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Boardroom intrigue

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Boardroom intrigue · Internal memos

Former Campbells Soup employee releases wild tape of company vice president

by LewDiscuss

A former employee is suing Campbell’s (of soup) for wrongful termination after he was allegedly fired for reporting his boss’s wild rant in which he says the company makes “bioengineered meat for poor people.” The fired employee has released audio of Campbell’s Vice President and Chief Information Security Officer Martin Bally making the statements as well as calling the company’s Indian employees idiots who “couldn’t think for their fucking selves.”

We’re trying to get ahold of the full audio, which reportedly goes on for over an hour (!). In the meantime, here is the story by a local Detroit station:


(Archive)

Case information: 25-018465-CD (Garza v. Campbell Soup Company)

Filed underCampbell's
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Boardroom intrigue · Management

Intuit’s Sasan Goodarzi makes the post-earnings rounds dressed like Rocky Balboa

by LewDiscuss

Intuit quarterly results are in and they’re good enough where CEO Sasan Goodarzi fels confident enough to wear the most insane outfit we’ve seen in a long time in a CNBC interview. The most baffling part of the twelve minute interview is the fact that at no point did Jon Fortt ask “why the hell are you dressed like that?”

Intuit CEO Sasan Goodarzi

Sasan Rocky

 

Filed underIntuitJon ForttSasan Goodarzi
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Boardroom intrigue

Super Micro threatened with Nasdaq de-listing

by Lew1 comment

Knives falls fast. Last night Super Micro was notified that it faces Nasdaq de-listing if it does not submit a “compliance plan.” That should be easy, they can just tack it on to the earnings report that they must be furiously working on with their brand new auditor…

Source · Muslim Farooque, Yahoo Finance
Super Micro Shares Plummet as Nasdaq Delisting Looms
Filed underSuper Micro
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Boardroom intrigue

Is Zeta Global using weaselly language to play up its revenue retention expectations?

by LewDiscuss

Lauren Balik has been looking into digital media company Zeta Global lately with posts about their election data and irregularities surrounding their “AI” play.

Now she’s back with an overview of how the company uses weaselly language “in order to cook revenue guidance.” She makes a very good case that the company is creatively downplaying political ad spending during an election year (because political ads are inherently cyclical revenue) and portraying it as general ad spending to juice its net revenue retention numbers.

The company is using the phrase “political candidate revenue” as a way of “rolling up advocacy revenue (PACs, special interests groups, anything not directly a politician’s campaign itself, etc.) into the ‘non-political’ line in their guidance.”

Filed underZeta Global
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Boardroom intrigue

A boardroom shakeup is the latest battle in the war between Klarna co-founders

by LewDiscuss

Buy now, pay later company Klarna was founded nearly twenty years ago by Victor Jacobsson and Sebastian Siemiatkowski. A decade ago, that partnership presumably ended when Jacobsson left the company. According to the Financial Times, he has been a “thorn in the side of Siemiatkowski ever since.”

Now one of Jacobsson’s key allies, Mikael Walther, has been removed from the board by a shareholder vote of over 87%. In a statement, Walther had this to say: “A majority of those present at the general meeting have decided that I shall leave the board. As a result, there will be one fewer independent voice in the boardroom.”

Independent voices or not, this has apparently cemented CEO Siemiatkowski’s control of the board as it prepares for an IPO.

Financial Times:
Klarna board decides to oust co-founder’s key ally in latest power tussle
Wall Street Journal:
Klarna Shareholders Vote to Remove Mikael Walther From Board
Filed underKlarnaSebastian SiemiatkowskiVictor Jacobsson
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