Seeking Alpha

I.D. Systems CEO steps down; founder to act as interim CEO

  • I.D. Systems (IDSY -3.7%) chairman/CEO Jeffrey Jagid has resigned from both positions. He's expected to remain on the company's board for the current term.
  • Founder/president Kenneth S. Ehrman has been named interim CEO. I.D.'s board has begun a search for a permanent replacement.
Comments (4)
  • dbt01
    , contributor
    Comments (592) | Send Message
     
    This news is 9 hours late. It was announced at 8am, you put out 16:47

     

    Jagid was fired. Pure and simple
    3 Mar 2014, 04:50 PM Reply Like
  • dbt01
    , contributor
    Comments (592) | Send Message
     
    Now off the BOD as well. Yet given 18 month's severance and accelerated options/restricted shares vesting. 15 months to exercise options.

     

    Egregious. This guy will have to live off this money for the rest of his life. No public company will ever take him in. He lied to shareholders re the Avis deployment.
    28 Mar 2014, 01:42 PM Reply Like
  • juimh123
    , contributor
    Comments (7) | Send Message
     
    Wait what did jagid do to get him fired? I tried googling his name and couldn't get much information.
    19 Dec 2014, 09:00 AM Reply Like
  • dbt01
    , contributor
    Comments (592) | Send Message
     
    He did the bad deal with Avis. All the money paid to IDSY was a balloon payment. He gave them a non-compete. There was no protection to IDSY if Avis bought an IDSY competitor (ZIPCar). He devoted all his time to Avis rather than other customers. He let other development languish. He was overpaid. He lied as to progress with Avis saying the deal was right around the corner

     

    Ehrman took control and fired him and the BOD
    19 Dec 2014, 09:10 AM Reply Like
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