Why does this Reuters link show Babbich as the "Director" at Insys? Can anyone explain this? It shows Kapoor as the CEO, so must be up to date... http://mobile.reuters.com/finance/stocks/overview?symbol=INSY.OQ
Isn't that interesting. Dan, I thought you said MB was going to move and spend time with his family and move on to other ventures? I know, you were reading off of scripts and really had no idea what was going on. Rather, it appears as if MB is still heavily involved on some level which brings into question you and your role hear at Insys. How does it feel to be played by your superiors? To be put in as the new COO in title only, a figure head to show the world that Insys is changing it's ways. A good will gesture but, in reality, MB and the CEO are still at it and completely in control. You will have to execute exactly as they say, period. You have no freedom to exercise independent thought or decision making; you will be conflicted because of this so what do you do? This first series of cuts was sold as if you really did your due diligence, in short order figured out what moves needed to be made to create a better company for the long term. Those initial and most recent cuts eliminated those deemed to be a liability, no longer an asset. It was sold as if you had garnered the power to make this dynamic strategic decision and had showed the entire organization that the new COO had arrived with power to boot. But, isn't it true that you had absolutely very little to do with entire move, it was pre-planned and orchestrated for you by your superiors? A significant portion of your email on Monday was scripted and edited by others with you as the delivery vehicle. When looking at the needs of the organization, it's time for some one like you. There will be a lot of changes forthcoming due to the clever, if not brilliantly deviant, shenanigans finally being figured out in the medical community as a whole: pharmacists, insurers, patients, physicians, competitors, journalists and so on. With the approval rate out the IRC running efficiently why not hire as many reps as possible? And now, this needs to be cleaned up. You must meet EBITA objectives and the only way to do this, with flat scripts, is to cut. Regardless of what you call it, your superiors are in control of all of this and you are the delivery vehicle. Your "ah shucks" approach is welcome and much needed. You easily earn the trust of those around you just by your general demeanor and character which is why you were deemed a good fit for what is next. You and your superiors have a fiduciary responsibility to act in the best interests of the shareholders. And, let's not forget, that the stakes are that much more intense due the large short contingent hell bent on their negative income investment strategy. Did you know what you were getting into? And then we have been sold that you are the guy who will improve the culture, patients first, to do what's right, work hard, be clinically focused and have fun. What about the compensation MB is receiving as a Director? How would you address many of the representatives now hovering under $50K in annual earnings? How many reps could be paid commiserate with their experience and peer group with MB's compensation? How you think the vast majority of the company with react when they learn the MB is a director with that income level. Which brings up the current organizational structure. The recent realignments have been met with a lot of resistance as they did not make much sense. However, with your superiors in control it totally makes sense. To have Joe Rowan, Karen Hill and Tiffany Cromartie in leadership is a serious conflict. This type of decision would only come from your superiors whatever the reason may be.
Hate to be so cynical, but it kinda looks like a payoff. What exactly does a "Director" do? That's a pretty general title. His stepping down was played off as a complete cutting of ties with the company. Pretty deceitful.
. However, with your superiors in control it totally makes sense. To have Joe Rowan, Karen Hill and Tiffany Cromartie in leadership is a serious conflict. This type of decision would only come from your superiors whatever the reason may be.[/QUOTE] I noted that both Joe Rowan and Karen Hill were indicted, Has Tiffany Cromartie been indicted as well? Aren't these felony convictions? Thanks for the info on this -
