What is Mike Pivac Doing? Something? Anything?, page-677

I know we all dislike the pivacs for not keeping shareholders informed and their shameless greed but I have a few points on management:
1) they have been able to develop the hx which is now a market leader and monopoly product in robotic brick laying. It has taken time but the hx was developed in Australia against all odds.
2) they are founders that would have had the chance to sell out along the way but saw and still see the potential of fbr and the total addressable market,
4) I don’t think any other mba qualifies glorified Harvard educated ceo or cto would be as invested or more capable in running fbr. They would lack the experience with the product and the passion to see this thing through. I agree that at this stage they could benefit from maybe bringing someone with the necessary skills onboard but I believe having the pivacs will always be an asset given their experience as founders developing this from scratch.
3) they received the votes for their shameless share grabs and monster pay packets. Not my vote obviously. Like it or not, shareholders approved their pay and incentives. While we can whinge about things, shareholders in aggregate believe in the pivacs in taking this to the next level and believe they are being appropriately rewarded.

all my opinion only. Not investment advice. Do your own research etc etc…