A few conference calls ago, Lew “Tricky” Dickey told the world that he was going to hire a search firm to find a non-family member to join the Cumulus executive team.
We were led to believe that his board instructed him to do it.
But months later, no non-Dickey was hired.
No outsider joining the company.
Instead the same old same old regional firewall that Lew Dickey controls – a bunch of puppet managers jumping to his every command.
So the question is with the company $2.5 billion in debt and the stock in the toilet, how close is Lew Dickey from getting laid off?
I laughed in disbelief when I first heard of the notion.
But investors are in no mood to lose their money on empty promises.
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- Why the Cumulus board never really asked Lew Dickey to hire a non-Dickey to join the company – they have plans of their own.
- All you hear about is the managers the Dickeys fire, but there is a bigger problem – they can only find retreads to fill key positions.
- Once the fair-haired boy of Cumulus – the one reason why investors might make a change at the top if 2015 continues to get away from Lew.
- Think the board hasn’t been thinking about replacing Lew? Check out this Golden Parachute. This is a serious separation package.
- Prepare for a major Hail Mary to save the company before investors’ money is wiped out any further.
The answers start here.
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