GoPro is so bad it’s now apparently impolite to discuss management candidly. Nick Woodman, proud legacy member of the SV CEO High School took home $284 million in 2014. He cashed out in the IPO and took out more when he and his wife, Jill, exploited a loophole in the GoPro IPO terms to dump over $300 million in shares via a foundation to fund causes TBD.
90% of the shares sold in GoPro’s secondary offering came from insiders. They got $72.38 a share, about 9x higher than where the shares are 14 months later.
Woodman is the affable face of executive incompetence. If you aren’t going to be critical of him you should simply not do financial commentary. Martin Shkreli didn’t cost you any money but he’s an easy target. GoPro and Yahoo are investment death pits run by a Ty Webb and Regina George. Guess which exec is getting pounded today?
On Christmas Eve I did a piece on why CEO behavior matters. I focused on GoPro and Yahoo.
I’m not sure if the piece is rude. I’m certain it was correct. Yahoo and GoPro have dropped 18% and 50%, respectively since I recorded it. I work for you. I take it very personally but criticisms aren’t necessarily personal. It’s business. I think executives matter to your investments so I talk about them, good and bad.
Being CEO of a public company means answering to the public. That’s why they get the big money. If execs can’t take the heat they should take different jobs. I’m going to keep doing mine.If you enjoy the content at iBankCoin, please follow us on Twitter