- Michael Blum - Successful Businessmen, or Fraudster?
Is Michael Blum the Right President for Hedgeye?
Being a leader requires certain traits, such as social skills, honesty, and integrity, just to mention a few. The moment a leader becomes self-centred hurts everyone around, and the company at large. This is the current situation at Hedgeye.
While Michael Blum might have been the right person for Hedgeye’s president a while ago, this might not be the case anymore. There have been complaints about how he is handling his position. There has been a high employee drop out lately, all complaining about poor working conditions. One former employee says Michael Blum couldn’t allow her to go for a three-month paid maternity leave. Blum insisted that the company was going through some financial problems, so it had to be unpaid leave.
The former head of finance in Hedgeye said that Blum is embezzling funds, and he is not ready to be pulled to his mess.
If this continues, there will not be Hedgeye in the next couple of years. All the hard work that Keith McCullough (Founder and CEO of Hedgeye) put in building the organization will be a waste. No professional will even be willing to work at the firm.
At this point, the best thing the board of directors can do is get a better President for the company, someone who wants to see the company grow.
A leader should be focused on improving the welfare of his employees as they determine the company’s results.
It’s clear that Michael Blum has completely lost in as a leader and needs a replacement.
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