'Sick', 'Greedy' Avigilon CFO Gets A New Job

By: John Honovich, Published on Jul 31, 2014

Avigilon's explanations for their CFO crisis are falling apart but, in the meantime, it has worked well to boost their stock price.

Sick

On May 7th, investors were shocked by Avigilon's CFO leaving the night before their financials were released, with the stock plummeting. At that time, Avigilon repeatedly reported that the CFO left "in connection with a personal health issue."

The sick claim sounded like spin at the time, especially because of the timing (i.e., having to leave specifically the night before the financials came out) and the peculiar move for a sick person to leave the company rather than go on temporary leave / disability.

Greedy / Lazy

A few weeks after the exit, the story changed. No longer was there any mention of health issues.

Instead, the message Avigilon analysts / bankers offered was that the executives leaving with basically greedy and lazy, with one observing:

"The road to riches came so quickly for them that they were in a position to leave earlier than expected. ... When speaking to Alex [CEO] I get the feeling that he has more confidence in the work ethic, talent and drive of executives at the Dallas office than that of Vancouver"

This was followed by a TV interview with the CEO where these claims were repeated as well as another TV interview with an investor where this again was pronounced.

The CFO's New Job Contradicts This

Get Notified of Video Surveillance Breaking News
Get Notified of Video Surveillance Breaking News

Just a month after leaving, former Avigilon CFO Brad Bardua has joined Endurance Windpower as CFO [link no longer available].

A person who starts a new job so quickly is clearly not sick and evidently not rich enough to even take off the summer.

Why This Approach?

On the plus side, Avigilon has distracted / deflected deeper concerns about their business. People do not like to question someone's health as it is in poor taste. And with an attack on their ex-employee's character, it muddies the issue of whether or not one is dealing with a selfish person.

Long Term Risks of This Spin

Investors and analysts, if prudent, should now be more skeptical / critical of Avigilon's explanations.

Current and future employees may be concerned that they too will be publicly criticized, as Avigilon seeks to protect their share price.

Stock Up / Strong Numbers Expected

However, for now, things are heading up for Avigilon. Since the CEO's aggressive investor out-reach campaign and floating of the greedy theory, the stock price has rebounded and is now basically at the same point it was prior to the CFO exit.

Plus, the expectation, including with us, is that Avigilon is going to beat expectations strongly and deliver massive results on August 7, 2014 when they announce their Q2 2014 earnings. And, at that point, even if the Avigilon CFO issue points to deeper internal problems, it will be forgotten, for now.

10 reports cite this report:

Avigilon President Henderson Is Out on Jul 09, 2019
Avigilon's President and COO James Henderson is out, abruptly, after a...
Avigilon CEO: At What Point Do You Take the Blame And Resign Yourself? on Sep 03, 2015
The shots at Avigilon continue. After ousting their COO, Avigilon's CEO went...
Manufacturers: Get Paying or Get Sued - Avigilon Patent Licensing Program on Jul 29, 2015
The new Avigilon 'patent licensing program' is starting to roll out,...
Avigilon Fights Back Against Falling Share Price With Share Buyback on May 08, 2015
Avigilon's stock is down 50% from their peak price last year. The stock...
Major Moves - Security Manufacturers 2014 / 2015 on Dec 08, 2014
This guide summarizes the biggest moves of security manufacturers in 2014 and...
Avigilon Q3 2014 Growth Rate Down Sharply on Nov 04, 2014
The past 6 months have been extremely tough for Avigilon. The company has...
Why is Avigilon's Stock Falling Like a Knife? on Oct 08, 2014
A week ago, a prominent Avigilon investor admitted, "Nobody wants to hold...
Avigilon Profit and Stock Price Drops Q2 2014 on Aug 11, 2014
Battered by the controversy over their CFO's badly timed exit and a report...
Avigilon Accounting Issues Alert on Aug 05, 2014
An independent investment research firm which specializes in forensic...
Avigilon Dirty Tricks on Jan 15, 2014
Avigilon's products are strong but their marketing is consistently and...
Comments (1) : Members only. Login. or Join.

