RE:RE:RE:RE:RE:RE:RE:How much to trust? Or not?The CEO decision was unexpected, in terms of timing, but was not unexpected once QTRH settled on where in the ITS space it would focus. Paul Hill was a deal maker who set clear, measurable goals, and achieved them. As long as QTRH was an asset aggregator in the ITS space generally plus the operator of a patent monetization unit, he was the man. The ITS/patent licensing combination recieved a lot of push back from the high net worth investor crowd that QTRH was pursuing.
Once the pure-play ITS decision was made with the focus on tolling and enforcement - a corporate CEO was no longer a QTRH need. Bret Kidd and Rish Malhotra headed sound management teams at both the focus business segments. Paul must have known that once ETC was acquired, it put QTRH at scale in the ITS business, and his aggregator skill set was less needed. Paul Hill put those pieces in place and he was handsomely rewarded for doing so with a generous dollar and cents exit package plus he retained his options so that he could participate in the QTRH growth curve he was instrumental in kick starting.
So why does QTRH still have a corporate CEO. There are still important corporate projects that need to be addressed. The corporate CEO allows the operating division to laser focus on their respective bussinesses, without distraction. IMO the essential corporate projects now are:
- Divestiture of the Wilan patent licensing unit;
- Identifying and executing supportive tuck in acquisitions in tolling and/or enforcement;
- Developing the corporate blueprint to form a single ITS operating company;
- Identifying and overseeing the capture of synergies between the operating divisions;
- Assisting the BoD with the transition of the Board to a BoD with intgelligent transportation sector skills; and
- Developing additional strategies to enhance liquidity of the company's stock.