Replies to post #2000 on Spectrum Pharmaceutecals Inc (SPPI)

[antihama]

So here is a theory on why Raj was let go. Once upon a time not to long ago (2012) the Board of Directors said Hey we are a growing company thanks to our CEO (Dr. Raj) but he is not getting any younger (69 at the time) and it is time to hire a strong management team to continue growing so in Sept 2012 Ken Keller (49 yrs old) was lured from Amgen and hired as Executive Vice President and Chief Operating Officer as a future replacement for Dr. Raj (I really liked the way he presented himself at CCs). And the next month KK got someone he worked with at Amgen, Joe Turgeon (54 yrs old), in as as Senior Vice President Sales & Commercial Operations, and the BOD said 'this is good'. But Dr Raj regretted his buy-in to this development and said "no, no, no he's not getting my job, I'll never leave" Sadly, Ken Keller, was forced to look for new employment. Most of the BOD was not happy but went along because they still had JT and Tom Riga (also from Amgen). Fast forward 5 yrs to where we are currently, JT was confiding with the BOD, mainly Stuart Krassner, that he was going to start to look for another job since this guy Raj is never going to leave. ST, said no, no no we can't have that and went to Dr Raj to ask him to gracefully step down. Dr. Raj said no, no, no 'I made this company, this company is nothing without me (forgetting he caused the company a lot of trouble and headaches). ST said "I have no choice, I am going to lose my current management team and have a 74 yr old at the helm of the company if I don't do something" and had Dr Raj step down.

From yesterday's PR

Mr. Turgeon and Mr. Riga have nearly 50 years of combined industry experience and the Board believes that they are the right leaders for Spectrum as the Company enters its next chapter.”

And I think that next chapter will be a doozy!

Edit ps I don't know if I'm right cougar but I can't figure out what Raj could have done. If nothing untoward happens in the next several months we'll know the answer.