If I owed $100 and was able to only pay $50, the smart choice would be to cut your losses bc there is nothing else of value to take. Thus, the interest saved from not being able to pay the original debt is nothing to celebrate. If anyone thinks Apollo didn’t take any lessons from TB’s experience, they’re fooling themselves because if anything, Riverbed is on a tighter leash. Used up by your long time girlfriend and now onto the next desperate rebound.
Hate to say it but those that held out on the founder shares are 💯% id--ts and feel sorry for them. What possibly in Riverbed could have convinced otherwise? In the coming months, expect to see a number of people departing and certainly anticipated by Apollo. For those who hold common shares, whatevs.
Oh and this Hyperion project? Bwahahahahahahahaha. If your position still allows growth then consider yourself fortunate. If a paycheck is what you are looking for, that’s also fine. Ambitious folks won’t stay here and that’s the talent staring at the exit.
If management wants to save this company with true talent, they can’t be cheap and they have not shown their ability to spend where it counts.
"I am surpised Apollo didn't make executive leadership replacement a condition of infusing cash post bankruptcy."
Why would they? Once they're in charge they can sweep the C-suite clean whenever they feel like it. I'd be shocked if they don't do that with the CEO position at the very least, and probably they'll want their own guy as CFO too.
Dan was our failed COO prior to promotion to CEO.
Lead a company into bankruptcy and act like it's a victory? I am surpised Apollo didn't make executive leadership replacement a condition of infusing cash post bankruptcy.
What was the bad news I didn't make the meeting.
To be fair, he was in a cr---y position. DS was all rah rah "hey we got rid of all this debt and we're getting all this cash! this is great!" and then left it to BA to deliver the bad news. Not saying he did a great job of delivering the bad news, but it shouldn't have been HIS job.
BA could give a st about the people who invested their savings in this sinking ship thinking the rvbd “family” would look after them when things went south. You can bet BA’s payout has an ironclad guarantee so that’s all right then. “Hey, JH, say something touchy feely to get these aholes off my back’” - “sorry BA, mic was on mute while I was lmfao”
Patronizing for sure. That's ok if one can deliver results. Not sure he has/can.