Just caught this at the tail end of the article:
“Update: Carbonite shareholders have another reason to worry. Friend has just started a potentialy competitive online storage company with a recently departed executive.” Friend was the man in the interview, the CEO of Carbonite.
So the CEO that made this decision, got together with a “recently departed executive” (planned?) and started a competing business? Did this guy sabotage his own company purposely? Or does he just think he is the wheeler dealer of the year?
In any case, looks like he single handedly destroyed Carbonite.
What’s he gonna call the new company , Kryptonite ?
It’s hard to imagine that Carbonite doesn’t have a non-competitive clause in all its executives’ contracts. But if a ‘recently departed’ exec and a current exec are setting up a competing company that is management of the worst imaginable sort.
So the CEO that made this decision, got together with a “recently departed executive” (planned?) and started a competing business? Did this guy sabotage his own company purposely? Or does he just think he is the wheeler dealer of the year?
In any case, looks like he single handedly destroyed Carbonite."
Wow, he trapdoored Carbonite. And the remaining shareholders will just sit there and take the punch in the face...