Earlier this month, several top level executives at Point2 Agent — a leading provider of real estate web solutions — left the company.
Point2 Technologies Inc. (“Point2”) today announced the resignation of members of its team last week…
So the five investors at Point2 cleaned house of about 10 percent of its workforce, including upper management, and is starting over with a veteran of the real estate industry at the helm.
(My emphasis in both snips)
So, this begs the question….
Did these executives quit by their own volition, or were they fired by the “investors” in Point2? (Point2 is a privately held company — hence they have investors, not shareholders or a formal Board of Directors who answer to shareholders).
Given Ms. Evan’s reporting, I can only see three possible scenarios:
1) The Point2 executives quit of their own free will, and Blanche Evans misreported.
2) Ms. Evans is correct, the execs were “fired” by the Point2 investors. If this scenario is correct, given the Point2 verbiage in their press release, then it would appear that the executives in question were, “asked to resign” — as often happens when an executives employment is terminated.
3) I am completely misinterpreting the term “cleaned house” and Ms. Evans simply means they resigned. To me, this seems the least likely of these three scenarios. Ms. Evans is a highly regarded journalist and I just can’t see her choosing a term like “cleaned house” when “resigned” would be more accurate.
Does it really matter? I don’t know. In the grand scheme of things, the bottom line is the seven executives who left, for whatever reason and by whatever avenue, are gone.
However, when the Editor of RealtyTimes, the “Internet’s largest independent real estate news service” strongly implies they were terminated, it is an interesting little tidbit and it definitely makes one sit back and say, “Hmmmm”…
[tags]Point2, Blanche Evans, RealtyTimes, Things that make you say hmmm[/tags]