It is more usual than not, that startup technology companies transfer leadership from the founder to professional executive management at an early stage. The skills of starting a company, such as selling the concept and raising investment are different from those of running a commercially successful business, so a change is usual. It is less common (but it happens) that a founder tries to hold on to power as if the now public company is still theirs, instead of instilling the absolute best talent to benefit shareholders. Failure to progress to new leadership often results in a failed tech startup. 14D has avoided that, just, albeit with what I consider some damage, mostly wasted tie and money and reputation, which I predict will persist for a little while yet. KM is now not the MD, not the Chair, not a director, but is a large shareholder still and may not rest easy with his new passive role.
14D Price at posting:
12.0¢ Sentiment: Hold Disclosure: Not Held
