GREY:XEBEQ - Post by User
Comment by
Zipolitemexicoon Feb 12, 2021 12:29pm
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Post# 32553246
RE:Two steps forward and one step back OR....
RE:Two steps forward and one step back OR....We all had the feeling that Prabhu was in Kurt's succession plan. As you noted he deferred many questions to Prabhu during webinars. He signed off on many of the recent PRs. He was clearly second in command. So this announcement was a shock.
This may not have been Prabhu’s decision or perhaps entirely Kurt's decision either. The BOD would be engaged with the senior team in the year-end financial and operational review at this time. So the board may have played a role in this and based on what they had seen decided that the company had outgrown Prabhu's skills. That is a guess of course but the timing is odd. We are closing out last year and setting goals for the next one. The company just made transformative acquisitions.
The company tripled in size. Its scope has increased. It now has a big presence in Europe. Going forward, did they want more experience with a larger operation?
They still need a succession plan for Kurt. They now have Marinus in a key role and he would be a contender for CEO at some point. The new COO would likely be another. Healthy competition is a nice to have.
Sad to see Prabhu's departure.