Just reflecting a bit......In hindsight it is perhaps good that what transpired over the last 9 months did happen. What I mean is the prolonged painful implementation of the ERP system, the missed SEC filings, the torturously long "move-in" to the new HQ, the continued lack of focus on what really matters.....Selling Systems and Products. In my view, VirTra's complacency over the last 5 years, the lack of an active BOD holding the CEO to concrete performance objectives, the continued hiring of third tier talent at leadership positions, listening to "grubby street people" for financial structuring advice, etc.....all this stuff finally caught up with Ferris and the company.
The good news, perhaps great news, is that it is never the wrong time to do the right thing. So obviously Ferris, likely with the encouragement/support of Givens, has finally taken some real corrective actions to improve the company. The promotion of Givens, the Aug 15th employee restructurings, today's CFO news, are all big steps in the right direction so kudos to Ferris and Givens and the BOD.
That said, none of it will matter unless the company pivots hard and fast and smart and finally structures a sales organization to sell product. This is the elephant in the room that VirTra continues to ignore. Why on Earth has Mulcahy survived in his role this long? By the one and only deliverable that he is responsible for he has failed, that being delivering aggressive profitable revenue growth. The company is still stumbling along at a terribly slow growth rate in the face of a macro environment that has been as good as it can be for the last several years. The sales org must be addressed asap.
