Form 8-K for ACCURAY INC
Change in Directors or Principal Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On November 16, 2012, Chris A. Raanes resigned from his position as Executive Vice President and Chief Operating Officer of Accuray Incorporated (the "Company") to pursue other interests. Mr. Raanes will receive severance benefits in accordance with the terms of his employment agreement with the Company, a copy of which is on file with the Commission.
First the CEO and now the COO....what the heck does that indicate to you guys? I do not believe for one moment that they left voluntarily!!! You don't get severance pay if you quit, do you? Not only did they suck this company dry of all profits but now I wonder if there isn't way more to the story than we are hearing! I'm sure it will all come out in the wash but I'm praying that we, as shareholders, don't see any possibility of recuping our losses wash down that same drain! As far as I am concerned, the BOD should be fired since they were not on top of the raping of this company's profits for literally years and a whole new board appointed. Why did it take them YEARS (!!!!!) to get rid of Thomson and Raanes? After all the shenanigans and loss of business opportunities to make the CyberKnife #1 when it was clearly making headway did it take this long to figure out that top management was only out to line their pockets??? Good riddance but probably too late for anyone here to make any kind of profit on their money.
Glad to see you still posting. You are 100% correct that these two charlatans were removed for reason...and at least three years too late. It was so incredibly obvious except to the board and a few posters here.
I think the company will be sold and at a price that will be unsatisfactory to long term holders. To think we were expecting profitability four years ago.
Wonder where PP is pumping now?
My thought is that Dr. Adler's best contribution to the company would be as a respected voice on the board and a consultant on technology and business issues. He has many valuable worldwide contacts in the medical community and his focus is on better treatment options for more patients which, in spite of many obstacles, will win in the end.
I am surprised there are not more comments from other posters. I such as you tmoore have been a long term investor in Aray watching and waiting for a return on my investment in this awesome technology. Perhaps we will see forward progress in shareholder value. Anyone going to the annual meeting? Lets see on Monday how the street will respond. There may have been strong input on large instituinal investors for change.....
I am very happy about this development. The two greatest offenders against share holders..the two men who cashed in option after option after option and never bought a share of the stock are gone...these two guys, regardless of skills, used this company as their personal piggy bank. They were both rewarded far beyond anything they earned.
Why do you get a severance when you resigned? I'll tell you why..he did not resign. He was removed as was Thompson. While I feel these dismissals were LONG overdue at least they have happened.
I sincerely feel that at least ET should be investigated for the enormous amount of money he took from the company. A clawback should happen but it won't. A jail term would be even better.
I have owned this company's stock for many years but am currently at my lowest level of ownership in many years. I still have a sneaky suspicion that there are negatives we are unaware of but may indeed learn soon enough. I doubt very much we will be profitable by next summer.
Having said all that I have to feel our long term outlook has improved. This was addition by subtraction. A buyout offer would not surprise me at all and as someone posted recently that may be the best solution for us.
Yup greggjohn..maybe we are at or near bottom. I certainly hope so. I may even buy a few shares...for the first time in years.
Good luck to you..and the rest of us too.