06:20 ET Sapient consolidates CEO role (SAPE) 5.46 :Co announces that Stuart Moore will no longer serve as co-CEO. Since co-founding Sapient, Moore and Jerry Greenberg have been the co's co-CEOs and co-chairmen. Greenberg will continue to serve as CEO and they will both continue as co-chairmen.
I guess we have our answer regarding commitment. Sounds like Stuart wants to remain a big boy by staying on the board of directors but is going to "enjoy" himself now. Don't get me wrong, GOOD FOR HIM!... and GOOD FOR THE COMPANY!....
As for the press release.. they state:
In a statement, Moore said he is stepping down as co-CEO "to clarify leadership accountability."
Now, as for all of this stupidity and talk of close mindedness... there needs to actually be a statement / reason / idea before there can be open mindedness... all you guys so pro-SAPE have done is say.. "great time to buy... see you on the other side"... again, how about putting some reasoning behind your statements. Why do you think so? THAT is what this board is all about.
interesting thing is that they have spent considerable amount of money to buy back the stock and yet, it is still going down. i guess, bad timing yet again.
PE at 15? is that forward or trailing? I don't think they necessarily have to go down that low BUT in order to stop the bleeding, they have to show results pretty quickly. in other words, this quarter. if not, i wouldn't be surprised if you see that pe = 15 on forward looking.
i think that a gesture of commitment from the leadership would be for each of jerry, stuart, sheeroy, Cooke, all SVPs, EVPs, etc each put in $10MM to buying stock right now. THAT would show skin in the game and a commitment to making it work. as it stands, they are all fat cats showing their friends their business cards, braging how high they are in the organization.
xs_xsr - say something sensible or get lost. Jerry can drive execution well and that's where this change comes in. Sapient's basics were never in question - they have the right platform to launch, they just need good execution.