Nick Martin booted out as Altium CEO - Page 1
Forum section: electronics / general

author: EEVblog
author_rank: Unknown
timestamp: October 15, 2012, 04:54:29 am
content: Altium's founder and CEO Nick Martin has been booted out of the company after 25years:http://asx.com.au/asxpdf/20121015/pdf/429d1tpbcp23rj.pdfI guess the board could only take so much...Dave.

author: EEVblog
author_rank: Unknown
timestamp: October 15, 2012, 09:24:01 am
content: So, what's Nick going to do now I wonder?Suddenly out of a job after 25 years.Suggestions?Dave.

author: saturation
author_rank: Super Contributor
timestamp: October 15, 2012, 12:18:18 pm
content: The easy answer is consulting while waiting for another job, is so desired. If you've reached CEO status the trick is to milk it for all its worth because there may not be a second job, and thereafter, retire.

author: sacherjj
author_rank: Frequent Contributor
timestamp: October 15, 2012, 01:50:27 pm
content: It kind of seems that once you have reached CEO, even if you run a company into the ground, there seems to be a CEO position available for you somewhere. I don't think I understand that, because I'm rooted in logic, rather than MBA sideways speech.

author: enz
author_rank: Regular Contributor
timestamp: October 15, 2012, 02:21:03 pm
content: I wonder why this "Only for personal use" watermark is on this official document. Any ideas?

author: IanB
author_rank: Super Contributor
timestamp: October 15, 2012, 02:35:56 pm
content: But will there be a change of strategy?QuoteThe press release says the board wants to focus on returning the company to profitability, yet this seems to be a continuation of the same direction as before.

author: firewalker
author_rank: Super Contributor
timestamp: October 15, 2012, 02:50:30 pm
content: Quote from: EEVblog on October 15, 2012, 09:24:01 amJoin another company. E.g. DipTrace.Alexander.

author: Unknown
author_rank: Unknown
timestamp: October 15, 2012, 02:57:46 pm
content: weird, is it me or do all PR releases like these always seem use the same words? Is there like some MS Office Word Add-In Wizard in the premium edition that allows you auto generate these ? ;-)

author: saturation
author_rank: Super Contributor
timestamp: October 15, 2012, 03:00:14 pm
content: It depends on the legacy of your previous charge, why did he step down? Who would want a CEO who ran his/her previous company into the ground? aka Carly Fiorna of HP/Agilent or John Sculley of Apple? If you read their histories CEO either open their own companies or join Boards for their advise, but not their executive potential.Quote from: sacherjj on October 15, 2012, 01:50:27 pm

author: firewalker
author_rank: Super Contributor
timestamp: October 15, 2012, 03:35:07 pm
content: Dave, you should apply for the job!Alexander.

author: SeanB
author_rank: Super Contributor
timestamp: October 15, 2012, 04:07:02 pm
content: Dave can't, he actually does know something about the products the company makes.........

author: billclay
author_rank: Regular Contributor
timestamp: October 15, 2012, 04:46:13 pm
content: Quote from: EEVblog on October 15, 2012, 09:24:01 amCEOBlog.com

author: Zad
author_rank: Super Contributor
timestamp: October 16, 2012, 04:25:15 am
content: Ideally he would come back to Aus with a stack of cash, and fund a sparky little start-up company making CAD software that people actually want to use, with none of the add-on crap that turns decent products into bloatware.

author: EEVblog
author_rank: Unknown
timestamp: October 16, 2012, 05:16:56 am
content: Quote from: IanB on October 15, 2012, 02:35:56 pmThe third paragraph (can't seem to copy it) effectively says that the former CEO did not focus on returning value for the company. i.e. didn't give a toss if it made money or not.They didn't like his direction, so they booted him.Funny thing is, I think the entire China/cloud/software-as-service crap was Nick's idea to begin with (as almost everything within the company is/was). Now they want to continue that rubbish?I think what they really mean here is to continue with the "subscription" thing because it generates consistent revenue. And my guess is they will translate that more and more into "renting" the software instead of owning it. That will work, because the loyal customer will have no option but to take it up the arse if they want updates.They will try and do the same thing with libraries and "content", but that will be an utter failure, as it has been already.Dave.

