FormerXBC Inc XEBEQ

RE:Operational underperformance and inexperience

[DueDiligence20]

TradePro wrote: Let's take a look at the managment team:

Jim Vounassis - has never been a CEO before this appointment by the Board. He has zero experience in Cleantech or a fast growing technology firm. In addition he comes from Bombardier, a company that basically went bust during he was there and had to sell all their businesses (most of them at a steep loss) so that they could maintain their private jet business.

Mike Munro - has never been a COO before. Has zero experience in Cleantech or a fast growing technology company

Stephane Archambault - has never been a CFO until being appointed by the Board of Xebec to this position. No experience in a fast growing technology firm or Cleantech

Nathalie Theberge - has never been a CLO before. No experience in a fast growing technology firm or manufacturing background.

Marinus van Driel - has lots of experience in hydrogen and the technology space. He has just been sidelined by the CEO into a special projects role (normally a dead end job). It would be a surprise if he will hang around very long. Let's see.

You can check all this on LInkedIn. It is really an eye opener.

So no surprise that XBC has issues with operational performance and delivering on their targets. The executive team consists of junior to mid-level executives without much experience in the field they operate in (expect van Driel), and are completely new in their role.

The real question is what is this Board thinking? There seems to be little thought given to the necessary qualifications for the senior executive team. Clearly a case of collective Board irresponsibility and incompetence. It is the Board that needs to held responsible.

I suggest people read TradePro's other two post made at the same time as this one above. Spot on analysis. I would also suggest that all shareholders write to the board asking why they implemented a managerial team with no experience of their current roles and no experience in this type of business (my opinion is that this could constitute negligence by them). As the problems are in operational delivery, also ask how the board intends to solve the problem they created and very soon. It is time for all shareholders to become activists. All of us should do whatever we can to help correct this company and our investment. If you can't be bothered to write that letter, please don't bother to post your complaints on this board. Do you want your investment to do better, or just winge. The choice is yours. YOUR COMPANY NEEDS YOU!