Slate Hires New CEO Peter Faricy. Ex-CEO Chris Barman appointed new role

[AZFox]

The bottom line is, a CEO is a manager first and a practitioner 2nd. I think Barman has both qualities and evidence at this stage shows she has been very successful. I just don't see the need to move the C-suite from Barman to Faricy; what does he bring to the table?

Overall I think he brings uncommon ability to grow companies, mainly.

He also brings ability to let Barman concentrate on doing what she enjoys most does best.

Those two combine to make the company as a system more attractive to investors.

 

[E90400K]

Overall I think he brings uncommon ability to grow companies, mainly.

He also brings ability to let Barman concentrate on doing what she enjoys most does best.

Those two combine to make the company as a system more attractive to investors.

Grow? Hell, Slate has to first execute before it can grow. Either Barman was the wrong pick from the get-go or Faricy is coming in way too early. I just don't buy the digital transformation/customer merchandizing spin. Somebody with the cash behind scenes decided Barman wasn't the right person. As others have said, at this critical juncture just a few months from initial production validation units, something has gone awry.

Listen, I'm not picking on you or anyone that sees this as a positive. I'm just commenting on how I see the deck of cards is being played.

 

[Letas]

Grow? Hell, Slate has to first execute before it can grow. Either Barman was the wrong pick from the get-go or Faricy is coming in way too early. I just don't buy the digital transformation/customer merchandizing spin. Somebody with the cash behind scenes decided Barman wasn't the right person. As others have said, at this critical juncture just a few months from initial production validation units, something has gone awry.

Listen, I'm not picking on you or anyone that sees this as a positive. I'm just commenting on how I see the deck of cards is being played.

Ding ding ding. Slate is still in the same place as it was when Chris was hired- zero cars sold. The roadmap was clear from the inception to now, it is not a surprise that Slate all the sudden needs to build a factory and sell trucks. CEOs are not hired with an expiration date in mind.

Either hiring Chris was the wrong decision, or hiring Peter will be.
And on the topic of “digital transformation”- again, Slate has sold NO vehicles. If they need a transformation already…. That is alarming for the health of the company.

 

[clofan]

It could be good news, they have more interest than expected and needed to immediately lighten Chris's workload to execute to her standards at scale. Wish she could have kept a C-title as peers with the new guy tho

 

[KevinRS]

They are expanding from engineers and designers designing a truck and building prototypes to actually building them. They have to hire the people who will work the factory floor, sales will be online, but people have to run that part too, and all the other things involved in being an actual car company. Number of employees is probably going up at least 10x through this year. The workload for the executive team is also going up. This guy will handle the financial parts, sales, meeting investors, etc, allowing the "car people" including Chris to focus on bringing the vehicle to release.

 

[AZFox]

I just don't buy the digital transformation/customer merchandizing spin.

Sounds like growth to me.

A skunk at the picnic enjoys being a skunk more than the people at the picnic enjoy having it there.

Negative Nellies are gonna do what they do....

 

[IamSpotted]

There's an emergency key hidden in the keyfob of my lincoln potentially there's one in Slate's as well

That was the case for my 2012 370Z as well. So does my 2023 WRX. So I wouldnt be surprised if the Slate has one hidden as well.

 

[Imhotep]

That was the case for my 2012 370Z as well. So does my 2023 WRX. So I wouldnt be surprised if the Slate has one hidden as well.

Same with my 2008 Prius. Hidden emergency key I thankfully have never used. The main thing I like about that FOB is that it stays in my pocket and the car knows it’s there, so my main disappointment with the Slate is that they have said the FOB will have to be inserted into the dash.

 

[E90400K]

They are expanding from engineers and designers designing a truck and building prototypes to actually building them. They have to hire the people who will work the factory floor, sales will be online, but people have to run that part too, and all the other things involved in being an actual car company. Number of employees is probably going up at least 10x through this year. The workload for the executive team is also going up. This guy will handle the financial parts, sales, meeting investors, etc, allowing the "car people" including Chris to focus on bringing the vehicle to release.

But those company building blocks were already in the execution plan from day 1 and should be in place and under way at this point. Barman as CEO for the past 3 years would have had that responibily. She hires the executive staff that builds that human capital infrastructure.

And where in Faricy's background does he have expertise doing any of that? I've not seen it.

We've all seen the videos of Barman in the safety vest, hard hat, and safety glasses. But if that's how she really shows up for work every day, then LOL, she wasn't qualified to be the CEO from the beginning and should have been booted years ago. As CEO, all of that imagery and portrayal of a sleeves-up CEO floating the concrete for the factory floor and bolting up robots in place on the production line was her doing. If the money men behind Slate didn't like that imagery then she was her own undoing.

I liked it that the Slate CEO wasn't just a business suit dude. Pulling Barman out now just means the whole Slate concept was/is wrong.

 

[IamSpotted]

I love reading all this speculation you guys are doing with absolutely 0 information about why the change was made. Don't mind me, I'll just sit back and eat my popcorn.

 

[bloo]

Looks like I was wrong about the glovebox...