I’ve been keeping this quietly bottled up for a while, but today I got the rest of the information that is making it boil over into anger.
My company, as part of a licensing deal, agreed to certain timelines and for those...they were to receive milestones worth $8 million. As part of the profit sharing agreement, those milestones would be worth about $120k to me as a bonus.
Well, the senior management decided to get clever for the partner and tried to do something they thought would mean more money...but they made a decision based on their lack of knowledge of how FDA works. Because they didn’t bother consulting me (I have 30 years experience with FDA) they made a choice to go ahead with a stupid plan that has blown up in their face.
They missed the first milestone date and it cost $5 million of the expected payments. In 3 days they will miss the next one...and it will cost the remaining $3 million in payments.
Just like that, the amateur leaders that think they are the smartest people in the room, failed to consult their own experts...and it cost me $120k.
Dumbasses. They all deserve to be fired.
