Irv Grossbeck
๐ค SpeakerAppearances Over Time
Podcast Appearances
And I said, no, I'm not selling.
And that was at the center of it.
If I wasn't going to be there, it wasn't because of me.
It was because of the signal that unloading a bunch of my stock would have sent.
Well, you referred a couple of minutes ago to the fact that there was no one dominant investor.
However, my impression is that they do act as a group.
on occasion.
And they're loosely referred to at Asurion as the sponsors.
And the players in the sponsor group do change over time.
But I wouldn't say it's just people with a series of minority investments.
There is a coordination among them
They do confer fairly regularly.
I would say it kind of straddles the line between having sold control and not having sold control.
I think there are times when, to my eye, they seem to exercise their collective power, and other times when they didn't.
They're all high-quality entities over the years, and...
have all done well.
And I remember having a conversation with Kevin at the time, just prior to the closing, and said, Wow, you know, you're selling 55% to this group of people, and there have to be some changes and their agendas and yours won't always match.
He said, yeah, I know, I understand.
I think this is the right thing to do.
Now back to your original question, how have the board dynamics changed?