author: EEVblog
author_rank: Unknown
timestamp: October 16, 2012, 05:18:24 am
content: Quote from: firewalker on October 15, 2012, 02:50:30 pmJoin?He could buy them.And it's written in Delphi just like Altium, so he'd feel right at home!Dave.

author: EEVblog
author_rank: Unknown
timestamp: October 16, 2012, 05:22:57 am
content: Quote from: Zad on October 16, 2012, 04:25:15 amBut it was all his idea to turn it into bloatware to begin with!But maybe he'll have an epiphany and realise he can "go back to his roots" and start with affordable and usable PCB/SCH software.According this this:http://asx.com.au/asxpdf/20121016/pdf/429dsydwgzyqm4.pdfHe has about 22.5M shares still. At the current $0.70 price that's about $15.7M worth.A far cry short of the approx quarter of a billion $ he was once worth, but still a tidy sum.Dave.

author: EEVblog
author_rank: Unknown
timestamp: October 16, 2012, 05:23:59 am
content: Quote from: enz on October 15, 2012, 02:21:03 pmMost likely just standard legal disclaimer crap.i.e. don't use this as professional legal advice etcDave.

author: EEVblog
author_rank: Unknown
timestamp: October 22, 2012, 11:33:20 pm
content: The real-life soap opera continues folks!http://www.asx.com.au/asxpdf/20121023/pdf/429l0tb5qr8dj6.pdfDave.

author: HackedFridgeMagnet
author_rank: Super Contributor
timestamp: October 23, 2012, 12:21:07 am
content: He has only 20% of the shares, so it might be hard to get back in.funny thing, over the last 2 years the shareprice has suddenly started doing well. So now they kick him out.

author: gregariz
author_rank: Frequent Contributor
timestamp: October 23, 2012, 12:33:52 am
content: Typically you would need a 3/4 vote to remove the board. Mind you it depends who shows up to vote. When a guy with 20% shows up and nobody else...

author: DrGeoff
author_rank: Frequent Contributor
timestamp: October 25, 2012, 11:06:56 pm
content: Maybe Nick Martin and a few of the software engineers that were retrenched in the China move could write that low cost schematic/pcb tool that everyone has been crying out for?

author: EEVblog
author_rank: Unknown
timestamp: October 26, 2012, 12:32:29 am
content: Quote from: DrGeoff on October 25, 2012, 11:06:56 pmNot gonna happen.it would take several years just to get the basics working from scratch.The only sensible way would be to buy an existing package so you have a head-start. Or maybe even build up one of the open source packages and figure out a way to make money from services etc like RedHat et.alDave.

author: mikeselectricstuff
author_rank: Super Contributor
timestamp: October 26, 2012, 01:10:15 am
content: QuoteThe "rental" model is far worse than that - they have to take it buttwise just to keepusingthe software, not just for updates - IMO completely unacceptable for any software tool that may be needed to support legacy products.QuoteI disagree that it would take anything like that long - with the advanced software tools and graphics libraries etc. that are now available, there'd be far less work on the fiddly graphics and UI stuff than in the past, the major work would be designing a good architecture. A bit like PCB layout really - with good placement, the layout's easy. Whether it would be financially viable is a whole 'nother question of course.Quote"You're fired" ""No,you'refired""No,you'refired"etc.....Maybe ask him on the Amp Hour to vent...!

author: DrGeoff
author_rank: Frequent Contributor
timestamp: October 26, 2012, 01:24:58 am
content: Quote from: mikeselectricstuff on October 26, 2012, 01:10:15 amYeah. The old 'maintenance contract' was a real pain in the arse. Mentor Graphics knew how to screw customers royally with that one!

