RE:Did Chen really say that?I really feel bad for this c e o, he has it rough!
So rough in fact he expressed that he was frustrated with the company being undervalued.
Reminds me of the time when the c e o said "I don't know my share price"
Yes, he said those words... and these headlines belong under his failure to produce results.
CEO John Chen on BlackBerry’s pivot to cybersecurity, his undying love of keyboards, and why he doesn’t know his stock price
BlackBerry’s faced a bit of criticism about its business plan — that there isn’t a lot of transparency on how you’ll grow the company. What do you say to people who say that?
Under valued is a problem, yet he really didn't express any excitement or pound his chest exclaiming success was coming.... BlackBerry are not undervalued, BlackBerry have underperformed under this c e o.
Instead, he spoke about Ivy revenues years away, QNX in more cars, with a one time revenue model... just the engineering effort to keep QNX relevant is massive.
A broken revenue model... how a c e o can make statements of frustration that are rooted in a model he is responsible for and not offer a road forward has got to be the frustrating part of the equation for a shareholder.
In many business, including bb, like when the c e o fired the last 4 Sales Presidents, like when an employee consistently under delivers and hasn't the ability to adjust and improve they are generally moved out...
This c e o demonstrated he is tired, used up, looking and sounding defeated, fresh out of the ideas, energy and needed leadership.
Two huge reasons for bb low valuation are negative revenue growth, no profitability projection and a c e o claiming to be frustrated with no new ideas.