RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:FYIWe still don't know if she left or was fired, but if she was fired, a positive way to look at it is that they were only able to hire a junior person because two years ago no senior person with a good job elsewhere would have accepted the job. Now, if they know something great is coming in oncology, it would then allow them to hire a real senior person that would be attracted to join a booming company. I try to be positive here. One thing is sure, if Levesque was unsatisfied with Boucher and Gibson, the timing is right to make a change if results are going to be good. Really good results will make this company not only more attractive to potential shareholders, but also more attractive to potential employees. It will also prove that real good results are way more important than good communication. Real good results will be very easy to communicate. A very good news will spread like a wildfire. Naturally...
Wino115 wrote: Yes - she didn't execute it seems. They took a risk with a junior person taking the lead IR role. Had to pay up with LSA to finally get solid material. I'm sure PL didn't like having to cut that hefty check when he had internal IR/PR who just couldn't get it done themselves.
Perhaps she just wasn't up to the task given how fundamentally the market changed over her 2 year stint. I would agree she may not have had a lot to work with, but for the visible material, what LSA did 2 years later could have been done a long, long time ago. Maybe the lousy conference video being posted was the final straw - I mean that was rather unprofessional to release in that form and anyone could see that. Maybe not an IR issue, but probably reflected the overall external engagement efforts.
I completely agree with many here that there is no harm in rethinking the skills you want, seniority level needed and overall IR strategy prior to moving the "brand" into more solid ground around pipeline developments and further into big markets with large commercialization potential.
You could even split it in to retail and institutional and farm one out. Lot's of things you can do and I guess it's up to Dubuc and PL to figure that one out over the next 6 months. It could be they aren't worried because they know the milestones over the next 6 months will make that IR job rather easy (we hope!) and it will provide the necessary time and news to attract someone really, really good with far more extensive experience in a company like what they will become.
qwerty22 wrote: I don't know, it seems like individuals further up the food chain must have OK'd (and funded) the IR strategy. Are we saying she was just terrible at execution? Seems like the strategy had very little depth. Is that because it was given low priority? That would be a decision made higher up seems to me.
At least we have an opportunity for change.
Wino115 wrote:
As I sort through IR issue, my guess is she knew very little about any scientific results and I think there's a high probability PL was frustrated for the same reasons we are.
First, we know all the science is kept close to the vest on a need to know basis. Further, trial is run outside of THTX and still not completed. She was even further removed sitting in Boston. I seriously doubt she knew any details around trials.
Second, if I were PL and Dubuc, I would see a few glaring inadequacies, such as what we have seen. She pretty clearly was only skilled in the old-style institutional approach for much larger cap successful stock listings- ones that don't require turning over every stone, being creative in how to get meetings and pitch the company across new platforms. Furthermore, they had to pay LSA to script their pitch and write up new slides and language around what they have. You will recall that all of us here crowdsourced a far better version of their presentation and figured out on our own a much more compelling way to present the full company and relate it to comps, how to order the pitch, key points for key slides, etc.. We did this a year before she ever got anything through. It was only after the LSA intervention that a truly more thorough and logically set up pitch came through. So why pay her when you had to use outside firms to do her job. Then the website mixups...etc, There's a long list and PL needs to hold Dubuc and her accountable for not knowing how to do these low-hanging-fruit tasks. He saw what we saw, just took him some time and he understands he has to get the next 12 months right...and it starts in the next 8 weeks sometime.
I would guess they may lean on LSA for the next 6 months or so as they try to find the best person.My unsolicited suggestion would be do not hire anyone. Work with LSA on all the issues. I believe they have dedicated people that will run outsourced IR for you and between Dubuc, the new head of PR and LSA, you ought to be able to respond and let LSA keep moving you towards best in class material, meetings, etc.... If you find someone good, fine. But I've seen LDA contacts listed on IR inquiry forms for other firms.
palinc2000 wrote:
Or maybe the reasoning was
"Hope for the best but prepare for the worst"
SPCEO1 wrote: Well, the communications team has been swept clean. I am going to take the optimistic approach on why this happened and assume good news on cancer is coming and they realized they wanted to upgrade the communications area before that happens.
palinc2000 wrote: When Paul joined THTX 18 mos ago I was expecting a clean up which did not happen ....better late than never but there is still at least one bad apple
New Broom sweeps Clean .......
scarlet1967 wrote:
LouisW wrote: A VP of communications and affaires corporatives, Denis Bouncher was fired recently too. Refer to the link
https://www.droit-inc.com/article29626-Un-avocat-poursuit-son-ex-employeur
Further, he is trying to suit Thera.
This is what happens when bounces and increasing annual salaries are automatically allocated, how can one justify that if employees are underperforming? That applies to some of the board members including the chair woman who has been involved with another scandalous bonus allocations and some voted to keep some of these people for another year. If the SP had increased in the last few years in line with the increasing salaries/bonuses it would be fair to all stakeholders but it seems the shareholders are missing out while others are enjoying their compensations and are reluctant to do anything about it. Life is so peaceful for only few..
“For three years, he received bonuses and annual salary increases thanks to his “great professionalism” and “dedication” within the company. He thus claims 18 months of annual salary including increases and annual bonuses”