I founded and led LivePerson as CEO until August 2023, and remain a significant stockholder. Moreover, LivePerson’s employees, customers, and business partners who are committed to LivePerson’s original strategy of innovation deserve all of our loyalty. The company grew for almost 28 years and was in a pole position to capitalize on massive changes in the AI space. Today, a company that was listed as Fast Company’s #1 AI company in 2022 is, just twenty-four months later, trading as a $1 stock. This is unacceptable.
LivePerson is in crisis and the business, so painstakingly and successfully built over 28-years, is at risk of losing more customers and key employees. This public forum was created to connect with other LivePerson stakeholders and share our joint concerns.
LivePerson has turned away from the strategy of innovation that created value for stockholders, inspired employees and made us the partner of choice for some of the world’s largest brands that shared our commitment to innovation.
The current Board doesn’t understand LivePerson’s business, including what drives customer acquisition and retention, and their interests are not aligned with those of stockholders. Unfortunately, the current Board is focused on an agenda imposed by persons who aren’t even shareholders anymore and has forgotten what originally drove LivePerson’s success.
On the day after LivePerson’s February 28, 2024 earnings call, the trading price for LivePerson’s stock fell by 47% in one day. Just since August, the company has lost almost 90% of its value. That is clear evidence that the public market has lost confidence in LivePerson’s leadership.
The first step towards regaining confidence is to reconstitute the entire Board. LivePerson’s stockholders deserve to have directors whose interests are aligned with theirs. The Board needs directors who actually own substantial equity in the company. Even with the recent precipitous drop in share price, only one board member bought stock, and it was a small amount. This clearly shows that the directors don’t have faith in their own strategy.
We need directors who are “owners” and are committed to preserving and increasing value for other current stockholders. The market has delivered a clear vote of no confidence in current leadership of the company and regaining the market’s confidence starts with replacing them.
This is your company, and your voice really matters. So please participate here, and more importantly, let the Board hear from you!
You can share your thoughts by filling out contact form.
Stay tuned . . .