Post by
thetruth54 on Aug 03, 2024 7:10pm
Here is why Loukas should be fired ASAP
I will start this out by showing you that I am fair and balanced in my opinion. I was a supporter of Loukas when nobody wanted him as CEO and thought the company was going bankrupt. He did a brilliant job in saving the company. I give him total credit for that. But here is where the board and investors have made a poor judgement in thinking that those negotiating skills that Loukas exhibited translate into great CEO skills required to run Obe and drive shareholder value. Sorry but the experiment to let Loukas with no CEO experience get on the job training with the Obe investors money has been a complete failure. The obe investors have not received one penny in a dividend nor any shareholder value whatsoever to show for this failed experiment. But Loukas who by the way is an owner of his failed hedge fund: Front Four hedge fund has found the CEO job here at Obe to be quite profitable for himself as he set up a rich compensation program at the Obe investors expense. For those of you who don't do your due diligence on the CEO of the equity you own Mr. Loukas's hedge Fund had $207.93 million dollars worth of assets under management in 2019. You know what he and his partners drove it down to? The latest 13F filing with the SEC reveals that Front Four now has $26 million under management. Nice work huh? Its no wonder he has stayed this long as CEO. Most activist hedge funds would have put Obe up for sale by now. That is just how they operate. But if Loukas did that he might never find another cushy and profitable job like he has now. This clown is milking his job for the compensation. My concern is that Loukas does to Obe what he did to his hedge fund business and it looks like he is well on his way to doing just that. Fire this incompetent corporate parasite now.
What the people on this board who continue to live in fanatsy world with their happy talk BS spin posts is that projections,analysis,world class assets etc. mean nothing without a good CEO. Ultimately, it is people that make businesses successful. Loukas is not the right person. Wake up!!!