FormerXBC Inc XEBEQ

COMPLAINTS AGAINST MANAGEMENT - VALIDITY?

[DueDiligence20]

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.

[Tapper35]

Agreed, it would certainly seem hard to remove a lot of the blame from the current management, given recent performance topped with the Q1 seminar, lack of communication etc.. 

[DueDiligence20]

319 Reads 1 Comment! 6 Thumbs up Intelligent discourse....Mmmm I can't quite say I expected so little...even from a chat board, sorry bored.

[HonestAl]

DueDiligence20 (117) User Actions   RE:COMPLAINTS AGAINST MANAGEMENT - VALIDITY? Hey, sorry, I'm trying to figure out the point you're trying to make.  Is it positive reimforcement you're looking for, in the form of dozens of THUMBS UPs?  I could care less, I'm only concerned with the success of this company and getting out from being

[DueDiligence20]

[Gann999]

Complains about not getting replies then when you do you can't handle the reply. It appears you just want your opinions coddled and agreed with.

[DueDiligence20]

As I half expected, muck slinging the only contribution from most on this board. Thank you for at least not disappointing me in this regard.  

[Gann999]

Are the complaints against management valid - YES, there's your answer no muck slinging it's why the sp is where it is. Management continually dissapoints and thinks it's business as usual. That's why investors are walking away from the company.

[tony08]

Gann said: Are the complaints against management valid - YES, there's your answer no muck slinging it's why the sp is where it is. Management continually dissapoints and thinks it's business as usual. That's why investors are walking away from the company. Gann like all of us you are frustrated and we all understand that.....But that's no reason to exaggerate

[Gann999]

I mean I am still here Tony so I am giving them a chance to prove themselves have been giving them time since march of last year to turn it around. I don't mean to exaggerate and yes a lot of my negative comments are just me expressing my frustration about the sp and maybe I should do a better job of just keeping those thoughts to myself. Sometimes emotions takeover and you say things out of

[tony08]

No problem Gann.......I know it's not easy

[Zebec2021]

[Kronyboy]

DD, as someone that generally reads all of your posts and likes your content, I think there's a lot of self-deprication happening here that isn't aligned with your general mantra. People have a right to criticize overly emotional sentiments, and I think it's fair for you to hear from a cool head that some of these more recent posts seem... emotionally unhinged. Appreciate your