Ruminations on the electronics industry from David Manners, Senior Components Editor on Electronics Weekly.
Ed Gets An Influx Of CEOs
‘The Brats are on the phone today,’ Ed tells his diary, referring to the 20-something year-old, super-sharpies who monitor his company for its private equity owners.
‘”We’re going to beef up your team ahead of the IPO,” A Brat tells me, “we have a number of people we want you to take on board”.’
‘The Brat proceeds to read a list of names. About six of them. Some of whom I seem to have heard of.’
‘”Who are these guys?” I ask The Brat.’
‘”They’ve all been CEOs of companies,” replies The Brat, “they’ve all been associated with our company in one way or another for some years, and they all have credibility within the financial community. Having them at the pre-IPO roadshow, or to take calls from investors before the IPO, will look good and create confidence. Besides which they might energise your company – where it needs energising”.’
‘Ignoring the veiled threat I ask The Brat: “Who do they report to?”‘
‘”To us, of course,” replies The Brat, ‘unless it’s about some internal operational matter they’ve got involved in within your organisation when they report to you”.’
‘Bugger, bugger, bugger but what can I do?’ Ed confides to his diary, ‘roll on my $25 mill.’Tags: confidence, influx, investors, list of names, veiled threat