cat ceo resigned today..,
- Thread starter Hoosier
- Start date
bearrassler
Well-known member
I hadn't heard of any trouble, the stock price had fallen over the last couple of months though. I see they named Chris Twomey as interim CEO for now.
polarisrider1
New member
Stock down 10%. Death knell.
Thank god he is gone .
If I think who is up to bat gets the job cat will start tossing cash back in to racing and engineering.
and on a side note Resigned my ars.
this was a semi hasty board vote
just look at how it went down.
Twomey has forgotten more about the power sports industry than Mr home Depot ever knew or cared to know.
If I think who is up to bat gets the job cat will start tossing cash back in to racing and engineering.
and on a side note Resigned my ars.
this was a semi hasty board vote
just look at how it went down.
Twomey has forgotten more about the power sports industry than Mr home Depot ever knew or cared to know.
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Firecatguy
New member
that guy destroyed the company......lets kill a great Mtn sled program.....screw racing.....oh wait thats how we design and make sleds.......good riddance....
groomerdriver
New member
.....and he gets a $600K golden parachute to boot. Drag the value of the company down and still make lots of $$$. Only in America!
The parachute was nice but his salary this year exceeded 8 million dollars!
Not sure if it's fact but I read today that the Yamaha partnership has affected their earnings which in turn opened the door for these changes.
Still, 8 mil and a parachute. I would run, not walk to the nearest bank before they changed their mind.
Not sure if it's fact but I read today that the Yamaha partnership has affected their earnings which in turn opened the door for these changes.
Still, 8 mil and a parachute. I would run, not walk to the nearest bank before they changed their mind.
polarisrider1
New member
Whatever happened to a good old fashioned firing. Cat has to sell a lot of parts to get rid of that guy.
garyl62
Active member
Here is an interesting article about this. Points out some losses and some gains during his time, but also makes it clear he was cut loose. http://tcbmag.com/News/Recent-News/2014/May/Arctic-Cat-s-Stock-Plummets-As-CEO-Steps-Down
garyl62
Active member
Here is another story. Interesting to see the difference in the two about compensation and severance. Although the comp numbers seem to be related to stock options, still, wonder if there was some journalistic slant in one of these stories to make it seem higher or lower. http://tcbmag.com/News/Recent-News/2014/May/Arctic-Cat-s-Stock-Plummets-As-CEO-Steps-Down
I figured they didn't push the marketing as much at the end of the season since the 15's were already in dealer showrooms.
If you look at Cat's financials, they have all kinds of cash, no LT debt, very little ST debt. If they were short on cash, I doubt they would have launched as many different snowmobiles variations as they did for next year. If the Home Depot guy was focused on cost cutting, I can see them cutting back on marketing.
My guess is this guy didn't have a clue how to grow market share in any segment or where to make investments.
Also will be interesting to see if new CEO embraces Yamaha OEM Agreement? Change at top can strangle OEM realtionships with a stroke of a pen & a gaggle of lawyers. Of course he would be faced with huge revenue shortfall moving away from Yamaha not the smartest thing coming in but the board knows what they want. It will be interesting to see who they appoint.