GREY:RPBIF - Post by User
Post by
SolidFuelon Sep 16, 2014 6:23pm
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Post# 22941960
Purvin resigns as CEO
Purvin resigns as CEONot sure what to make of this...
On the one hand, Purvin seemed to have the right credentials and you would have expected that he could have made Response into a success. On the other hand, the results just did not materialize under his leadership. The great hope of massive sales growth in the China market actually turned into faultering Chinese sales and a questionable change in the overall sales structure.
Oh yeah and Purvin had a big fat salary... at like US$300k (or maybe it was even more) and I found him boring and uninspired on quarterly conference calls. Perhaps we are better off without Purvin at the helm.
So Tony Holler will step-up and be the interim CEO. Okay, maybe Tony can get our ship moving in the right direction again.
If they had asked me, I would have voted for bringing back Dr. Peter Thompson (Orbimed guy). I thought Peter was an excellent interim CEO the last time we went through this. I had a couple of opportunities to speak with Peter back when he was the interim CEO and I can tell you he was a very sharp businessman.
It was just a couple weeks ago that Peter stepped down as board chair and Lewis Shuster was appointed chair... so I guess Peter is stepping away from Response and it would have been too much to ask for him to assume the interim CEO position.
Let's hope that this shake-up is a pro-active move by Response's board to drive the company forward to attain profitability... and not Purvin being the first rat to flee a sinking ship.