CEO RK's Performance

I saw this on Yahoo's message board. Judge for yourself.


What a crock

Co awarded CEO an extra 60k bonus and the new CFO 65k. Although the Company did not grow its U.S. Urgent PC sales of at least 19 percent, the previously established Company financial performance goal for annual incentive compensation for the 2014 fiscal year, the Board decided to award the foregoing discretionary cash bonuses to the principal executive officer and principal financial officer in recognition of their individual performance, contributions, and service to the Company during the 2014 fiscal year, and in consideration of certain other factors. Such other factors include changes in executive management during the 2014 fiscal year, the modifications to the Company's sales execution strategy to focus on long term sustainable growth, four consecutive quarters of sequential growth for U.S. Urgent PC after several quarters of sequential decline, and a significant increase in the Company's value since filing of the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2013. I think the Board should all get replaced for this...really glad I do not own stock in this POS as they are going no where fast and spending money like a bunch of drunken sailers! Shame, Shame, Shame!

 

They seem to be fine with receiving bonuses of more than what many underlings even make in a year. But the support staff sees it all and is looking (other than sales), so eventually, there will be no one to run the household. Unless you're remodeling the household.

 

Quit your complaining please. Management had to restructure this business and in so doing, was able to turn this company around. Those of us that were part of that initiative, put in considerable hours to do so. We earned our keep and I suggest you go earn yours now by selling something and getting off this board

 

Considerable hours. I stab at thee. Lots of people put in considerable hours to support the restructure, and continue to do so. They've also earned far more than their 'keep.' But thank you again, sir, for your insight.

 

What do you think the rest of us were doing? We too have been busting off our butts, but we do not see bonuses or appreciation from RK. Let us face it - RK is looking out for RK, and if you do not believe that, I got swampland in Florida I can sell to you, branding it as prime property.

You must think we are fools and do not know what is going on!

 

As a matter of fact, yes I do think you are fools for thinking you have worked as hard as upper management. This company rewards based on effort, not tenure or amount of activity. Please understand, our compensation is tied to performance, not whining. I love this culture and the lifestyle it affords all of us. I do believe we have created something special here compared to the last leaders we had in both sales and at the top. Now go sell something please and be thankful you earn a good living

 

Puh-lease!! YOU are the fool! You're a fool for justifying this shame and greed. Is it an effort bonus or a performance bonus? Did he get Uroplasty their number? No. Perhaps with his bonus he can buy "effort meters" to put in the vehicles of the sales staff. That way when they don't hit their number, he can go to the old effort meter and see how much cash to send!! Lead by example, you don't hit your number don't dream up an "effort package". Nice try tho....FOOL.

 

Your days here are limited fella

 

More money for RK for a job well done!! Woopee!!

On May 29, 2014, Uroplasty, Inc. (“Uroplasty”) and Robert C. Kill, its President and Chief Executive Officer, entered into an amendment to Mr. Kill’s employment agreement with Uroplasty, dated July 22, 2013. The amendment to Mr. Kill’s employment agreement provides for the following, among other things:

· an increase in the percentage of Mr. Kill’s base salary comprising his targeted annual cash incentive compensation from 75% to 80%;

· an increase in the annual stipend to cover Mr. Kill’s personal life and disability insurance policies from $18,000 to $36,000; and

· that if Mr. Kill’s employment is terminated without cause, Mr. Kill will receive the full amount of his targeted annual cash incentive compensation rather than a pro rata amount based upon the date of termination.

 

He deserves every penny of it. Stop whining or you will understand very quickly what "expendable" means

 

Well that sounds quite threatening. Just another opportunity to increase the company's stellar image in the industry. Fine work.

 

This dictatorial response is a reflection of the tone at the top, and seems to have permeated deeper in the organization. Those of you offended by this style must be living in a cave or are dumb shit, for not having recognized until now this new company culture.

While this style is not conducive to team building, it is something on which you have no say. So if you do not like it, buster, I suggest you pack up and leave. Buh Buy, buster.

 

RK did not meet his goal, yet the Board gave him a bonus, citing other factors justifying a bonus. If I do not meet my goal, I doubt I would receive a bonus based on “other factors,” so why the special favor for RK?

In any case let us examine the special factors cited by the Board and understand if those factors justify a free ride to a bonus.

(1) Execution of the long term sales strategy
Guess what? This strategy was put in place by DH, long before RK took over, and was on its path to tenacious execution by the said DH. I am surprised RK got credit for something for which DH is fully deserving. Furthermore, it is dubious to currently say that the strategy is a success. What did this strategy produce: a 17 % growth in US Urgent PC sales for the year, short of the goal. And what was the growth in the year before RK took over: 35%. I will let you judge, if growth cut in half constitutes a successful strategy & execution.

(2) Sequential Sales growth in U.S. Urgent PC Sales
Under RK’s leadership we had four consecutive quarters of sequential growth for U.S. Urgent PC sales. Technically, that is a true statement. But do you know what the sequential growth was in the fourth quarter: a bare minimum of $0.1 million. You really have to be scrapping the barrel to find a reason to identify something so miniscule and consider it to be stellar performance deserving a bonus!!

(3) Increase in the Company’s Value
Yes, the stock price took a jump. But do you know what it is doing now after announcement of the fourth quarter results? After a jump in stock price subsequent to the announcement of the third quarter results, the stock price after the fourth quarter result announcement took a dive of about 30 to 35 percent, where it has been languishing lately. Does this mean RK has to turn back his bonus? Keep dreaming.

(4) Changes in executive management
Any time a new CEO is brought in, it is inevitable that he would want his own team. Nothing new with that. And RK and the Board should have known that that would be the case. So why consider this to be some kind of extraordinary performance deserving of a bonus?

These are just my thoughts and opinions. I will let you judge for yourself.

 

Just be pleased that the former leadership is gone. Big difference and more success to come

 

If success is to come, then the Board should wait for it before rewarding him. In that event, I am sure nobody will complain if reward is linked to success. The excuses they used to justify the current reward are flimsy.

 

Yes. We are still waiting for our June 1st merit increase and no word has come down from management as to what it is or what the guidelines are. Not a good example for RK to get his bonus and us not our merit increase

 

Quit bitchin’. You will be told when management is ready to do so. You are not to question management’s action but to do what you are asked to do. When asked to jump, ask how high, not why. You don’t like here then know that you are expendable. Got it! Now go sell something before you become a casualty and find yourself out on the street without a job.

 

Unfortunately I do not work in sales but at headquarters.

 

If you work at headquarters then what are you doing surfing the web at 4.09 pm. You should keep your nose to the grindstone (no deviation) during work hours. I am sure the all-powerful Ann R knows who you are and she will definitely carry water for RK. So decide if you want this job or want to be considered expendable.

 

I do web surfing all the time, smartphone, CPU and still do my job. In fact I had a most excellent review and my boss stated they will give me the highest merit increase available this year under the new guidelines. And have had 4 straight years of highest reviews and merit increases under the old system. Honest to gosh. But I guess I believe in a mans word. When the email went out about merits being effective June 1st, I took them at their word. I was raised on the principle of a mans word is his honer ( bond) by my dad. When he said it it got done and would do what he said. I do the same, when I say something or commit to something it gets done by such a date. What a shame management does not. That's is all I am trying to say