The client (under NDA) was looking for someone to help them fix their sagging stock price, which was lagging behind their peers despite several quarters of beating consensus estimates.

Management had a history of over-promising and under-delivering, which we needed to correct. Also, the business model transition created a layer of opacity that only increased disclosure, and new KPIs could solve.

After many years of disappointing results, investors lost interest in this company. Additionally, the company’s financial disclosures made it impossible to see all the changes going on “under the surface.”