Also, a new CEO in the 1st quarter.
My apologies, as this statement was made partially in error. Rob Cain was brought in during Q1, 2013. A new VP of Glogal Operations recently entered the picture. Here is a post that I made this morning on the Rule Breakers board addressing turnover of executive management.
Is new management part of a sea change for ADEP?
Within the last 15 months there has been significant executive turnover at Adept Technologies:
- Rob Cain in as President (Feb. 2013) and CEO; John Dulchinos out (also off the Board)
2)Seth Halio in as CFO (Oct. 3, 2013) replacing Michael Schradle who resigned in July.
- John Villadsen in as Vice President of Global Operations (Apr. 2014)
During earnings calls, Cain continues to stress value, margin improvement, sales/msrket/service synergy development and focus on the bottom line.
Of Villadsen, Cain says, "“John Villadsen comes to Adept with more than 20 years of experience managing companies’ operations, establishing global supply chains, and implementing lean practices worldwide,” said Rob Cain, Adept president and CEO. “He is a hands-on leader focused on profitability and scalability. We welcome him to the Adept team and look forward to benefitting from his contributions and insight.”
Looking at employee comments at Glassdoor.com (http://www.glassdoor.com/Reviews/Adept-Technology-Reviews-E4…), these moves seem to address some of the most critical ones, such as:
“Excellent Product Development but Need Better Alignment of Marketing and Sales Strategy”
Advice to Senior Management – To have stronger Strategic Marketing and Business Development teams to effectively drive corporate goals and align them better with sales strategy in order to grow.
“Problematic Leadership with Select Good People Keeping Company Afloat”
Cons – There was no succession plans. They tend to hire outside the company vs. promote within. Always cash starved. It felt that we would live and die by the latest sale. The management seemed very dysfunctional since 2008.
Advice to Senior Management – Management has since changed, so hopefully they are working on retaining their good talent.
“Being an employee was like being in a toxic, dependent relationship that’s going nowhere.”
Advice to Senior Management – Since 2008, the management team has been horrible. I dont know how any of their good employees stay there. Again - a toxic relationship.
“Its a retirement home”
pros – Adept is in field of Robotics and is well respected in the Robotics Community
Cons – Things move very slowly. Lack of accountability and leadership.
“Good place to work”
Advice to Senior Management – need to grow much and improve a lot. needs good number of managing team and also the marketing team for it.