|NEWS to Notice: former ALU CEO Combes resigns. Next stop will be BIG News.|
Former ALU CEO Combes resigns as finances doubted at ALTICE.
While this is primarily big news in France and the tech sector, it is a predictor of the state of financial leveraging in the tech sector as companies push for scale to become leading in their market sectors.
Recall that ALU along with Motorola and Bhart Airtel and others were iniital backers of Sequans.
Ericsson has also been closely associated with Sequans and one Board seat was for several years held by a former ERIC executive.
The flood of cheap cash has allowed companies to leverage without concern for refinancing options - a gamble which has several times in history preceded big market drops.
This morning the markets are adjusting harshly.
The key is to understand where your own investments are leveraged.
Sequans is very lightly leveraged however is also deeply in need of financing to grow scale, much less continue operations.
At the close of this post I repeat that Michael Combes is one of the world's few Tier 1 CEOs, and would be a transforming addition to the Board at Sequans, though likely only for a short term leading to a merger.
His next full-time CEO position will certainly be BIG news and I expect he will seek leadership with a major French firm first and foremost, like another financial firm like current board officers with Sequans.
However, STMicro could use his ability as it navigates its own turn-around already underway. And the NXP deal with QCOM is uncertain and could use an expert on board.
I expect that his expertise will be highly courted by major banks and financiers like Bpifrance and I hope that our Board can develop a relationship with him that supports our next steps as he is one of the few CEOs who navigated business in China successfully and gracefully, while also working together with the political leadership in France.
These are skills George Karam is entirely lacking.
NOVEMBER 9, 2017 / 9:51 PM / Altice CEO Combes resigns as company acts to address problems... Altice said earlier this month that it lost about 75,000 broadband customers in France, its biggest market, in the third quarter...
Altice CEO Combes resigns as company acts to address problems Altice's performance in Europe has led investors to question its strategy and fueled concerns that the highly leveraged company will not be able to maintain its debt level in a rising interest rate environment. REUTERS | November 10, 2017, 09:09 IST Altice NV said on Thursday that Chief Executive Michel Combes has resigned... Combes was appointed chief operating officer of Altice in 2015, after leaving as head of telecoms equipment maker Alcatel-Lucent ahead of its takeover by Finland's Nokia . He became Altice's chief executive the following year when Goei stepped down from the role to take the reins at Altice USA.,,,
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Altice to Slash 2017 Capex Despite US FTTH Plan, French Rivalry IAIN MORRIS, News Editor 3/9/2017 European and US cable company Altice will dramatically cut back on capital expenditure this year as it aims for an improvement in profitability and continues to work on reducing its debts... The spending cuts were announced despite Altice's ambitious plan to roll out a costly fiber-to-the-home (FTTH) network across its entire US footprint over the next six years...
Sequans Communications SA ADR Makes Changes To Its Board By Jason Williams - July 14, 2017 Sequans Communications SA ADR reported that Maïlys Ferrère has been elected to company’s board. Ferrère presently leads Bpifrance Large Venture, which is a leading late-stage venture capital financier in French firms for the objective of growing them into international leaders. Georges Karam, the CEO said that they are delighted to have Ferrère join their board. Her extensive experience in the growth management and technology industry will be a remarkable support to company.
Bpifrance Large Venture has put in more than 30 firms in the biotech, greentech and tech spaces. Before becoming a part of Large Venture, Ferrère served as an investment director at the renowed firm Fonds Stratégique d’Investissement. She is even a board member of other firms including DBV Technologies. Ferrère is a graduate of IEP Paris...