Good recent Reuters article on Bayer and Dekkers. How could the TMO Board of Directors ever let a CEO of Dekkers caliber get away? Does anybody know the inside story?
At about the same time he left his #1 finance guy was getting a divorce for an extra-marital affair with another executive that his number #2 guy who is now ceo hired to get more high profile females into the company. Looks like affirmative action does work. Great bunch of ethical guys.
Major < fisher's biggest problem is apparently just recently starting to be addressed which is needing to recruit board members with broader big business experience---its not that important what the cfo is doing outside work for extracurriculars>>>when dekkers resigned, no one on the post merger b.o.d. Had any broad big business experience. This was a rather embarrassing and quite a large problem as dekkers built the company into a powerhouse>>>> and the b.o.d. Was just cruising along for the ride until the betrayal happened and dekkers bolted>.
Yes Churchill. I read your earlier post, and already understand what was accomplished during the Dekkers [ reign ] as you British like to refer to it. Decent start in 2011 for TMO. But, if its true what you say about an act of betrayal, the TMO Board made an awful bad blunder - just look at Bayer's stock performance under Dekkers so far.
Truth Seeker, read my earlier posting for answer to your question. Setting strategic direction and achieving the financials and integrating the acquisitions were all accomplished during Dekkers reign. Now we turn our attention toward the Kate Middleton and Prince William reign. Cheers.
Hello Sir Winston Ghost- I am curious. Can you be more specific about what you mean by saying Dekkers and the others were betrayed? Was an agreed to strategic direction reversed? Another acquisition denied? A financial promise not delivered? Other?
Beg Of Your Pardon Tatensolo, But, You Really Are Rather Quite Misinformed On The Facts Of The Matter. It Is Not The Point That Montrone, Meister And Dekkers Are Extremely Rich And Competent Business Men-That Is An Easily Obtainable Public Fact. You Are Missing The Point Completely That The Betrayal Resulted In The Exit Of These Talented Chaps.
Churchill is wrong. No betrayal. Montrone never intended to be involved with TMO. He wanted to cash out and retire. Meister did not want to remain with TMO either but they both wanted to ensure the merger was a success. Meister agreed to be Chairman and keep an eye on progress. Early on it became clear that Dekkers had it going. Meister stepped down as Chairman at the first opportunity. Montone and Meister started their own private equity firm (Liberty Lane Partners). Meister is now CEO of inVentiv Health a company that LLP together with TH Lee took private last year. Montrone, Meister and Dekkers are all extremely rich and extremely competent business men. Believe me, I have worked with all of them.
TMO has never paid a dividend. I do not remember the name of the former TMO Chairman, but he was the former CFO of Lotus who was fired by the IBM CEO, Lou Gerstner, after IBM acquired Lotus. Cheers.