Ok, well first of all, it will be tough to know for sure since Avid does not comment on personnel changes or matters.
So lets just look at the facts....both Roger and Tracy were offered very generous packages to make the switch to a struggling biotech that was by no means financially stable...so they obviously had a big pay package and some guarantees attached.
I believe Roger left for two reasons...
1)He was tired of the regular commute from the East Coast(however he consequently took a job with Stelis Pharma out of Bangalore, India so this could be debated) and I believe his pay package was tied into staying for a minimum period and this included a generous(too generous imo) golden parachute.
Remember that the previous team was desperate to sign a proven veteran as Peregrine was perilously close to bankruptcy. I believe Roger totally took advantage of his contract and never had any intentions of staying longer term...again the incompetence of our previous board.
2)Secondly the current BOD soon realized that Roger was only coasting so they had to move on, so why not replace him as soon as things settled down.
Now I believe that Tracy was coasting also on Roger's coattails and also had no plans to stay long term, and so the BOD just kept her on for a couple of quarters longer so as to calm the investing market...otherwise it would look like everyone was leaving the sinking ship.
So yes both were gently sent out the door IMO, and regardless of the slow pace, we have a much much better BOD and management team now in place.
This still does not negate my previous post....I think they have had some bumps along the way, but things are now settling down and it is time to show what they have and what they plan on doing going forward.
I had many conversations with Steve White(of Ronin fame) and he felt the share price could easily run to $11 within a year or two...well he was off a bit it seems....so lets see what the current crew has to offer at the upcoming CC as we are getting close to now or never.
