Since we are strolling down memory lane and reading between the lines,
posted on
Oct 29, 2009 05:37PM
I read through the Baroni PR again. What's interesting to me is the way in which Patriot chose to word the release. It appears that finding a CEO and assisting PDSG with it's business plan, are mutually exclusive events. In the same PR it says, " The Board of Directors has endorsed this reorganization of the Company with the intent of providing a new generation of leadership". If a qualified CEO is found by Eclat, we surely don't need Baroni to consult with him/her on the direction of PDSG. That should be the newly qualified CEO's job. If Eclat is tasked with identifiying the right person, one would think that would include a person who already has valuable contacts in the appropriate field. It would be quite difficult for a person to assume the helm and have Baroni standing over their shoulder pointing out which direction to go. I can't help but think that Eclats involvement seems a little more in depth than your typical consultant relationship. I'm still wondering if a new partnership is in PDSG's future. Afterall this is a pretty powerful statement, "transform Patriot and its wholly owned subsidiary, PDSG, into a more innovative, integrated and global company."
Also, I assume using the words "Additionally" and "independent" seems to imply that Eclat will not be providing the evaluation of Crossflo. Otherwise, why distinctly separate that issue from the rest of the PR? I would have assumed Eclat was handling all of it unless, Eclat plans on outsourcing that part of the evaluation to a more qualified party. Who knows, just some random observations.
"The Board of Directors has endorsed this reorganization of the Company with the intent of providing a new generation of leadership that will transform Patriot and its wholly owned subsidiary, PDSG, into a more innovative, integrated and global company. The changes being made are intended to accelerate the transformation of the PDSG acquisition and enable a faster implementation of its strategic direction.
The Company will seek management with appropriate industry expertise to accelerate that growth. In that regard, the Company has retained Eclat Consulting LLC of McLean, Virginia to assist the Company in its search for a Chief Executive Officer and to assist PDSG with the completion of its business plan and the acceleration of its revenue stream. Additionally, the Board expects to receive a favorable independent technical assessment of PDSG's flagship Crossflo DataExchange® product (CDX) within the next two weeks."