Ron Michels CEO has been in place for 3 years. Let's see what he and his leadership team have accomplished and if it is worth it.
Revenue $217M down to $134M (A 40?% reduction)
Gross Profit down from $76M to $8.3M (An 89% reduction)
EBITDA down from $16.9M to -$39.3M (A 333% reduction)
Gross Margin down from 35% to 6% (A 76% reduction)
Cash down from $100M to $24M (A 76% reduction) Without the stock offering they would be out of cash)
Ron makes about $500k per year plus all of stock grants.
His leadership team gets about $3M per year plus all of their stock grants.
The board of directors get an additional $400k per year for their advice. Plus their stock grants.
Ron has burned through $75M in cash plus the stock offering.
He has compensated himself and his team handsomely and the company is in worse shape than ever.
No new products, no new markets, no new technology. ILD and GaN are not new technologies.
The only thing that has increased is the bank accounts of the vampires that have sucked the blood from the working level people. They have paid themselves more than $10M in short term compensation over the last 3 years.
This is a disgusting example of poor leadership and greed.