OTTAWA, CANADA; April 30th 2015 – During a press conference held at their world headquarters in Ottawa, Canada, FrameFlow announced that it has appointed Elon Musk as President and CEO.
As the news broke, trading was nervous on major world markets as analysts struggled to understand how this might affect ongoing operations at Telsa Motors and Space X, two major corporations that were previously the focus of Mr. Musk’s efforts.
When approached as he entered the campus of Telsa Motors Mr. Musk offered a conflicting view. He was quoted as saying, “Look, I don’t know who these guys are but if you are talking to them please tell them to stop calling. My assistant has blocked their phone number but they keep getting through using different crazy VOIP companies. I’m not helping them in any way, now leave me alone.”
FrameFlow officials seemed undeterred. Former President and CEO Donald Leclair issued a statement saying that “it will be difficult to hand over the reins of the company I single-handed founded to an unproven outsider like Mr. Musk but this is a decision that the Board has taken and I respect that.”
Publicly, FrameFlow representatives indicated that Mr. Leclair would continue to play an important role in the corporate structure and strategy. That said, several media outlets have published interviews with current and former FrameFlow employees who offered differing opinions. One individual, who declined to be identified by name, was quoted as saying “The bungled acquisition of Google was his first misstep but the move into orthopedic undergarments was the last straw. He had us wearing them at every board meeting. Some of us could hardly breathe!”
The markets seem to have confirmed this view. Much like the dotcom boom and bust of 2001 – 2003, the orthopedic garment industry has seen a severe and unexpected collapse. FrameFlow shares (NASDAQ:FRMFLW) have plummeted by 85% since the company announced the move into the orthopedic garments space and analysts say the bottom is nowhere in sight.
However, if any individual can perform a turnaround miracle, business insiders agree that Elon Musk has the required skills and is FrameFlow’s best hope.
More from FrameFlow Newswire: