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Management

Sharp Cuts CEO After Two Years of Losses; Company Scaling Back LCD Div Significantly

August 1, 2024 by Ted Leave a Comment

Sharp display at a trade show
REUTERS/Toru Hanai/File Photo

Remember: Sharp Manufactures Onkyo, Integra, Pioneer & Elite

Sharp Corporation, part of top Apple supplier Foxconn, saw its annual shareholders meeting turn contentious this year as investors are frustrated with management after the company has turned in two years of significant net losses. Perhaps to help mollify investors, the company announced its President and CEO, Robert Wu, has stepped down from his role at the company. Sharp also announced it is scaling back its struggling LCD business.

See more on troubles at Sharp

[Read more…] about Sharp Cuts CEO After Two Years of Losses; Company Scaling Back LCD Div Significantly

Filed Under: Feature, Financial, Management, Manufacturers Tagged With: Sharp

Voxx Fiscal 2024 Annual Shareholders Meeting – More Restructuring, Disposal of Brands Ahead

July 25, 2024 by Ted Leave a Comment

Investor Relations page on Voxx website

On Tuesday, Voxx International Corporation (Nasdaq: VOXX) held its annual shareholders meeting, closing out a tough Fiscal 2024 with declining sales (down 12.2%) and deepening net losses (up over 53%). Sounding a little defensive, Ari M. Shalam, the company’s Co-Vice Chairman of the Board and son of company founder John J. Shalam, promised investors more restructuring and said the company will shed assets, including some of its previous brand acquisitions, to generate cash to lower debt and prepare the company for healthier growth ahead.

See more on the remarkable Voxx Annual Shareholders Meeting

[Read more…] about Voxx Fiscal 2024 Annual Shareholders Meeting – More Restructuring, Disposal of Brands Ahead

Filed Under: Financial, Management, Manufacturers, News Tagged With: Ari Shalam, Pat Lavelle, Voxx

Politan Reveals Masimo Lawsuit To All Investors; Says It’s Desperate & Defamatory

July 24, 2024 by Ted 2 Comments

Image of Masimo v. Politan lawsuit title page

Masimo: ‘Confidential Informants’ Allege Koffey Has Breached His Fiduciary Duties as a Director

Almost exactly one week ago, Masimo and its Board of Directors filed a lawsuit against Politan Capital Management in which it alleged Politan’s proxy materials contained material misrepresentations and asked the court to order the activist investor to correct them. The company also delayed its upcoming annual stockholders meeting from July to September. Two days after that, Politan responded with a countersuit in which it asked the court to order Masimo to hold its 2024 Annual Meeting of Stockholders as soon as possible.

Now Politan has taken the unusual step of publishing Masimo’s lawsuit against them and providing it to all Masimo stockholders. The Masimo suit, which has some outrageous claims against Politan and particularly CIO Quentin Koffey, is being provided by a confident Koffey who believes investors will see it for what he says it is…a desperate attempt to stop the investor vote for independent directors.

See more on Politan publishing the Masimo lawsuit against it

[Read more…] about Politan Reveals Masimo Lawsuit To All Investors; Says It’s Desperate & Defamatory

Filed Under: Feature, Management, Manufacturers, Strategy Tagged With: Joe Kiani, Masimo, Politan Capital Management, proxy battle, Quentin Koffey, Sound United

With Week 3 of Strike About to Begin, Samsung Management Says, Let’s Talk

July 22, 2024 by Ted Leave a Comment

NSEU leaders say worker participation has only increased as strike enters third week [Click to enlarge]

As I’ve been reporting, Samsung’s largest union, the 30,000+ member strong National Samsung Electronics Union (NSEU), has launched a strike against one of the largest employers in all of South Korea. This is not a common occurrence anywhere in Asia, and it is the first major strike Samsung has ever experienced.

Now, after two weeks of continuous work stoppage, Samsung management finally indicated to the union that it was interested in restarting the negotiations – a big win for union leaders.

See more on the first-ever union-directed work stoppage at Samsung

[Read more…] about With Week 3 of Strike About to Begin, Samsung Management Says, Let’s Talk

Filed Under: Asian Connection, Management, Manufacturers, News, Strategy Tagged With: labor, NSEU, Samsung Electronics, Strike

Savant Names Bryce Judd as CRO for Installed Smart Home & Power Biz

July 18, 2024 by Ted Leave a Comment

Savant website image

Savant Systems, Inc. today announced that it has named Bryce Judd as its Chief Revenue Officer (CRO) for the professionally installed smart home solutions and Savant Power business units. You may recognize that name as Bryce was head of sales for Control4 from 2016-2020.

Learn more about Bryce Judd at Savant

[Read more…] about Savant Names Bryce Judd as CRO for Installed Smart Home & Power Biz

Filed Under: Management, Manufacturers, News, People, Sales Tagged With: Bryce Judd, Savant

Politan Returns Fire; Files Countersuit Against Masimo & Directors in Delaware

July 18, 2024 by Ted 2 Comments

Politan investor presentation cover slide
Cover slide to Politan’s investor presentation

Claims Company is Violating Its Own Bylaws & Delaware Law

On Tuesday, I told you that Joe Kiani and Masimo Directors filed a lawsuit against Politan Capital Management and Quentin Koffey, asking the courts to force Poltian to correct what it claims are material misrepresentations in Politan’s proxy materials provided to Masimo stockholders. Late Wednesday, Politan returned fire, filing its own countersuit – but in a much more strategic way…

See more on Politan countersuing Masimo

[Read more…] about Politan Returns Fire; Files Countersuit Against Masimo & Directors in Delaware

Filed Under: Feature, Management, Manufacturers, News, Strategy Tagged With: Joe Kiani, Masimo, Politan Capital Management, proxy battle, Quentin Koffey

Samsung Strike Suddenly Gets Serious

July 17, 2024 by Ted Leave a Comment

The main union at Samsung, the NSEU, held a strike at a production facility
A union-staged event in front of a Samsung facility in the rain. Look past the signs to get a sense of the thousands of union members who participated in the strike [Click to enlarge]

The relationship between Samsung and its largest union is rapidly deteriorating and suddenly, a strike called by the union initially more for show than impact, has turned very serious. That means that as the union progresses its tactics, the impact on production is likely to quickly reach the point that it will be felt by the company and all of its customers.

See more on the escalating strike at Samsung

[Read more…] about Samsung Strike Suddenly Gets Serious

Filed Under: Asian Connection, Management, Manufacturers, News, Strategy Tagged With: labor, NSEU, Samsung Electronics, Strike

On the Defensive, Kiani & Masimo’s Claws Come Out; Postpones Annual Meeting & Sues Politan

July 16, 2024 by Ted Leave a Comment

Masimo Sues Politan image

Company Chooses to Delay Annual Stockholders Meeting & Set New Record Date

Masimo Corporation (Nasdaq: Masi) announced on Tuesday that it has filed a lawsuit in Federal Court in California against Politan Capital Management and CIO Quentin Koffey, asking the court for an injunction to force Politan “to correct material misstatements and omissions”…in its “proxy materials.” It also says it has set a new date for its 2024 Annual Meeting of Stockholders, with a new record date, “to ensure that the vote of the Company’s stockholders is fair and fully informed.” That move is clearly in reaction to evidence uncovered by Politan of a legal but ethically questionable move called “empty voting” in an apparent attempt by an individual who is a friend of Joe Kiani to swing the vote in management’s favor – a move that Politan says would disenfranchise investors who voted.

See the latest outburst of filings and accusations between Masimo & Politan

[Read more…] about On the Defensive, Kiani & Masimo’s Claws Come Out; Postpones Annual Meeting & Sues Politan

Filed Under: Feature, Management, Manufacturers, News, Strategy Tagged With: Joe Kiani, Masimo, Politan Capital Management, proxy battle, Quentin Koffey

Masimo Releases Prelim Results for Fiscal 2024 Q2; A Tale of Two Companies

July 11, 2024 by Ted Leave a Comment

Masimo preliminary report cover image

In other Masimo Corporation (Nasdaq: MASI) news this week (other than its raging proxy war, that is), the company released its Fiscal 2024 second-quarter revenue performance, and results were quite mixed between its two major divisions – Masimo Healthcare & Masimo Non-Healthcare (aka Masimo Consumer, the Sound United business). The company doesn’t always release preliminary data, but when they do it is typically just a few top-line numbers.

But this particular preliminary report was surprising for the amazing lack of information offered on its Consumer business unit results.

See more on this Masimo Preliminary report for Q2 of Fiscal 2024

[Read more…] about Masimo Releases Prelim Results for Fiscal 2024 Q2; A Tale of Two Companies

Filed Under: Financial, Management, Manufacturers Tagged With: Masimo, Sound United

More Messy Masimo Madness

July 10, 2024 by Ted 4 Comments

All Employees Threaten to Quit (Or Did They?); Politan Calls Out Voting Irregularities; JV Partner Proposes Price for Sound United

Every day brings us closer to the Masimo 2024 Annual Meeting of Stockholders scheduled for July 25th…and virtually every day also brings us more Masimo madness. The proxy war for two seats on the Board of Directors being fought between the company management and activist investor Politan Capital Management continues to heat up. Consequently, we learn new things every week, some of which can be disturbing. This week is no exception as we discover: 1) the company publishes letters from employees that suggest they may all quit; 2) the Joint Venture Partner interested in buying a majority stake in Sound United has offered terms that specify a price range it is willing to pay; and 3) Politan has filed paperwork with the SEC that includes a letter to the Masimo Board of Directors claiming it has detected voting irregularities known as “empty voting.”

See this latest installment of the battle for Masimo…

[Read more…] about More Messy Masimo Madness

Filed Under: Management, Manufacturers, Strategy Tagged With: Joe Kiani, Masimo, Politan Capital Management, proxy, Quentin Koffey, Sound United

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Ted Green Bio

A former dealer, manufacturer, distributor & more. Focusing on business strategy, my goal is to help you make better decisions for greater success.

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