Where should i start?
1. CEO has the Sidam touch to ruin a perfectly fine and flourishing company bringing it into ruins with his lack of management skills and vision
2. One after another bad decisions to ruin the company
- AHL acquisition costed 21million in cash. January 2015
- BillGuard acquisition costed 30 million in cash September 2015
- That is over 50 million in cash in a year when there are no large investors on the platform
- Spends millions on buildings and office spaces internationally
- Bad CTO hire
- COO that kept the company together is let go
- Blame the CBO for business not growing
- Bad CPO hire
3. Too arrogant to take others advice and too proud to ask for help from the dad and the other partner
4. Surrounds himself with people that praise him
5. Fires people that challenge or speak their mind
6. January 2016, CEO says the staff will double in BillGuard and May 2016 30% of the staff is laid off.
7. Hires more than 400 employees in 2015 to lay off bunch of them in 2016 - with no regard to employees or their families.
8. Sells shares ( worth millions) in secondary market for himself and doesn't let employees sell them.
9. Dysfunctional HR team. There is not an HR handbook. Policy against harassment is published 5 months after an incident.
10. Trying to cover up the incident and blaming the employees for management failure to set the right culture and tone for the employees.
11. If you are a friend of the CEO you are employed for life no matter how many complain against you or how bad the market is.
12. No long term vision on preparing the business for adverse conditions and shoots down people that suggest it.
13. All resources are dedicated to on-boarding banks which never do.
14. Zero trust on this management to make things better and take care of their employees. Leave the company and find one with a vision that respects the employees.
Another round of lay-offs is soon to come, be prepared.
