On December 7, 2012, James M. Karis resigned as Co-Chief Executive Officer of the Company effective December 31, 2012. Mr. Karis will continue to serve as a director of the Company and provide consulting services to the Company from time to time after the Termination Date.
James Karis was CEO of CLRX for less than a year. The guy was a consultant for a few years beforehand. I don't think this is as big of a deal as one would think. It's not like the guy had been at CollabRx that long or was a founder of the firm.
Clearly, CLRX has technology that Life Technologies finds valuable, otherwise they wouldn't have entered into an agreement...although we don't know how valuable that agreement will be over time.
I think CLRX needs to hire a strong Chief Operating Officer to really run this business...someone with a great track record, which Mika doesn't have. If there isn't any progress on boosting this management team further, shareholders should put pressure on the other Board members. Mika needs to be on a short leash given how much money he's lost for shareholders over time. He really has no business being CEO. I bet if you add up his compensation since his association with Tegal began, it's well north of the $7.0 million market capitalization of CLRX.
And, if he can't boost the stock price in short order, there are plenty of healthcare related Venture Capital firms who can take CLRX private...they would replace Mika in a second.
So, the loss of Karis isn't a big deal, frankly. But, CLRX needs a COO...ASAP!
Nice to see a third member to our little group. lzr123 and I have been bashing this company and Mika for years and years. Now you can be a management and investment genius just like us. Yank that leash hard, brother. And if you want to see how to really be good at it, just look at the hundreds of messages I've posted on this baby since 2000! I swear we are the best at it and we are not crazy at all. No sir, not stupid either. Just really, really smart and successful at everything we do, which is why we have so much time to post on this board. I'm so glad to have some company! So glad.............................so smart, really, ........really.