Teo may be pissed, but that's because Hack has him by the balls!! 13% ownership has not given Teo the leverage to removed Hackman so the Hack can still call the shots. Teo needs allies on the BOD but so far Hack appears to maintain control. Hack will leave when he's good and ready; Alfred Teo will have little to say about that despite his $100M investment in CRUS.
I am not writing this to antagonize you but I believe that your statements are completely groundless. We are in the middle of a restructuring which represents a complete reversal of Hackworth's strategic vision. This restructuring has produced encouraging results already although the large, important pieces have not been resolved yet (fabs). Hackworth has been marginalized by Teo/French and there is nothing to be immediately gained by a crude dismissal of him at this time. Things rarely work that way in the corporate level. A more realistic scenario is the completion of the restructuring with Cirrus either being sold, merged or turned profitable and only then will Hackworth "retire" with a glowing press release thanking him for his years of service and solid management during troubled times.
Teo is in business to make money - not to execute his or our childish grudge. He will make money by turning this company around. Wall Street will not reward the company for firing Hackworth. The important thing is that he can do no harm.
Well Said! Hackworth is no longer the problem. French/Teo are the solution! I'd like to remind everyone that Mr. Teo has been buying CRUS shares consistently over the last 18 MONTHS to the tune of well over $100 mil. He's not "dabbling" with CRUS. This is a long-term, major deal for him and we need to be patient and see what the coming year brings. I've stuck by CRUS ever since I found out Mr. Teo was a major shareholder and was buying steadily. I'm sitting on a decent profit now (ave. is $9.67) and I'll hang in until these fundamentals change.