Over the years, we have reported on some very high salaries at Lighting Science Group, but we hope their web designer is well paid because of the constant updates to the LSG website—not for new products, but for new people.
Yesterday, EdisonReport confirmed the departure of LSG’s president, Jennifer Sethre. Today, we have put together a spreadsheet of the revolving door of leadership.
Title |
Name |
Start |
End |
Days |
Chairman and CEO |
Zach Gibler (deceased) |
Jun-07 |
Jan-11 |
1310 |
Chairman and CEO |
Jim Haworth |
Apr-11 |
May-12 |
396 |
Interim CEO |
Steve Marton |
May-12 |
Jan-13 |
245 |
CEO |
Jeremy Cage |
Jan-13 |
Nov-13 |
304 |
Chief Restructuring Officer |
Vincent Colistra |
Nov-13 |
Feb-14 |
92 |
Interim CEO |
Richard Davis |
Feb-14 |
current |
|
President |
Jennifer Sethre |
Feb-14 |
Jul-14 |
163 |
Rather than use exact dates to compile the report, we listed month and year. The dates came from past EdisonReport articles as well as linked-in accounts. The average stay is 418 days. But if you exclude Zach’s 1310 days, which seems to be an anomaly, then the average term drops to 240 days.
I interviewed Jennifer at LIGHTFAIR 2013 and was impressed by her knowledge and her toughness. I asked her to tell me about her decision to join Lighting Science, “a troubled company.” She responded, “There you go. Look at your question. But I’ll answer it.” And she did. Next, I said, “If ‘troubled’ company is not the right word, perhaps a company in turmoil is a better description. I heard you are running out of cash.” She responded, “You heard wrong.” She was bold, emphatic, and convincing.
If Lighting Science is not running out of money, we can’t understand why so much turnover at the top.
Our calls to Lighting Science Group and to Pegasus Capital, one of their investors, have not been returned.