CEO Admits to Financial Loss Following Overconfident Investment Decision
Interviewer: “Mr. CEO, thank you for being here today. We’re here to discuss your recent disclosure to the SEC, where you outlined your 2023 guidance. Our viewers are keen to know why you lied about two specific points in the document. Could you please explain?”
CEO: “Yes, of course. To be honest, it was an embarrassing situation. I was under pressure from the board to meet analysts’ expectations for 2023, so I overstated certain points regarding our free cash flow as well as the growth projections for each business line. I didn’t lie intentionally, but instead I allowed myself to become overconfident in our projections. To make matters worse, I invested too heavily in certain areas without doing enough due diligence. As a result, the investments ended up being busts, and the company lost a substantial amount of money, doing lasting damage to our reputation in the market.”
Interviewer: “That must have been difficult. How did you learn from the experience?”
CEO: “Well, I learned a valuable lesson in humility. I realized that no matter how confident I am in our plans, I should always take the time to thoroughly research and evaluate our investment opportunities. As a result, we now have a much more rigorous process in place to make sure that we are making smart, data-driven decisions. We are also working hard to rebuild our reputation in the market, and I have personally made it my mission to ensure that we open up and be transparent about our operations and strategies to the public. We take our responsibilities to the market very seriously, and we will continue to strive to ensure that our decisions are based on facts, not assumptions.”
Interviewer: “Thank you for your candidness. Is there anything else you’d like to share about the experience?”
CEO: “Yes, I’d like to take this opportunity to reassure everyone that we have made adjustments to our corporate structure and decision-making process to ensure that we are doing the best we can to make sure that situations like these never happen again. My goal is to make sure that VINCI is seen as a trusted and reliable partner in the industry.”
Original Release: https://www.globenewswire.com/news-release/2023/02/14/2607946/0/en/Update-regarding-2023-guidance.html