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    inthemix21's Avatar
    inthemix21 Posts: 1, Reputation: 1
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    #1

    Nov 18, 2008, 04:34 PM
    Mismanagement leading to sale of company
    Hi,

    My company was recently acquired with the sale proceeds going to the COO. No one in the company was told of an ownership change that occurred prior to the sale -including officers (VPs). The company has been mismanaged by the COO to the extent that significant harm to the reputation of the company has taken place all to keep an appearance of profitability. It is possible that inappropriate company actions were taken for personal gain of the COO. As a VP can I request to see the results of the acquisition audit, chain of custody of ownership.

    Thanks
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Nov 19, 2008, 07:45 AM
    Hello in:

    I don't think so. You weren't an owner. You just worked there. If, of course, you're a shareholder, then that's different.

    excon
    AskMeIKnow's Avatar
    AskMeIKnow Posts: 10, Reputation: 1
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    #3

    Nov 19, 2008, 07:53 PM

    May I ask what kind of a company you have?

    Is your COO also member of the Board of Directors, if you have any? In any case however, as one of the officers, it is your mandate to also look after the welfare of the company. If what you say is founded, try to call the attention of the board, or the shareholders in general.
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