author: EEVblog
author_rank: Unknown
timestamp: October 26, 2012, 02:29:45 am
content: Quote from: mikeselectricstuff on October 26, 2012, 01:10:15 amI suspect the devil is in the detail.Just look at the other lower end basic packages like DIPtrace and Eagle, they are examples of maybe a decade(?) of development to get to their current point.Altium itself took a similar length of time to get what most would now consider "basic" EDA functionality.AutoTrax EDA (not the Protel one, the other one) is a benchmark example of what one guy can do on his own over maybe a decade or so.Sure, it might be easier starting from scratch today, but I suspect it's impossible to get anything decently usable from scratch in less than a couple of years with a small team of programmers, say 3-4.Sure, you could have something to show in 6 months, but it wouldn't be usable to anyone.Dave.

author: DrGeoff
author_rank: Frequent Contributor
timestamp: October 26, 2012, 02:35:48 am
content: Quote from: EEVblog on October 26, 2012, 02:29:45 amAnd these guys are already experienced in writing this software, know the traps and pitfalls and how they would design it if they got to do it all over again. It's not unrealistic as a startup to not have positive cashflow for the first 2 years.

author: HackedFridgeMagnet
author_rank: Super Contributor
timestamp: October 26, 2012, 02:38:00 am
content: QuoteI think the rental model can suit heavy apps like Altium and also Autocad.Your payment is more in synch with your use of the product. It may help save support costs because people are using fewer different versions.QuoteI agree it would take quite a while to make a product out from scratch, but this would still be preferable to trying to fix some of the other design packages going around.I would like someone to take the guts out of Paint.Net, some sort of plugin structure and all sorts of libraries and turn that into pcb design software. ie. Written in dotnet. It would be far less buggy than any design software I have used.

author: IanB
author_rank: Super Contributor
timestamp: October 26, 2012, 02:50:08 am
content: Quote from: EEVblog on October 26, 2012, 02:29:45 amI'm more inclined to go with Mike on this. The issue with software is not writing the software, but knowingwhatto write. I couldn't write a PCB layout package because I know far too little about what it should do or how it should do it. But ask me to design software in a field I do know about, and it would be a different story.It should take no longer to bring a new software product to market than it it takes to bring a new hardware product to market. If done right it should take less time, since with software you can release a limited feature edition to get customers interested and upgrade them for free as you add features (and pay for those upgrades by adding new customers). With hardware it is more a case of all or nothing as free hardware upgrades will tend to bankrupt you.

author: EEVblog
author_rank: Unknown
timestamp: October 26, 2012, 03:13:42 am
content: Quote from: DrGeoff on October 26, 2012, 02:35:48 amThat's not unreasonable.But it would be a solid two years, not a year for example.You also have to be careful with the old "this is how I'd do it if I started again" trap.If can potentially make you so focused on "doing it right", that you forgot that you may have to swallow your pride and actually shipping something that works but is not "done right yet".Sometimes "doing it right" takes so damn long, you go out of business before you can ship.Or you make the classic mistake of having spent so long "doing it right", that you then panic when you finally realise you have to "ship or die", and by then it's too late because the stuff you should have had in place through good planing, is not there, and you ship crap in the ensuing panic. The result is of course death.So it's not just a matter of knowing what to avoid and what not to avoid in code and system design etc, it's also planning the thing so you can have realistic deliverable objectives. Most developers are quite poor at this.For a new EDA tool from scratch, there is quite a bit of competition out there at the low end, so you'd have to have something at least as comparable before people decide to give your tool a try. A tough gig.If I had Nick's millions I'd simply buy an existing tool which can generate income from day one.Dave.

author: DrGeoff
author_rank: Frequent Contributor
timestamp: October 26, 2012, 04:25:20 am
content: Quote from: EEVblog on October 26, 2012, 03:13:42 amAgreed. That's why good management is required. I mean real management and leadership for a startup, not some dickhead wannabe with an MBA and a smart suit.Quote from: EEVblog on October 26, 2012, 03:13:42 amMarket analysis and business planning. Must be done before even investing a cent into the startup. If it can't fly, either modify the outcome and re-evaluate or can it.Quote from: EEVblog on October 26, 2012, 03:13:42 amOr maybe not. Find another market with real returns for your investment. CAD software probably is not that market.

author: DrGeoff
author_rank: Frequent Contributor
timestamp: October 26, 2012, 08:59:51 pm
content: Quote from: EEVblog on October 26, 2012, 03:13:42 amLenny managed to do this very successfully after getting booted from ALI. He already knew the market and players and built a much smaller, focussed company (AGT) with a smarter product.

