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We are concerned by the track record of new CEO of Valmie Resources

by | Apr 11, 2016

  • BASICS
  • M. Cap: $666 million
  • Valmie Resources, Inc. is a mineral exploration company exploring for precious metals, that is, gold and silver targets.
  • On December 8, 2014, the Company appointed Gerald B. Hammack as the Chief Executive Officer.
  • SIGNIFICANT SITUATION AT THE TIME OF APPOINTMENT

Huge CEO turnover: Mr. Hammack is the fourth CEO in the last three years.

  • TRACK RECORD OF NEW CEO

Concerns

  • Lack of relevant experience: Valmie Resources, Inc. is an exploration stage company. Currently, the company has not generated any revenue. Even though Mr. Hammack has 30 years experience in a variety of technology related fields, he does not have any experience in the mineral exploration industry.
  • Worked from home: Hammack claims that he was operating from his home and has performed many different roles for various companies, from Voice over IP style telephony using open source products, custom programming, through general business consultation and project management.
  • BIO OF NEW CEO

Mr. Gerald B. Hammack is President, Chief Executive Officer, Chief Financial Officer, Treasurer, Secretary, Director of Valmie Resources, Inc. He has more than 30 years of experience in a variety of technology-related fields, including programming, digital telephony, database management as well as substantial expertise in the setup and management of complex data processing systems. From 2008 to the present, he has acted as the Managing Director of Wizard Technical Services, a boutique firm located in Cushing, Texas, focused on the development of customized technology solutions for a diverse client base, including the development and management of a cloud-based Internet telephony solution for a niche telephony service provider as well as offsite management and oversight of legacy hardware and software systems. Prior to 2008, Mr. Hammack served as the Director of Technical Services for the Orleans Parish Criminal Sheriff’s Office (OPCSO) in New Orleans, Louisiana. While holding the rank of Captain, Mr. Hammack’s experience and dedication were instrumental in restarting OPCSO’s operations after the devastation of Hurricane Katrina.

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