Excellent explanation of why the CFO left from Frank Monroe, our leader!!
To: David Carlisle (312 )
From: frank monroe
Mar 8 1997 12:18PM EST
Reply #315 of 315
To all: for what its worth my research has led me to the following conclusions about about the resignation of
George Hervey. After talking to some 20+ plus people about S3 CFO, many with direct access to S3
management team, I am backing away for my eariler reports of a power struggle and friction between Hervey
& Johnson. I now believe that the "real story" is pretty much as S3 press release reported, but with a few
behind the scenes twists. As reported by S3 Hervey forte as an CFO is with companies from start up to mid
stage growth, say 500 million in sales. I believe that it was long agreed that when S3 hit mid stage growth,
Hervey would leave and S3 would bring on a CFO that have expertise in mid stage growth (500 million to 1-2
billion). Another words Hervey was not the CFO for the next leg of S3 growth, both Hervey & Johnson
knew that and agreed with that. Its my understanding that, that had been the plan for sometime, maybe as early
as when Hervey joined S3. However, what may not of been expected was the exact timing. The deal with
Galileo came up, Hervey knew he was in the ball park of leaving, S3 being at mid stage growth level, and he
liked, no loved the Galileo deal. So it seem to be the right deal at the right time. S3 will now bring "on board"
a new CFO with a back ground & experience that is from companies at mid stage growth. I believe that they
are currently in talks with three people, all with back grounds in companies we all have heard of.
So my long term view remains positive for S3 and don't be to surprised that far in the future that Galileo & S3
are doing business in the networking business.
"Thats all Folks" |