author: free_electron
author_rank: Super Contributor
timestamp: October 27, 2012, 07:58:05 pm
content: Quote from: EEVblog on October 26, 2012, 03:13:42 amgo scuba diving the great barrier reef every day for the rest of my life and close every day with a barbie at sunset.Sod electronics and sod software.Do some fun stuff.

author: EEVblog
author_rank: Unknown
timestamp: October 27, 2012, 08:47:51 pm
content: Quote from: free_electron on October 27, 2012, 07:58:05 pmSure, but this is Nick we are talking about. He could have done that decades ago!Dave.

author: HackedFridgeMagnet
author_rank: Super Contributor
timestamp: October 28, 2012, 04:23:15 am
content: When it comes down to it, electronics for many of us is fun.Admittedly the shine does come off it a bit when you're doing it as a job too.

author: free_electron
author_rank: Super Contributor
timestamp: October 28, 2012, 06:28:33 pm
content: sure electronics is fun. it's even more fun if you can design your circuit while laying in a hammock under a coconut tree, one leg in the warm ocean with cold drink in a long-stemmed glass with a little umbrella in it by your side. Some of my best idea's came to me while i was floating in my pool. Somehow i'm convinced the idea's would even have been greater if that pool was replaced by the abovementioned warm ocean , coconut tree/hammock combination.even though i eat, breathe and live electronics i'd sign it all away to live the rest of my life worry free on some maldivian island...

author: EEVblog
author_rank: Unknown
timestamp: October 28, 2012, 09:35:44 pm
content: Quote from: free_electron on October 28, 2012, 06:28:33 pmSounds good. But it would still have to have a floating glass bottom electronics lab and kick arse net connection.Dave.

author: free_electron
author_rank: Super Contributor
timestamp: October 28, 2012, 09:52:14 pm
content: Hmmm glass bottomed floating lab. Could we patent that ? you think there may be a market for that ?it may be the next big thing ...

author: EEVblog
author_rank: Unknown
timestamp: October 28, 2012, 10:01:07 pm
content: Quote from: free_electron on October 28, 2012, 09:52:14 pmTo Kickstarter!I need a US based resident to launder all the money, you in?Dave.

author: free_electron
author_rank: Super Contributor
timestamp: October 28, 2012, 10:07:58 pm
content: Sign me up. From now on volcano-based secret labs are for have-beens !FG-BEL : The Floating Glass-Bottomed Electronic Lab. We could make a T-shirt...Do you have a FG-BEL ? ( pronounced: efgeebel )

author: Unknown
author_rank: Unknown
timestamp: October 28, 2012, 11:32:17 pm
content: Finding all those MELF parts on the glass floor might be annoying, though. Is that a tropical fish or a diode?

author: SeanB
author_rank: Super Contributor
timestamp: October 29, 2012, 04:35:20 am
content: Don't drop splashes of hot solder...........

author: EEVblog
author_rank: Unknown
timestamp: October 29, 2012, 01:48:39 pm
content: The boardroom soap opera continues:http://asx.com.au/asxpdf/20121029/pdf/429rqkf19f9x07.pdfhttp://asx.com.au/asxpdf/20121029/pdf/429rqm2jwtvcd4.pdfDave.

author: olsenn
author_rank: Frequent Contributor
timestamp: October 29, 2012, 02:31:16 pm
content: WOW! It looks like shareholders are pissed at this years end financial report. Not only has Nick been fired, but his immediate replacement, Kayvan, and four other members of the board of directors are under a vote to be removed!"The directors of the company RECOMMEND that you exercise your right to vote and that you VOTE AGAINST ALL RESOLUTIONS" -- Kayvan OboudiyatNo shit; five of those resolutions are to can five board members (including Kayvan)... no wonder the board wants stakeholders to vote against all resolutions!

author: free_electron
author_rank: Super Contributor
timestamp: October 29, 2012, 04:27:59 pm
content: it looks like Martin disputes his dismissal from the company so the board submitted to remove Martin through shareholder voting.As a counteraction Martin submitted, through Martin holdings (through which holds more than 5% of the shares) , a proposal to boot out the 5 others..i see chairs flying ...

