In my view it points toward a serious issue within the top level of management at this company. You only get senior managers arriving and leaving again so quickly at this level when the outside talent and the established managers can't work with each other. And that can mean only one thing. The incumbents refuse to acknowledge divergent views based on outside experience. Looking at the structure of this company's senior management is alarming: three CEOs and two presidents within an 11 member team. That's insanely top heavy. Either there are people on this team doing middle-management work under a C-level label, or there are paralysing overlaps and redundancies in areas of authority. These people are going to constantly interfering with each other and potentially squabbling over boundaries instead of cooperating and concentrating on running the business.
And over it all is Dr Greene as yet another CEO (Group this time) and positions on both boards of directors. It's pretty clear that there is only one person who considers himself capable of running this company, and that he will allow neither dissent nor discussion once he has decided on a position. It is also pretty clear from the company's recent performance that he is not the person to be holding this position. It will be interesting to see what comes out of the strategic review.
If a fish rots from the head then this fish is doomed to decay.
EOS Price at posting:
$2.65 Sentiment: Hold Disclosure: Held
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