Classic Flem flip-flops to investors, board and employees:
"Ahem...
- The last CEO was an idiot for having businesses separate. We need one Shire to simplify the organization and create cost savings. One ruler over all.
- Wait, what we really need are great brands. Xiidra is going to best the greatest brand the company has ever known and Allergan hasn't got a chance...I am so confident we will buy billboards next to Allergan's HQ and celebrate our brilliance before and immediately after we launch.
- Forget that and don't talk about Xiidra any more... Hemophilia is a hidden gem and so valuable it is worth all we paid for it and much, much more. You wait and see, that Roche stuff is all hype.
- Forget that and don't talk about it anymore... Immunology is actually a hidden gem and was just an amazing buy. I was just kidding when I downplayed and bad mouthed it at purchase. I knew all along it had true potential. How much upside you ask?!? Wait...
- Okay forget Immunology what we really need to do is split up the company. Yes, that is just the thing to get us where we need to be. Neuro has got to go, and I will pack in some other tidbits that have nothing to do with Neuro while I am at it because I don't like them. We will only be a pure rare disease company except for my favorite mass market pet products that I will keep but pretend nobody notices.
- Okay forget all that...What we really, REALLY need to do it separate out the businesses into different operating units so that we can have strategic clarity and focused management and execution. This is a much better way to organize and I am actually surprised I didn't come up with this idea earlier. This is definitely the way forward.
I am so proud of myself as I always stay three steps ahead of my management team and five steps ahead of my employees."
- FO
Okay Flem, we are all lost and the stock price is sending a clear message.