author: mikeselectricstuff
author_rank: Super Contributor
timestamp: October 29, 2012, 06:21:04 pm
content: So Dave, how about hanging around outside the meeting with your camcorder...?

author: DrGeoff
author_rank: Frequent Contributor
timestamp: October 29, 2012, 07:51:11 pm
content: Boardroom stoushes tend to get nasty on a political and personal level. Time to flush the entire board.Think I might go down to this AGM this year and see what happens.

author: JuKu
author_rank: Frequent Contributor
timestamp: October 29, 2012, 07:59:38 pm
content: If I would live there, I'd buy a share just to be able to attend!

author: sacherjj
author_rank: Frequent Contributor
timestamp: October 29, 2012, 09:30:06 pm
content: Quote from: JuKu on October 29, 2012, 07:59:38 pmYou can buy 6 or 7 shares for the cost of a popcorn at the theater. And you wouldn't even need to buy a ticket for the show.

author: EEVblog
author_rank: Unknown
timestamp: October 29, 2012, 10:01:40 pm
content: Quote from: free_electron on October 29, 2012, 04:27:59 pmI wonder what happens if the shareholders vote to boot Martin out, AND the entire board?Does the company instantly implodeDave.

author: DrGeoff
author_rank: Frequent Contributor
timestamp: October 29, 2012, 10:35:54 pm
content: Quote from: EEVblog on October 29, 2012, 10:01:40 pmThat would be the ideal resolution. The board is now poisoned and having failed to deliver any shareholder value over the last decade you'd have to question why they are still there.There should be an article in the constitution that covers this kind of event. Shareholders would need to vote in a new board. There are many professional directors whose occupation is to direct companies that would fill the positions.

author: olsenn
author_rank: Frequent Contributor
timestamp: October 29, 2012, 11:10:50 pm
content: It actually sounds like a good time to buy stock. I bet it's dirt cheap at the moment, and if the new board stays, and not Mr. Martin, the focus is going to change to returning value to the share/stock-holders....Maybe we'll even get an Altium Designer Student Edition!

author: mikeselectricstuff
author_rank: Super Contributor
timestamp: October 30, 2012, 12:32:59 am
content: How about a kickstarter to buy up all the stock and open source everything...

author: EEVblog
author_rank: Unknown
timestamp: October 30, 2012, 12:46:09 am
content: Quote from: olsenn on October 29, 2012, 11:10:50 pmNo, it's not cheap. If you wanted cheap you should have bought about a year ago when it hit 8 cents (it's now almost a $1).But there wasn't much volume back then, so it likely would have been difficult to buy significant volume at that price.Iknewthe price had to rise, as the company was almost cash value at that point, but I didn't buy.http://hfgapps.hubb.com/asxtools/Charts.aspx?asxCode=ALU&compare=comp_index&indicies=0&pma1=0&pma2=0&volumeInd=9&vma=0&TimeFrame=M3Dave.

author: EEVblog
author_rank: Unknown
timestamp: October 30, 2012, 06:53:36 am
content: Quote from: wilfred on October 30, 2012, 06:19:53 amActually, it was as close to a bargain as you can get on the stock market, as it was approaching the cash value of the company, the holy grail of low risk share investments. Essentially valuing all the company's IP and it's good will and customer baser at zero. Almost to the point of "you can't lose", barring all customers suddenly stopping renewing and the sales drying up.But of course you had to know the market, and that the customers are loyal and pretty much locked into the product. The average investor would not have known that.But yes, if you were in it for the short term, it was always going to be a wild ride.Dave.

author: DrGeoff
author_rank: Frequent Contributor
timestamp: October 30, 2012, 07:02:15 am
content: Quote from: EEVblog on October 30, 2012, 06:53:36 amA purely speculative stock, as it hasn't produced any yield. Might as well buy mining shares.

author: HackedFridgeMagnet
author_rank: Super Contributor
timestamp: October 30, 2012, 08:15:53 am
content: I wish I had seen that graph last year.

