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Definitely good to get different perspectives and challenge one's own thoughts. I have been swayed on Sturrock's continued pay; I just hope he gives them some value in return. Defo a question there for the next Q&A
Definitely a lot of differing views there D-G. But it’s good to talk.
So in conclusion we are decided that we want a new CEO; keep the existing CEO; sack the old CEO; get taken over; take over other companies; hire more people to man the phones; hire fewer people to save money;
*Get the SP higher*
If only it were that easy :)
I've heard her say she sometimes talks to customers (presumably disgruntled ones) on the phone. I think that's great! Some TP reviewers have said ('demanded') to talk to the CEO. I imagine hearing of poor deliveries first-hand puts her in a much better position when she goes to DX and tells the senior managers to pull their socks up when delivering to eve customers.
I recall CC saying she responds to the TP reviews personally — thought it strange at the time too. How can a CEO have the time and on TP it states :-
Reply behavior
How eve sleep replied to negative reviews in the past 12 months
Typically replies to negative reviews in 1 week or less.
Has replied to 45% of their negative reviews.
.... so less than 1/2 of the negative reviews get a response —- some of the reviews are indeed very negative and make difficult reading for shareholders. Maybe someone can be responsible to respond to all negative reviews? I think DFS though they show TP score they seem not to permit a direct link from their website to the actual TP reviews so potential customers are spared seeing the negative DFS reviews!
Also I think the TP reviews only run for 12 months — hence if last years April figures get deleted maybe the actual TP review counts are always only 12 month figures?
Aim, yes, promoting the company is great and I think she does that with her appearances in various places. Just has't really worked out given the economic situation. The only TP I recall her writing (I found it in a search) was her getting very cross with Addison Lee when their car failed to show up on time; she was pretty angry. She does think TP is important for eve and why not use it; She has time for snooker, and sleep :)
I can't really see us acquiring other companies unless very small ones, though new products are a place where I think we could certainly move faster, to broaden the range. It's been around 22 gifts for ages.
They did have a partnership with Dreams which failed. Negotiated by Sturrock or the last crowd? Can't recall.. That was probably a good experience for learning how not to partner a bigger player. As DFS came to eve she said that eve did well in negotiations. I'm happy with that. Let's hope they are selling lots.
I think you're being too kind DG. We're not saying their salaries are comparably high (they're absolutely not) but certainly high enough to top up especially given the valuation is essentially nill minus the cash. The team need to be thinking much much bigger - we can't have a CEO writing trust pilot reviews (pretty sure she said she was in the Jan investor meet presentation). We need a CEO to be doing things like - 1. looking for new / profitable partnerships (DFS approached us !!!), 2. looking at acquisition opportunities to get us the magic £30m revenue faster, 3. selling the business to new investors to help the SP so that point 2 is a possible 4. exploring options to bring production in house (not saying this is a good idea but an example of where we'd want the CEO to be focused) etc etc etc.
Argos offer is not just eve mattresses. All brands I see.
Argos offering 20% off eve mattresses 'Special offers 1 Save 20% on Furniture with code FURN20. All Offers ends on 7 June 2022.'
'Tim Parfitt & Cheryl Calverley combined took over £300K in salaries last year' but CC is also the CMO so perhaps £300K is not bad for three roles at a plc. I don't know, I'm not looking at salaries of similar companies. Just putting up an alternative view.
If it were not for Putin we'd probably be a lot closer to profit, if not already there. I'm going to hold back from being too critical of the people at eve when they seem to me to be navigating the problems as well as most, if not better than most, in what is a competitive market.
I'm also not sure I'd have so many shares (average 3.7p approx) if I had the options the management have. I'd probably spread my risk.
'Good luck to all' as they say!
I'm in exactly the same boat. I think the only director with more shares is Mike Lloyd. It seems like they're doing absolutely nothing to bring in new investment. They'll argue that if they focus on the business the SP will look after itself. This is true to some extent but with a business in such a precarious position they'll need additional finance at some point. Certainly if they have any real ambitions of scaling to any size. I fear the team are not up to the task. CC is excellent but more of a COO than a CEO in my view. Hopefully I'm proved wrong but think it's all very tactical at the moment. Who is looking at the bigger picture?
Tim Parfitt & Cheryl Calverley combined took over £300K in salaries last year and both have fewer shares than me. Who else thinks we may be a little top heavy with a current mcap of £4.4m? Why does there seem to be no communication to the shareholders and no appetite to encourage new investors?
How has there not been any director top ups in this financial year with the business effectively valued at cash in bank? If it transpires that we're not in a closed period right now then I'll be offloading as I think this says a lot. Will give the benefit of the doubt for the next few weeks on the off chance they're negotiating a sale and so can't transact. But after that I don't so why I should leave my money here if the directors clearly place no value in it.