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Thursday, May 17, 2007 5:46:26 PM
In other words, NEOM hopes the new CEO will bring with him/her access to financing.
Fritz hinted to this point in the recent CC as one of the prerequisites for the position -- but the language is confusing. He may be referring to investment relation firms defined as entities that do IR and PR work for companies OR he may be referring to investment firms. The former doesn't make much sense since firms servicing as outsourced investor relations are a dime a dozen and it does not follow logically that the requirement of a new CEO would be possessing preexisting relationships with said firms. The latter makes a ton of sense but, again, I think this requires clarity.
"The number one thing we are doing is hiring a top level CEO who will guide the ship going forward. When I took this position it was announced as an interim position in order to right size and bring all the problems to bear and fix them and we are well down the road of fixing all the problems that we've had. We totally believe that the new CEO will bring with him a number of things: one, or her, one, credibility, two, additional management team, three, market presence, four, a Rolodex of people that they can call on and immediately help us in the industry, five, relationships with investor relation firms and so there is a number of things that will, that, that new person will help us with. And that is probably the number one thing, that, that will .. and you asked what was the number one thing, that was it."
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