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FormerXBC Inc XEBEQ

Xebec Adsorption Inc designs, engineers, and manufactures products that are used for purification, separation, dehydration, and filtration equipment for gases and compressed air. The company operates in three reportable segments: Systems, Corporate and other, and Support. Its product lines are natural gas dryers for natural gas refueling stations, compressed gas filtration, biogas purification, associated gas, engineering services, and air dryers. The company's geographical segments are United States, Canada, China, Other, Korea, Italy, and France.


GREY:XEBEQ - Post by User

Post by DueDiligence20on Jun 01, 2022 2:27am
429 Views
Post# 34722241

COMPLAINTS AGAINST MANAGEMENT - VALIDITY?

COMPLAINTS AGAINST MANAGEMENT - VALIDITY?Other posters here have pointed out previously how management only gets the blame and never any of the credit from shareholders, with them referencing, in Xebec´s case, the lack of the latter in very late December 2020. When it goes right (share price up) the investor congratulates himself, when it goes wrong (share price drops) the investor blames everyone but himself. A horrible share price does a lot to bring out the blame crowd, as witnessed on this site as some blame others here for their misfortune.  

I therefore decided to take a look at any validity in comment with respect to Xebec. I see that it has been over a year now since a new COO (Jim Vounassis) and VP Global Ops (Mike Munro) were appointed to those positions. See below URL.  

https://xebecinc.com/news/xebec-announces-appointment-of-chief-operating-officer-and-vp-global-operations/  

Meanwhile an ex-top business school friend pointed out to me the typical length of a CEO transition period. This can approach one year and depends upon the complexity of the organisation. Let´s say in Xebec case it was only six months. If that is accurate, then perhaps blame for the most recent horror show lies not with the outgoing, but the incoming.
 
Moving forward to early February 2022 we see the below news.
 
https://xebecinc.com/news/xebec-announces-succession-plan-to-next-generation-leadership/   
 
In mid-March 2022 we get an accelerated transition with “in recognition of the accelerated progress made to date in transitioning Jim Vounassis into the role of President and CEO of Xebec, it has been determined to advance the formal date of such transition from May 12, 2022, such that it will take effect immediately.” – see the below URL.
 
https://xebecinc.com/news/xebec-announces-accelerated-ceo-transition/
 
If the above quote was true, then it suggests that the new CEO had had his hands on the wheel for some time already pre mid-March 2022. At least I hope so as part of that transition!
 
Taking all this into account, I think I know where any fault if any lies and has done so for nearly a year given the ops roles certain people were supposed to fulfil. It is very clear where things have gone wrong (Q1 results echo this point). I hope that this provides a topic for intelligent discourse and not just some more muck slinging.

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