So a lot of changes in the "C" Suite at WFT this year so far, how much more will be coming I wonder.
Question for the board here - how long does it take for an effective management team to affect change in an organization, WFT in this case? Given that there is a lot of middle management that does not see the big picture and prefers to stay in their own little silo. Debt is 3/4 of a Billion dollars. Revenue is still negative. Free cash flow has not been seen for some time and has Never been consistent. Employee moral (standard workers) is lowest ever with the most to be happy for is a check only. R&D has effectively been shuttered in most every product line with much of the talent released or soon to be released, thus, Future of tech that was not ready to go will now be pushed out further. Processes are still being standardized. A lot of Senior folks have left for other opportunities, said to have left for other opportunities (laid-off), or have been demoted.
How long to fix that? With stock sub $4 currently, will there be enough time? What do they sell off to make their interest payments (will give you OneStim pulling them through this year if it closes).
On the positive, they did get a Silver Award for the Best Annual Report.