I was sad to hear that Werner Bush passed away from a heart attack earlier in the week. It was nice to see that he had his supporters as he was a great friend of mine. I heart goes out to his family and friends during this time.
I'm usually not so late to the party but my internet was down.
I worked for your father and have many fond memories. Especially of his dedication to Ferro, his love for his family, his kindness and his sense of humor.
He told me that his door was always open to me, and it was. He got me the medical attention I needed and it saved my life.
You have every right to be proud of your father, he was a very fine man. I will miss him.
Please give my regards to your mother.
Mary S. Debro
I said God Bless your father and I meant it. I would also like to wish the very best to all the employees and retirees and anyone who is depending on the pension when they retire.
There are black and white statements out here that are simply not true. I think the people posting are gainfully employed and some might even be C level executives.
I would vanquish the language of top and bottom employees at Ferro. It is that type of classification and disdain that became hallmarks of the last 10 years at the company.
Gabriel, maybe you are not aware that often people who posted on this site were terminated simply for posting and one must agree that opposing your father in public whether your opinion was right or wrong was career suicide.
I have kept in touch with many ex employees and they are doing just fine, thank you. They are making more money and working in very functional organizations.
I hope the best for this company that I am still proud to have on my resume and I wish for a joyful and long life for the family of Mr. Ortino and all those associated with company.
Merry Christmas and have a happy New Year.
This company on track is a 35 dollar stock like it used to be. Buy now sell later.
To the Ortino family, my deepest sympathy. I worked for Hector and he was tough but gave me opportunities that I would never have had elsewhere.
This website is truly about financial issues and those of you who denigrate this man after his death should be ashamed.
The board could have chosen Bush but didn't for a variety of reasons. Mostly, I believe, because they were tired of the slow pace of change and business as usual in the major divisions, Frit, Color, Vedoc and Chemicals. Those divisions were filled with incompetent GM's and managers who were stuck in 1960-1970 business practices. Most of the long termers in coatings and chemicals were a joke. Many of them are still there or recently retired and prayed every day that they wouldn't get the ax because they were unemployable in the outside world. If you look at all the long timers who left Frit, Vedoc, Color or chemicals in the 1990's-2000 not one of them landed in an equal role. Also, those managers who thought that some SAP training was a ticket to riches got a rude awakening when they sent resumes out or got interviews. The good old boys at Ferro were 20 years behind the times!
Hector was a very good CFO. He made the divisions look at things like inventory and cash flow.
The data center, which was under Hector's rule, had far better people in it. In fact, I know through my contacts that all of the business analysts, business managers and other younger color-coatings and chemical managers are quite successfull and far surpassed the losers they left behind.
Hector did not trust anyone and that is the shame of it. He needed to go below the people on his staff who were basically good managers and get to the GM's and middle managers who clogged up the pipeline and forced the younger managers to get fed up and leave. The real downfall of Ferro is the lack of innovation and technology management due to division management incompetence. Implementing SAP with people who have no real technology or supply chain training is lipsticking a pig!
Let's hope that the new CEO sees that the failure to weed out the "hanger oner's" is just as important as a new board. I spent a lot of years at Ferro as an employee and consultant and want this company back on track!
So what are the first 5 things that Mr Kirsh has to do to right the ship. Scrap the matrix management system and make business managers responsible for the business. Push new technology. Expand where the markets are moving to. Cut unprofitable businesses or at the very least change the upper management.
I believe he needs to put a new face on Ferro and mold it into a the most responsive speciality chemical company in the sector. He needs a clear vision of what Ferro needs to be and move forward with great speed.
I want to add my positive response to your remarks, some of which I tried to express in my original remarks under "In Fairness". I too don't ever question that Hector was undoubtedly a great and loving invididual in his personal life. IMO, it would be difficult for anyone's immediate family members (including my own) to understand that a person's corporate personna can be entirely different -- the opposite even -- from their personal life. Please accept sincere condolences on your personal loss. It is unusual for corporate and personal matters to become thusly mixed on a financial commentary board, which is unfortunate, but it is what it is.
Dear Gabriela, please understand that this message board is full of a lot of people who have had a close association with Ferro. I don't think anyone on the message board ever wanted to wish your father ill health. I am also sure that he was a wonderful man to his family and we all know he was a dedicated Ferro employee.
This message board acts as a sounding board for those who live in that corporate world. Many of the people that write these messages have had past associations with your father. You are also right in saying that most of them will never have had to make the decision your father had to make. Whether you want to believe it or not your father was a very difficult man to work with. If anyone disagreed with him, whether they were right or wrong they were going to be punished. Thus, the people that had idea where beaten down and only the yes men survived. The stock suffered because on non growth and people who are visiting here typically have a vested interest. While he got fat on big bonuses the people who worked for him and the investors saw very small gains.
Again, We are sorry for his passing but not for his leaving Ferro. The market obviously agrees.