The company only has $15 million in revenue. It is a processing company that sells card processing services. They get a small percentage of every card swipe.
The added cost is going to eat up virtually ALL the profit in the company. He dropped his pay from $1 Million (way too high for a company with $15 million in revenue anyway), and that will absorb some of the shock, but not all.
If I was a board member or investor, he would be out on his but quicker than poop through a goose.
Is he the owner ? Owning CEO’s probably should work for nothing. I always did.
Well you aren’t so why are you acting like you have a vested interest? Its this guys company, he’s free to run it how he likes, and since you are neither a board member, or an investor you have no dog in the fight so to attack him just shows up as envy.
If you respect the concept of liberty you can’t be attacking someone else for exercising theirs when you disagree with it. You by your own admission have absolutely no personal stake in this company, so why are you projecting your will onto it or criticizing it? If the CEO decides he things lower annual profits to provide a better payroll is better for his business that’s his decision to make, it doesn’t affect you in any way, so why do you care?