Im not dressing anything up. Im not an insider and have the inside goss on why he left. If Tindall left because its a sinking ship then that really is something that says a lot about him. Theres all sorts of reasons why he could have left- including he didnt get the top job losing out to the President of EOS EMEA or he was asked to go or he gracefully resigned with the writting on the wall which is classy move. Good luck to him in his future endeavours.
But if Im the new CEO and this guy resigned then I take that in a flash and save $400K at least in ongoing salary. Saves me from paying a severance and paying out any accrued rights. Space (ex Spacelink) is operating at a loss. No major SDA contracts. Buck stops with him. Have Bettinger, CEO Spacelink, report direct into the CEO.
Its fact that we need to take costs out of Space- the Board has said as much. Start with the senior execs and streamline the bloated bloated management structure put in place by our grandiose ex CEO with no apparent focus on financial management, i think we agree on that.
We have Sanderson CEO Defence, Pete Short Chief Operating Officer, Matt Jones CEO Defence Australia, Hicks Chief Marketing Officer, a CIO, a CTO, the ex CEO a Head of Innovation, Presidents in Asia Pac, US and UAE, the mind boggles. This isnt including exces in Spacelink or EM Solutions. Its like the exec team of Lockheed Martin or something.
EOS Price at posting:
72.0¢ Sentiment: Hold Disclosure: Held
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