Re: Having the right CEO... Do we really even have a "genuine" CEO ?
in response to
by
posted on
Feb 13, 2014 05:57PM
It appears to me Cliff is a Chief Executive Officer in name only.
It's a legitimate question, because what truly Executive level/impacting decisions does Cliff make ?
Our entire revenue generation business decisions are conducted through PDS, and Carl is the President of PDS and on the PDS Board too; not Cliff. Carl is also the most powerful person on the BOD by virtue of being the Chairman of the Executive Committee, and as far as I know from his listed qualifications, Cliff has no legal training making him capable of directing or guiding hired Counsel through our legal entanglement matters either.
I really see Cliff as just a seat in the chair placeholder going on 5 years now; functioning daily more like his other more appropriate title of "Corporate Secretary". I believe he's even still the official "interm" CEO, and we as a company don't do much more than administrative and corporate housecleaning within PTSC; outside of PDS and our litigation.
I don't think Cliff offers anything to Shareholders, or to the value of the company, or our stock in his role of CEO; and I absolutely do not consider him a Corporate "leader" by any stretch of the imagination.
Just like we were doing before hiring him as CFO in late 2007, at a time when we were doing far more MMP licensings inaddition to our corporate and SEC filings, I also believe we can once again easily return to a temp for hire CFO; at one third of his cost.
I think Cliff's tenure and involvement as our CFO during the disasterous $20M M&A fiasco, and the $1M (?) ARS investment loss, and after his being personally paid about $2M in cash, while taking 6 figure cash bonuses with the stock at 5 cents per share, and his not even owning $10,000 worth PTSC stock investment, disqualifies him as a "Leader" or from being taken serious in that role; not to mention being questioned as qualified or sincere in looking out for the best interests of Shareholders.
That's my opinon.