author: JuKu
author_rank: Frequent Contributor
timestamp: October 30, 2012, 08:39:25 am
content: Quote from: EEVblog on October 29, 2012, 10:01:40 pmAt least here, the meeting would not actually boot the board, it would elect a new board. The old board getting fired is just a consequence.

author: EEVblog
author_rank: Unknown
timestamp: October 30, 2012, 08:48:55 am
content: Quote from: DrGeoff on October 30, 2012, 07:02:15 amNot even close to being the same.Altium is a company that consistently generates $50M/year in revenue, has no debt, and has always had cash in the back. And at the time of it being 8 cents, that was essentially getting close to the cash value of the company (80M shares/$0.08 approx = $6M cash they had). So unless the sales suddenly tanked (unlikely), there was nowhere the company could go on the downside for the near future.How far it would go back up, and when, was yes fairly speculative. But it was very low risk IMO.And yes, Altiums dividends have been almost non-existent over the last decade, you wouldn't have bought it for that.Dave.

author: sacherjj
author_rank: Frequent Contributor
timestamp: October 30, 2012, 02:57:11 pm
content: Quote from: EEVblog on October 30, 2012, 08:48:55 amYou're telling us this now?!?!?

author: DrGeoff
author_rank: Frequent Contributor
timestamp: October 30, 2012, 10:43:28 pm
content: Quote from: EEVblog on October 30, 2012, 08:48:55 amAll of this is only valuable to a shareholder if it is returned to the shareholder as either dividends or capital growth. The fact that dividends were not being distributed and the share value had been eroded to a tiny percentage of its original value demonstrates significant failings at the board and executive levels.

author: EEVblog
author_rank: Unknown
timestamp: October 31, 2012, 01:52:09 am
content: Quote from: DrGeoff on October 30, 2012, 10:43:28 pmNo doubt.Altium pissed away $100M+ and 10 years on their FPGA dream that returned essentially zero value for the company.Imagine what would have happened if that money went into basic core PCB/SCH stuff like high speed design tools etc. They would be world leaders without compare.Dave.

author: DrGeoff
author_rank: Frequent Contributor
timestamp: November 01, 2012, 04:27:00 am
content: Well what do you know. Altium paid a dividend of 5cents per share. Must be the first dividend I've had from them. Maybe they are hoping to curry favour at the AGMImagine paying 8c per share and receiving a 5c dividend. Sort of pays for itself. Wonder how sustainable this is?

author: EEVblog
author_rank: Unknown
timestamp: November 01, 2012, 05:36:05 am
content: Quote from: DrGeoff on November 01, 2012, 04:27:00 amThe share price of course wasn't 8 cents when they paid that dividend.But yes, they are trying to "return shareholder value" for a change.Dave.

author: DrGeoff
author_rank: Frequent Contributor
timestamp: November 27, 2012, 12:58:36 am
content: Anyone heading down to the Altium stoush on Thursday?

author: EEVblog
author_rank: Unknown
timestamp: November 27, 2012, 11:55:43 am
content: Quote from: DrGeoff on November 27, 2012, 12:58:36 amI don't have shares, I guess I'm not allowed?Dave.

author: JuKu
author_rank: Frequent Contributor
timestamp: November 27, 2012, 12:06:35 pm
content: Quote from: EEVblog on November 27, 2012, 11:55:43 amI'd spend a few cents just to get in.

author: HackedFridgeMagnet
author_rank: Super Contributor
timestamp: November 27, 2012, 01:46:42 pm
content: If you know someone with shares I think you can arrange to be their proxy.I'm sure you could add something to the event Dave.

author: AlfBaz
author_rank: Super Contributor
timestamp: November 27, 2012, 02:08:19 pm
content: Should get a bunch of us who live in these parts to show up at the front with placards chanting "PISS THE CLOUD OFF, PISS THE CLOUD OFF"

author: mikeselectricstuff
author_rank: Super Contributor
timestamp: November 27, 2012, 02:12:09 pm
content: Quote from: EEVblog on November 27, 2012, 11:55:43 amNothing to stop you hanging around outside with the camera & doing some interviews ( or just looking to see who looks the most pissed off).In practice I bet you could probably bluff your way in....

