Then none would have made any extra money and they would have to figure out how to grow and win new customers. The apathetic board lets this merry go round keep circling around. This is not fixable. ELT will keep laying off while they su-k what’s left of this dinosaur dry.
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Most of the new ELT members did not expect to turnaround this mess. They just signed on to get highly compensated without having to grow revenue or win new customers. Look at how much SM and HA have raked in the past 3-4 years and what did either one of them do to add a single dollar of value? Not bad work if you can find a board of directors who will let you get away with it...
None of the ELT including the recently departed CRO have any experience in winning new business. They are all grifters coming from elsewhere, where their only job was to try to hold onto existing customers. The ELT have zero capability to win a new logo and this is shown in the earnings reports
The Board is not apathetic - they're involved in making millions for NOT doing their fiduciary jobs. Why would they change anything? They and the ELT get rich while the company goes down the drain. Not sure? Just look at all the grants / sales by Directors who are supposed to be concerned about shareholder value. In reality, the greedy. A leveraged buy-out or Board takeover "might" rescue the company (doubtful); otherwise, it's a goner.