E90400K
Well-Known Member
Not that I want to rehash my thoughts, but since you asked. 99.9% of the time removing a CEO from her position means their is or are financial situations that the CEO created or are beyond her skill set to resolve. Had Barman not been employee #1 hire as CEO in the Slate startup quest I wouldn't have as much concern over her removal. She assembled the team from the ground up to create the truck from thin air. Then just as the plan is gelling, they pull her from the C-suite? The reason is "oh, we now need to focus on the consumer retail side"? Nah.meh. why?
Barman took it from concept to robots on a factory floor; well done.
Now she continues to spearhead the most important part for endusers - responsible for vehicles we'll actually buy and drive.
Clearly, the investors want a wider focus to monetize accesories and any other revenue stream that is possible outside of the base vehicle itself. Slate is playing at a price point no one else is restricted to - not the other EV startups, not the legacy brands with their broad portfolios; I see nothing wrong with the move.
Slate is trying to do something that hasn't been done in what - 70, 80, 100 years?
Let's say Slate can't meet its revenue and profit goals on a timeframe expected by the investors - who do you think gets shown the door? It'll be Faricy, much more so then Barman or Keipper.
In 2022, the Principles at Re:manufacturing obviously thought Barman had all the creds and skill set necessary to bring the Slate FN to market. The plan has always been to sell the aftermarket products as a significant revenue stream and profitability center for the company. Bringing Faricy in to spearhead that side of the business is not a CEO level effort, that is a staff position managed by a CEO. If Barman's only expertise is creating the physical product and assembling the team and machine to build it, then the choice of putting her at the CEO position was the wrong decision from the get go. Or it means she ran out of talent to push the plan to the final milestone on the Gant Chart.
Ousting Barman from the CEO spot tells me something is amiss at Slate. Slate is asking me to place a $25K bet on their business decisions, replacement of the CEO just as critical mass is being reached is not comforting.
If Faricy was stuck in as CEO to be the typical Wall Street Suit to manage Slate's IPO because he looks like the rest of the Wall Street investor buffalo, then that is even more discomforting. You mentioned Slate is trying something that hasn't been done in 70 - 100 years, well, that endeavor was the Ford Motor Company, which didn't IPO until 51 years after it became the world's largest automotive manufacturer. Staying off of Wall Street is what allowed Ford Motor to prosper. Slate doesn't have any ass behind it at this point to let a bunch of Wall Streeters run the company.
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