Related Reports

Convergint Outlook Turns Negative on Apr 16, 2020
Convergint's outlook has turned negative, according to bond rater Moody's,...
Terrible Convergint Coronavirus Thermal Camera Recommendation on Apr 01, 2020
A week after Convergint disclosed falling revenue, pay and job cuts,...
Hikvision Global Revenue Falls, Hit By Coronavirus on Apr 27, 2020
Hikvision's global revenue fell in the first quarter of 2020 due to the...
Coronavirus Hits Manufacturers, Standing Now, Worse To Come on Apr 06, 2020
Coronavirus is hitting security manufacturers, though overall modestly for...
ADT Slides Back, Disappointing Results, Poor Commercial Performance on Aug 06, 2020
While ADT had an incredible start to the week, driven by the Google...
Disaster At ISC West: Reed And SIA Burn Manufacturers on Mar 16, 2020
ISC West is a disaster but there's a winner for now. Reed and SIA have burned...
Faked Coronavirus Fever Detection, Athena Used Hikvision; Responds - Selling NDAA Compliant Cameras, Pledging 50% Of Profits to Victims on Mar 24, 2020
US company, Athena Security, faked its coronavirus fever detection marketing,...
Worst Over But Integrators Still Dealing With Coronavirus Problems (June Statistics) on Jun 30, 2020
While numbers of integrators very impacted by Coronavirus continue to drop,...
The Problem With Fever Detecting Thermal Sunglasses on Apr 15, 2020
While the media has promoted using thermal sunglasses to detect fevers, this...
ZKTeco SpeedFace+ Are Medical Devices, Per FDA Definition, Contrary Claims Are False on Jun 12, 2020
ZKTeco SpeedFace+ series products are medical devices as defined by the US...
Anixter Runs Fake Coronavirus Marketing Using Shutterstock Watermarked Images on Jul 24, 2020
Coronavirus faked marketing is regrettably commonplace right now but Anixter...
Dahua Revenue Plunges, 3 Execs Resign Q1 2020 on Apr 29, 2020
Dahua's sales dropped by 19.47% in the first quarter of 2020 amid the...
Temperature Screening Is Ineffective, Says US, UK, Canada, Israel, And Ireland Health Leaders on Aug 25, 2020
Health leaders around the world are increasingly speaking out about the...
China Manufacturer Suffers Coronavirus Scare on Feb 20, 2020
Uniview suffered a significant health scare last week after one of its...
Fever Cameras Are Medical Devices, Per The FDA, Dahua, Feevr, Hikvision, InVid Contrary Claims Are False on May 28, 2020
Fever cameras are medical devices, despite what euphemisms various sellers...

Recent Reports

OnTech Smart Services Partners With Google and Amazon To Compete With Integrators on Sep 25, 2020
A pain point for many homeowners to use consumer security and surveillance is...
The Future of Metalens For Video Surveillance Cameras - MIT / UMass / Immervision on Sep 25, 2020
Panoramic cameras using 'fisheye' lens have become commonplace in video...
Hikvision Sues Over Brazilian Airport Loss on Sep 24, 2020
Hikvision was excluded from a Brazilian airport project because it is owned...
China General Chamber of Commerce Calls Out US Politics on Sep 24, 2020
While US-China relations are at an all-time low, optimism about relations...
Verkada Disruptive Embedded Live Help on Sep 24, 2020
Call up your integrator? Have someone come by the next day? Verkada is...
IP Networking Course Fall 2020 - Last Chance - Register Now on Sep 23, 2020
Today is the last chance to register for the only IP networking course...
Drain Wire For Access Control Reader Tutorial on Sep 23, 2020
An easy-to-miss cabling specification plays a key role in access control, yet...
Norway Council of Ethics Finds Hikvision Human Rights Abuses "Ongoing" on Sep 23, 2020
Hikvision's involvement in "serious human rights abuse" in Xinjiang is...
IPVM Camera Calculator User Manual / Guide on Sep 23, 2020
Learn how to use the IPVM Camera Calculator (updated for Version 3.1). The...
Installation Course Fall 2020 - Save $50 - Last Chance on Sep 22, 2020
This is a unique installation course in a market where little practical...
SimpliSafe Business Security Launched Examined on Sep 22, 2020
SimpliSafe has launched "SimpliSafe Business Security" that the company...
FLIR CEO: Many New Fever Entrants "Making Claims That The Science Just Won't Support" on Sep 22, 2020
FLIR's CEO joins a growing number calling out risks with fever / screening...
China Bems Temperature Measurement Terminal Tested on Sep 22, 2020
Guangzhou Bems (brand Benshi) is the manufacturer behind temperature...
Axis Exports To China Police Criticized By Amnesty International on Sep 21, 2020
Axis Communications and other EU surveillance providers are under fire from...
Milestone XProtect on AWS Tested on Sep 21, 2020
Milestone finally launched multiple cloud solutions in 2020, taking a...