Home Business Would You Invest With Net Element’s CEO Oleg Firer?

Would You Invest With Net Element’s CEO Oleg Firer?

When you purchase through our sponsored links, we may earn a commission. By using this website you agree to our T&Cs.

Barron’s recently published an article raising serious concerns about the management of Net Element (NETE) including its CEO, Oleg Firer.  We advise investors to closely read this article before buying NETE stock.

Q1 hedge fund letters, conference, scoops etc, Also read Lear Capital: Financial Products You Should Avoid?

We thought it would be interesting to analyze how NETE shareholders have done under Firer’s leadership and how he personally has done during the same time period.  What we found is that since Firer became CEO in April of 2013, NETE’s stock price has fallen 97%. Even more amazing is that while shareholders suffered staggering losses during this period, Firer personally benefitted by receiving compensation of $13.6 million during this period.

The below table illustrates Firer’s total compensation by year since Firer became CEO:

Year Total Compensation
2013 $0.4 million
2014 $2.8 million
2015 $4.1 million
2016 $4.2 million
2017 $2.1 million
Total $13.6 million

The below table illustrates the change in NETE’s stock price since Firer became CEO:

Date Change in Stock Price
Dec. 31, 2013 58%
Dec. 31, 2014 (59%)
Dec. 31, 2015 (93%)
Dec. 31, 2016 (97%)
Dec. 31, 2017 (96%)
May 14, 2018 (97%)

Considering how poorly NETE shareholders have fared under Firer’s tenure and how well he personally has done, we wonder why any shareholder would invest with him.  We also wonder why the Board’s Compensation Committee continues to reward Firer with such compensation considering how poorly the stock price has performedThen again, we have lots of questions for the Compensation Committee which includes James Caan, the 78 year old actor (about whom NETE says “We believe that Mr. Caan’s tenure working as an actor and director in the film and television industry, qualifies him to serve as a director of the Company “) and of Jon Najarian of CNBC (whom as this story explains, we believe has committed securities fraud by failing to file Form 4s for NETE stock he claims to have purchased).

SHORT NETE

Our Editorial Standards

At ValueWalk, we’re committed to providing accurate, research-backed information. Our editors go above and beyond to ensure our content is trustworthy and transparent.

Guest Post
Editor

Want Financial Guidance Sent Straight to You?

  • Pop your email in the box, and you'll receive bi-weekly emails from ValueWalk.
  • We never send spam — only the latest financial news and guides to help you take charge of your financial future.