I don’t know how many of you are aware that my company was undergoing some serious turmoil in the past few months.
A group of dissident shareholders engaged in a proxy battle with Creo. This means that they forced a vote at our annual meeting for control. They wanted to dissolve our board, fire our CEO, and put one of their own at the helm. They promised a major reorganization, including significant cost cuts, particularly in research and development. Research and development is what engineers do.
The meeting was to be held on February 10. Things were looking pretty dicey, and it seemed like the proxy vote could go either way. I was particularly worried, because of my approaching maternity leave, which isn’t due to start until the end of March. If I get laid off before my leave, that would be very bad. I would still receive my government benefits, but I would lose significant income from Creo’s benefits and top-up plan. We would have to pay for health insurance out of pocket, for example. Not good.
Today, though, we signed an agreement to be purchased by Kodak. This is good news for me, because Kodak wants to keep Creo more or less intact. This is also good news for me, because they will have a generous buy-out program for our options, which could mean a nice chunk of change if everything is approved at our rescheduled meeting on March 29.
So, the kid will have food and clothes and all that good stuff, for the foreseeable future. Yay!