I'm selling the majority of my stock in the company after several changes in the strategy. The recent guidance is confusing and suggests low cash flow generation in the coming years.
Thanks for this. Sorry it didn't work out as planned. But I really appreciate your honest and transparent thoughts on what you were seeing at the time you bought and how it turned out. Sharing your struggles and thought process helps us all.
You are wrong on one part. Of course, he is held accountable. VW family holds a controlling position and can fire him. This is NOT a 100% free float company where the CEO brought his friends to the board.
I think the dual membership has advantages but of course one can have a different opinion about that.
I guess what I'm trying to say - from reading this post - is that the CEO gets a big salary increase while the company is performing poorly. In addition to that, management doesn't take part of the blame but puts all blame on external factors.
Yes, you are right, he is accountable, and he is not the sole responsable of the current situation. The controlling shareholder is in favor of this. I just have a different opinion.
What I'm trying to say is that:
a) there are rising concerns on this dual CEO position - take the example of one analyst clearly asking about this in the last earnings call
b) There are constant changes in strategy and downgrades of the outlooks
Last, I'm not seeing an alignment between shareholder returns and management compensation. Obviously, the controlling shareholder is in favor of the current structure, but shareholders loosing money while compensations increase makes little sense to me.
Thanks for this. Sorry it didn't work out as planned. But I really appreciate your honest and transparent thoughts on what you were seeing at the time you bought and how it turned out. Sharing your struggles and thought process helps us all.
Thank you!
Porsche is a sharp contrast to Ferrari today unfortunately. A CEO at two companies while not being held accountable just doesn't make sense
You are wrong on one part. Of course, he is held accountable. VW family holds a controlling position and can fire him. This is NOT a 100% free float company where the CEO brought his friends to the board.
I think the dual membership has advantages but of course one can have a different opinion about that.
I guess what I'm trying to say - from reading this post - is that the CEO gets a big salary increase while the company is performing poorly. In addition to that, management doesn't take part of the blame but puts all blame on external factors.
Yes, you are right, he is accountable, and he is not the sole responsable of the current situation. The controlling shareholder is in favor of this. I just have a different opinion.
What I'm trying to say is that:
a) there are rising concerns on this dual CEO position - take the example of one analyst clearly asking about this in the last earnings call
b) There are constant changes in strategy and downgrades of the outlooks
Last, I'm not seeing an alignment between shareholder returns and management compensation. Obviously, the controlling shareholder is in favor of the current structure, but shareholders loosing money while compensations increase makes little sense to me.