Awful C-Suite. Stock bonus worth nothing by the time you vest. Middle management almost as bad a C-suite.
It is hard to put in words how bad the C-Suite were (CEO, COO and CFO). Fortunately two of them were fired. Unfortunately they surrounded themselves with VPs whose only skills were nodding their heads and not reporting bad news, and the VPs are still there. Fuel cell technology is a tough business to be in, but the management team accelerated the decline. Hopefully the new CEO cleans house because they will destroy the company if he doesn't.
Most of the great people were fired during the recent layoff or left soon after. It is hard to see how they can overcome their challenges with their extremely top heavy structure. I would guess 10% of the company are VPs or higher.
The new management gave themselves bonuses right after the layoff. The new CEO sign-on bonus and other awards were crazy considering the company is on life support. So it doesn't look like the apple fell far from the tree.
The company has lost over $250 million in the past five years and has little to no cash on-hand. If an outside entity does not save it, it has no hope to survive. Bloom Energy (who have their own problems) have corned the fuel cell market and FuelCell Energy have not adapted properly to compete.
