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Skullcandy, Inc. (SKUL) Message Board

  • penderbender@ymail.com penderbender Jun 18, 2013 9:22 AM Flag

    Goodbye Wescoat

    He resigned but will stay with the company through September 2013. Check the June 18 press release on the SKUL website for the full details.

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    • spotifyjim@hotmail.co.uk spotifyjim Jun 18, 2013 1:02 PM Flag

      Westcoat never impressed on earnings calls so I think this is positive. Just scanned the release but looks like they've also promoted someone inhouse to Chief Operations. New CEO is getting his A team together.

      They're also closing down their San Clemente office and relocatiing everything to the Park City office. Having the main team all working under the same roof is usually a good thing IMO. There will be some associated charge for this move in Q2 but it will hopefully reduce SGA in the long run which is one of this company's problems. Overall looks like good moves being made by the new CEO to set the turnaround wheels in motion.

      • 2 Replies to spotifyjim
      • I assume now that Wescoat worked out of the California office, so makes sense as he would leave at his age instead of moving his family to Utah. The guy isn't very impressive. Seems too old and out of touch and a terrible speaker. He does not impress analysts. I've always wondered why Skullcandy had 2 offices so this makes sense to consolidate them. My only guess is that Andrus wanted a sweet place to party in Southern California. Will be nice to save on that rent. I can't recall how much it was off the top of my head but I remember seeing the number before and being a little shocked by this. Also with travel expenses and wasted productivity from travel back and forth its the right move. Normally with a stock trading at historic lows a CFO resigning is a huge jolt and the stock will crash but the fact that it was basically unchanged is a huge bullish sign. I think the only way from here will be up.

      • penderbender@ymail.com penderbender Jun 18, 2013 3:12 PM Flag

        I absolutely agree... Wescoat was definitely underwhelming, especially after all the praise he was getting at the time of his hiring.

 
SKUL
9.13+0.19(+2.13%)Dec 26 4:00 PMEST

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