author: notsob
author_rank: Frequent Contributor
timestamp: November 27, 2012, 02:22:36 pm
content: Organize a flashmob meeting outside & do a blog , my meeting is bigger than altium's meeting.

author: DrGeoff
author_rank: Frequent Contributor
timestamp: November 27, 2012, 07:53:49 pm
content: It's the EGM meeting after the AGM meeting that will be interesting.

author: EEVblog
author_rank: Unknown
timestamp: November 27, 2012, 09:52:31 pm
content: Quote from: notsob on November 27, 2012, 02:22:36 pmIt would suck if no-one from Altium turned up apart from the secretary to count the votesThey are all in China after all.Dave.

author: DrGeoff
author_rank: Frequent Contributor
timestamp: November 27, 2012, 10:05:43 pm
content: I don't think they could risk that, given that the an attempt to dismiss the board is immediately after the AGM. If they did not show that would be a real 'no confidence' signal. If Nick showed and no-one else then he could lobby for his motions and they could not counter.

author: DrGeoff
author_rank: Frequent Contributor
timestamp: November 29, 2012, 04:16:49 am
content: Got an interesting letter from Nick Martin today.Claims that the current board have steered the Altium ship irreversibly in another direction from his own envisaged strategies. Sounds like he's withdrawn the immediate attack on the board at the EGM and is making demands on their performance over the coming FY.

author: EEVblog
author_rank: Unknown
timestamp: November 29, 2012, 05:22:37 am
content: Quote from: DrGeoff on November 29, 2012, 04:16:49 amGOOD!And Nick's (former) good buddy Aram (Morfik), whom he bailed out, is now heading the shipQuoteDid you go to the AGM?Dave.

author: DrGeoff
author_rank: Frequent Contributor
timestamp: November 29, 2012, 05:44:19 am
content: Quote from: EEVblog on November 29, 2012, 05:22:37 amHe he.It appears that it was Nick's strategy to "move from designing standalone electronic devices to developing a cloud-connected network of devices" according to the letter. And the board has chucked it overboard with him.Quote from: EEVblog on November 29, 2012, 05:22:37 amI had planned to but then a load of urgent work appeared yesterday afternoon, so unfortunately did not make it. No doubt there will be further communications after the outcome of today's melee.

author: EEVblog
author_rank: Unknown
timestamp: November 29, 2012, 11:51:18 am
content: Quote from: DrGeoff on November 29, 2012, 04:16:49 amI read the letter and it's an absolute hoot!Nick has also hinted that he is going to start a new development (new company presumably) on his "ecosystem of connected devices" dream. Good luck.It can work, in many niche areas, but not if you think you are going to be the be-all-end-all solution and own the whole market.And certainly not for an EDA company that earns almost all it's revenue from their PCB tool. The board did the right thing, Nick's direction would not have worked for Altium, and that was clear to everyone but Nick it seems.Dave.

author: mikeselectricstuff
author_rank: Super Contributor
timestamp: November 29, 2012, 12:40:11 pm
content: Quote from: EEVblog on November 29, 2012, 11:51:18 amHave you invited him on the Amp Hour yet?

author: DrGeoff
author_rank: Frequent Contributor
timestamp: November 29, 2012, 11:31:51 pm
content: Quote from: EEVblog on November 29, 2012, 11:51:18 amWasn't it just! However some sense may now start to appear in the goodship Altium. They may even follow the lead of other major software companies in niche software tool markets and stop being preoccupied with stupid 'subscription' plans which are nothing more than the old 1980's 'maintenance plan' using a different name.

author: olsenn
author_rank: Frequent Contributor
timestamp: December 03, 2012, 03:19:39 pm
content: So has it been confirmed that the resolution to boot Nick out was passed, and/or that Nick's motions to get rid of the other 5 was declined?

author: free_electron
author_rank: Super Contributor
timestamp: December 03, 2012, 04:59:19 pm
content: Internet of connected things is a software hardware platform. Altium is a cad tool ... Good.Make ioct a separate product ( development station). Altium should focus on being a cad tool, thats what it does best.