Everyone loves to blame Kurt.
Someone here recently called him a very derogatory term.
Why is that?
It's because there's noone else to to blame.
Prahbu is gone.
Remember the news release announcing his departure? "MONTREAL, Feb. 12, 2021 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. (TSX: XBC) (“ Xebec ” or the “ Corporation ”), a global provider of clean energy solutions for renewable and low carbon gases, today announced that effective immediately, Mr. Marinus Van Driel, who joined Xebec through its recent acquisition of HyGear, has been appointed to lead Xebec’s global hydrogen operations as the new President for the Global Hydrogen Group, in addition to his role as President for Xebec Europe. This is the first appointment in a series of planned management changes and appointments, as the Corporation reorganizes to allow for future growth.
Xebec also announced that Dr. Prabhu Rao is leaving Xebec in his capacity as Chief Operating Officer effective immediately. Mr. Rao continues to be a director of the Corporation but is not expected to be nominated for re-election at the Corporation’s upcoming annual meeting of shareholders. "
Let's consider what exactly is the role of a COO?
"The chief operating officer (COO) is a senior executive tasked with overseeing the day-to-day administrative and operational functions of a business.
The COO typically reports directly to the chief executive officer (CEO) and is considered to be second in the chain of command.
Depending on the CEO's preference, the COO often handles a company's internal affairs, while the CEO functions as the public face of the company, and thereby handles all outward-facing communication."
Prahbu was summarily dismissed with no explanation and little fanfare.
That was less than a year ago.
Isn't it possible that Xebec's historic misstep can be directly attributable to some poor business decisions on the part of Prahbu?
Isn't it possible that Kurt acted swiftly and decisively to excise a problem as any good CEO would?
Let's cut Kurt some slack here.
It's been less than a year.