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Spotify CFO cashes in £7.2M in shares after value surges on news of job cuts

theguardian.com

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Re: Spotify CFO cashes in £7.2M in shares after value surges on news of job cuts

#23

Post by Ekaros »

chpatrick wrote: post #13

Spotify is a for-profit enterprise and if laying people off is the right financial choice then he's doing his job well. He can sell his shares when he feels like it.

Also clearly the buyers of these shares think it was right decision. As otherwise they would not be buying at this price.

Re: Spotify CFO cashes in £7.2M in shares after value surges on news of job cuts

#24

Post by blibble »

Ekaros wrote: post #19
blibble wrote: post #8

Earlier quoted context omitted.

not smart enough to realise that the transactions are public and it may end up in the press completely destroying their reputation in the process

Couple millions for me would be completely worth my reputation... And how badly will this reputation prevent getting the next job?

looks really quite bad for a CFO

any other officer it would probably wouldn't have any effect

Re: Spotify CFO cashes in £7.2M in shares after value surges on news of job cuts

#25

Post by mimikatz »

rogerkirkness wrote: post #2

Why do so many tech executives seem to make the actual worst decisions possible when it comes to symbolic leadership?

Executives aren't able to time their sales of stock to events and they shouldn't be able to as it would lead to more manipulation. It is likely the sale of stock was planned ahead of the layoff announcement timing.

Re: Spotify CFO cashes in £7.2M in shares after value surges on news of job cuts

#28

Post by idontpost »

lantry wrote: post #17
dboreham wrote: post #12

Earlier quoted context omitted.

That's not the nature of a CFO.

"the nature of a CFO" makes it sounds like some kind of mystical force. It's not! it's just humans making decisions. They can choose to be greedy or not.

[dead]

Re: Spotify CFO cashes in £7.2M in shares after value surges on news of job cuts

#30

Post by webkike »

candiddevmike wrote: post #21

Isn't this considered insider trading? You'd think there should be a blackout period around any kind of layoff, similar to how they do with earnings.

How is it insider trading? He sold the stock after the material became public knowledge. He didn't have any insider information
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