Resignation of Chief Executive Officer, President and Director On May 12, 2008, the Board of Directors accepted the resignation of Diane S. Goostree as the Company's Chief Executive Officer and President and as a director on the Company's Board of Directors. Ms. Goostree's resignation did not result from any disagreement with the Company or its Board of Directors. The Company and Ms. Goostree are currently negotiating the terms of a Separation Agreement and General Release. Item 9.01. Financial Statements and Exhibits.
Should be interesting tomorrow to see what the stock does. The numbers were horrible, much worse than I expected. 1.7 million after 12 months in the market is just hopeless. I don't know that Gooosetree leaving is going to balance that out from a stock value point of view but we shall see. I can say that listening to Reinhart is a huge improvement over Gossetree. He just sound more confident and frankly more knowledgeable.
Separation agreements should read "Keep your options. They represent the value you created for investors...now get out!"
General release agreement should read "Feel free to go work for any competitor. In fact, please do...it may prove to be the only way that you have ever had a positive effect on ARTE gaining more marketshare."