What's going on is that Bob Young has been put in place by his buddies (the Board) and he's running the company in to the ground. It is expected to have high turn over when a new CEO takes over, but Mike Anthofer's departure marks the second to last original C-level at Tessera. Who is left? Barney Cassidy. I'm sure it won't be long before Barney "pursues other opportunities" as well. Shortly after Bob stepped in as CEO (rumors swirling the hallways within the company were that previous CEO Hank Nothhaft was quietly pushed out by the Board) he fired most everyone at the C-level and brought in his buddies -- none of whom were interviewed or vetted and are now ruining the company. Has it been a blood bath? Not by any means. However, companies always sugar coat someone leaving who was outright fired by saying they decided to pursue other opportunities. Under the leadership of Bob Young and this Board, Tessera is headed for the gutter and fast -- just look at the stock price. The darling of the company, DigitalOptics Corporation, is what there is to look out for and under the leadership of Bob Roohparvar there is a lot to look forward to. You didn't hear anything about the design wins -- and as a former employee who worked there WHILE those design wins were secured I didn't either -- because Bob Young fired the entire corporate communications and marketing teams. Communication is abhorrently poor inside the company, so just imagine why you're not getting any information as a stock holder. Morale is low. Employees are scared -- and rightly so when employees are fired for not covering up illegal activities conducted by the CEO and leadership of the company. It's a real doozy over at Tessera Technologies, Inc. and it's lead by one doozy of a man looking out for his own best interests, not yours as a stock holder.
