Larry, Larry, Larry,....There you go again!
I looked at the chart of IWRK, and it went public at 35 and was down to around 5 at the time that Mr. Wright came aboard, and about the same when he left 3 years later. So it doesn't look like he drove the stock into the ground during his tenure, as you would want to imply.
Why DO you want to imply that, Larry?
And what DID Mr. Wright do for IWRK? Consider again the Iwerks press release from a year ago, quoted by W. Sharp a few posts above:
"Dag Tellefsen, a Director of the Company since 1993, said, 'We are
extremely grateful to Roy Wright for the contributions he has made
over the last three years. Roy joined the Company at a difficult and
critical time in our history and his leadership was not only instrumental in successfully stabilizing and restructuring the Company, but he also led the Company into new markets and expanded our strategic alternatives while holding the Company to business fundamentals of a strong balance sheet and a focus on cash flow and earnings potential. Roy has also solidified our position in simulation with the pending merger with Showscan. The Board wishes to thank Roy for all his work during this period.'
Don Iwerks added, 'Roy has strengthened the Company's position in
the large format marketplace where we offer product alternatives
competitive with Imax's offerings. Roy's leadership in the acquisition
of Pioneer Technologies has allowed us to become the preeminent
provider in specialty projection systems.' "
As another poster pointed out, he came in to fix things at Iwerks (considered a 'turn around' artist), and was clearly credited with having done so. And his background does also include high-tech manufacturing, if you'd have been so kind as to read and then quote the rest of today's press release.
And you're awful quick to assume he was 'unemployed' for the last year, simply because you don't know what he was doing. Word was that he was involved with another startup, but even if he spent a year in the south of France, more power to him. Makes him hungry to tackle a new task: growing our company into a major manufacturer.
I for one am all for this hire. I'm a little surprised that you gave him only an 8 hour honeymoon, though. Kinda harsh and quick with the judgement today, Larry. Must be something else on your mind. |
