ARCHIVED FORUM -- March 2012 to February 2022READ ONLY FORUM
This is the second Archived Forum which was active between 1st March 2012 and 23rd February 2022
Sorry - the sentence above should have been:
'....between a 'failure' of closing the deal with the chinese investor and his leaving right now.
MM
There is a tv - and there is a BV
MM,
Never said anywhere that he was fired. On the contrary. This is of Tue's own hand. Clearly.
The question is why is he leaving?
He is either bored and needs a new challenge or the options open to him to fulfil his plans/dreams are limited in some way.
I know I can easily make my present company over $100M in additional revenue a year. The problem is that the company cant afford the $50M required for a new piece of equipment in order to do that. Banks nor investors are interested in the present climate despite the extra revenue to lend the money. Therefore if that is a key tenant of my plan, I either have to find an alternate way to make the revenues promised or know that my plan will never work and perhaps reconsider that broken promises way down the line in several years time may be a source of contention between me and my bosses.
Mr 10Percent:MM, Never said anywhere that he was fired. On the contrary. This is of Tue's own hand. Clearly. The question is why is he leaving? He is either bored and needs a new challenge or the options open to him to fulfil his plans/dreams are limited in some way. I know I can easily make my present company over $100M in additional revenue a year. The problem is that the company cant afford the $50M required for a new piece of equipment in order to do that. Banks nor investors are interested in the present climate despite the extra revenue to lend the money. Therefore if that is a key tenant of my plan, I either have to find an alternate way to make the revenues promised or know that my plan will never work and perhaps reconsider that broken promises way down the line in several years time may be a source of contention between me and my bosses.
Mr 10Percent: MM, Never said anywhere that he was fired. On the contrary. This is of Tue's own hand. Clearly. The question is why is he leaving? He is either bored and needs a new challenge or the options open to him to fulfil his plans/dreams are limited in some way.
Or he's pulling the eject levers and bailing out before the plane augurs in so he's not tainted too much by the crash. While I agree he had a difficult job, I don't think the massive loss of dealers, the spotty Play quality especially networking that tainted the brand (and their seeming inability to get their Chinese production under good QC for as long as they did), and selling off the only two profitable arms of the company is exactly a ringing endorsement of his tenure at B&O.
Jeff
I'm afraid I'm recovering from the BeoVirus.
No - I know!
We probably won't know for sure, what are the/his true reasons.
Yesterday - on the national tv = Danmarks Radio - it was mentioned shortly, that 'the plans for finding an investor for B&O did not succeeed and that now Tue had to leave the company'.
Not knowing more details (like Beoworlders do) it is very easy to bring these two events together - I had expected more/more research from a journalist from danish national tv :-(
Jeff: ...and selling off the only two profitable arms of the company is exactly a ringing endorsement of his tenure at B&O.
...and selling off the only two profitable arms of the company is exactly a ringing endorsement of his tenure at B&O.
Off-topic maybe, but I don't agree that selling off Automotive was a bad move.
On the contrary, I think they made a good deal (as far as someone outside can see).
The automotive market is huge (and will grow) and B&O would have had to invest a lot in order to keep up with the big guys.
Since this is not exactly core business for B&O, it is fine to let others invest ....
...and profit afterwards from the expertice, that B&O has.
Well guys, he's been there for 5 years and he's young. He probably wants another challenge. I'm like that, I move every two years at the most. Plus don't forget, he's got a young family and my God, it's incredibly important for a father to see his children and wife! So maybe, he's realised that he can't go any further with B&O and would like a better quality of life! There's an old proverb that says "Man risks his health for money, gets sick and then spends his money buying health'. Personally, I think that 5 years as a CEO is a long time.
Plus carer wise, you have to move on before something pulls down your CV!
Paul W: Plus carer wise, you have to move on before something pulls down your CV!
That's the way the ever upward brigade do it. Get a new job by boasting about the changes you made in the last one, make all sorts of changes that you can boast about in your new job.
Then p1ss off, before you have to live with the consequences
Regards Graham
I guess you have to in a way, if you leave once a company is truly financially destroyed, there would be no way that you'd get another job!
Paul W: I guess you have to in a way, if you leave once a company is truly financially destroyed, there would be no way that you'd get another job!
said Philip Green boardng his new yacht.
Nevermind, at least the company is healthier now than when he took over with nothing but a bright future ahead, he certainly steered it away from impending doom - well done I say and good luck in your future endeavours!
Ban boring signatures!
Totally agree with you Puncher! Tue made nice tasty lemonade out of a load of rotting lemons that were doomed for the bin!
BeoSystem 5500, BeoVision 10-46, BeoLab 8002Apple TVSamsung BD-D7500Wii
Duels: If you can't convince someone to invest £50m to produce £100m a year in revenue and therefore &£30-40m in margin, there is something wrong with the plan or you just aren't explaining it properly.
If you can't convince someone to invest £50m to produce £100m a year in revenue and therefore &£30-40m in margin, there is something wrong with the plan or you just aren't explaining it properly.
Well try it then.
A lot of businesses can show that borrowing $50m to make $100m is a good feasible plan. However, borrow $50,000 and default and its your problem. Default on $50m and its the Banks problem. Banks are risk adverse (of lending their money) by nature. Venture capitalist will back you....but then why when their haircut will leave you high and dry even if you are successful.
I thought Tue was a splendid chap - friendly and approachable and a good sense of humour. I wish him every success in the future. Completely biased admittedly as on my 50th birthday, he came and found me in the Struer hotel and gave me a birthday present. I was extremely touched.
Peter
wesheltonj:Not much left of the company, except a bunch of made in China crap.
Not really sure that's very fair. The BeoPlay products - on the whole - are decent. I absolutely love my A9. It seems to get better with age and is an all-round great speaker. Much prefer the audio from this than, say, my BL19s (with BL20).
Besides, the speaker range is decent and the BV11 can't really be faulted and will be improved this year.
Tue couldn't be a miracle-worker. I walk past my local B&O store at lunch, most days, and rarely see anyone in the store. The footfall must be very poor recently, meaning people aren't buying many regular B&O products, hence the push towards BeoPlay.
From a personal point of view, I think he has done a great job during difficult times, he has brought a youthful and dynamic image to the brand with the Play range and crowning glory has to be the Beolab 90. We have had loads of new products, compared to the past when it took forever for a new product to be released.
Anyway, I congratulate him on an excellent job and wish him well in his future career,
moxxey: wesheltonj:Not much left of the company, except a bunch of made in China crap. Much prefer the audio from this than, say, my BL19s (with BL20).
Much prefer the audio from this than, say, my BL19s (with BL20).
Do you men BL18 and BL19 Moxxey? If so then that is really quite a statement on behalf of the A9!
Arguably Tue has steered the company to produce the very best speakers on the market in both the high and low end price brackets, and much in between.
The problem that I have with CEO salaries in general is that they have now reached a point, relative to that of the 'Workforce', where it is really difficult to understand how any of them give value for money. And the same goes for McKinsey and similar consultancies brought in by CEOs who look for expensive outside advice (to blame when things don't work out).
Graham