Altium has a new CEO

[EEVblog]

http://www.asx.com.au/asxpdf/20140116/pdf/42m4l2vzvrcvyb.pdf
Aram Mirkazemi is the new CEO
The coup is complete.

[c4757p]

But when they split, didn't they already.....

Oh.

Hey, one benefit of Keyshite's new name - I'll stop seeing "Altium" and reading "Agilent"...

[Zad]

But I'll still keep confusing Altium and Atmel, and accidentally call it Protel! Here's an idea Altium, change your name to Keyshite!

[Rufus]

http://www.asx.com.au/asxpdf/20140116/pdf/42m4l2vzvrcvyb.pdf
Aram Mirkazemi is the new CEO
The coup is complete.

He has been there since 1977 with a break to set up Morfik and sell it to Altium. Doesn't sound like much of a new broom to do any clean sweeping.

[EEVblog]

He has been there since 1977 with a break to set up Morfik and sell it to Altium. Doesn't sound like much of a new broom to do any clean sweeping.

Except that AFAIK, he never believed in the FPGA dream. So that's not a bad thing at least.

[HackedFridgeMagnet]

Reading the blurb.

The new CEO seems to be a keen participant in the short term incentive plan, but not the long term incentive plan.
<sarcasm>
That can't be normal can it?
</sarcasm>

[Rufus]

Reading the blurb.

The new CEO seems to be a keen participant in the short term incentive plan, but not the long term incentive plan.
<sarcasm>
That can't be normal can it?
</sarcasm>

It also says he is the largest Altium stock holder presumably from an exchange for Morfik so any long term plans he has would seem to be well incentivised.

[EEVblog]

It also says he is the largest Altium stock holder presumably from an exchange for Morfik so any long term plans he has would seem to be well incentivised.

He already had a large percentage before the Morfik acquisition, which gave him another 15% of the company. So yes, heavily invested in the success of the company, at least until he decides to cash out.

[hiddensoul]

He has been there since 1977 with a break to set up Morfik and sell it to Altium. Doesn't sound like much of a new broom to do any clean sweeping.

Except that AFAIK, he never believed in the FPGA dream. So that's not a bad thing at least.

YAY maybe they might release a free lite version based on your video. It might pay to send him a link to the video

[HackedFridgeMagnet]

It also says he is the largest Altium stock holder presumably from an exchange for Morfik so any long term plans he has would seem to be well incentivised.

I take your point, but is he really long term incentivised, if he can sell at any time?

I also think his $600,000 package is excessive for the size of the company he is managing.
What is Altium's net profit loss since purchasing Morfik? His incentive package may turn the annual profit into a loss.
If he is already incentivised by his shareholding maybe he should take a token management fee of say $1.

I will change my 'hold' recommendation to  'sell'.

<disclaimer> Let the truth be known, I know virtually nothing about this company. </disclaimer>

BTW if this is not off topic, is Morfik any good? Anyone used it?

[VK3DRB]

$600K per year?!

Another example that being a talented engineer does not pay compared to being a CEO or CFO.

As a friend once told me (he now consults - more money for less hours), engineers are their own worse enemy when it comes to salary - they are usually too inept socially to demand what they are worth. His opinion, not mine.

Many experienced electronics engineer are worth their weight in gold, but earn only a reasonable salary. Certainly nothing like the Altium CEO, or an ABC reporter!

[EEVblog]

BTW if this is not off topic, is Morfik any good? Anyone used it?

No idea if it's any good, but it's dead, virtually no one uses it.
Morfik had IIRC about $40K (yes K) in yearly sales when Altium bought them for 15% of the company, which at the time was several $M

[EEVblog]

Many experienced electronics engineer are worth their weight in gold, but earn only a reasonable salary. Certainly nothing like the Altium CEO, or an ABC reporter!

The likes of Kerry O'Brien and Tony Jones earn every cent IMO.

Is 600K reasonable for the CEO of publicly listed company with sales of circa $60M ? I dunno, but it doesn't sound that obscene. I think Nick was on about half that though.

[EEVblog]

I take your point, but is he really long term incentivised, if he can sell at any time?

Seems not, by his own admission:
http://www.altium.com/resources/investor_announcement/asx_releases/ASX%20Announcement%20Aram%20Mirkazemi%20to%20succeed%20Kayvan%20Oboudiyat.pdf

The company intends to operate a Long Term Incentive Plan. Mr Mirkazemi, who is the largest
shareholder in the Company, has advised the Company that he does not intend to participate in the Plan
but he reserves the option to participate in the future.

[DerekG]

He has been there since 1977 with a break to set up Morfik and sell it to Altium. Doesn't sound like much of a new broom to do any clean sweeping.

Except that AFAIK, he never believed in the FPGA dream. So that's not a bad thing at least.

I agree David. Altium wasted millions on their so called "standardised platform" for FPGAs. Many PCB engineers don't have a need for FPGAs and if they do, they will most likely use the OEM FPGA software as they can rely on the final outcomes. Also, should they have any problems, the manufacturer will guide them through to a successful outcome.

PS: Loved you video "Altium Entry Level PCB Tool Rant"

[EEVblog]

I agree David. Altium wasted millions on their so called "standardised platform" for FPGAs.

Try hundreds of millions, almost the entire company fortune, and most of the companies focus for a decade or more.