Transcript

00:00:00 - [CASEY_CAVANAUGH]
On. Sorry to schedule over some time for you, Sean.

00:00:03 - [SHAWN_REMICK]
It was fine. We made a move. Hey. Before we get into the IT, could I ask a quick favor?

00:00:08 - [CASEY_CAVANAUGH]
Yes,

00:00:08 - [SHAWN_REMICK]
opposed to I'm gonna send out an updated version of your meeting and have you cancel yours so that we can record it and transcribe it unless you have that capability. But I don't

00:00:19 - [CASEY_CAVANAUGH]
I do not have that capability.

00:00:21 - [SHAWN_REMICK]
Okay. So

00:00:21 - [CASEY_CAVANAUGH]
please Yeah. No problem. I'll cancel it right now.

00:00:24 - [SHAWN_REMICK]
I just named it updated, added all the same people, and then made it recording eligible so that we can Cool. Think it's just been super helpful to have the recordings of all these meetings as we're kinda inching through. So I appreciate that.

00:00:35 - [CASEY_CAVANAUGH]
Yeah. No. Agree. Having the having the AI notes are good as well.

00:00:44 - [SHAWN_REMICK]
Hang on just a second.

00:00:56 - [CASEY_CAVANAUGH]
Alright. Cool. Well, I just wanna make sure that us

00:01:00 - [SHAWN_REMICK]
I'm aware. Very aware.

00:01:01 - [CASEY_CAVANAUGH]
Three are on the same page given all the conversations last week. I know, Scott, you were running a little bit late given a conflict with the legal team to the conversation we had with Matt, and then I had to run out to head to the mountain. And I was skiing the last couple days. So my understanding is we have a little bit of concern with the transition of the assets, making sure the data is gonna be clean, and just to watch out with some of the behaviors that we're seeing with some of the key leaders. And, therefore, I believe we made the decision to actually require all assets, the personal PCs to be transferred to Indiana for, your IT team to manage the disposition and subsequent salvage sale. Are we are we aligned on that? Anything I'm missing?

00:02:04 - [SCOTT_WARNER]
Does that sound right, Shawn, from what we were looking for?

00:02:07 - [SHAWN_REMICK]
Yep. Yep. I would agree. I would probably advocate that we don't bring that up in this meeting, though.

00:02:15 - [CASEY_CAVANAUGH]
Okay. Yeah. Tell tell me if I'm walking into anything. The the people that we have in the meeting are us three and Pascal, which I think all of us are pretty much on the same page. Patrick, who's a finance leader, I don't know if you've worked with him very much, Sean.

00:02:35 - [SHAWN_REMICK]
Yeah. I I just think we need to and we talked a little bit about strategy on this late last week with Scott. I I would advocate that we make sure that Philip knows first and that Jeremy is getting his information from Philip, and then we can operationalize this. But

00:02:52 - [CASEY_CAVANAUGH]
Okay.

00:02:52 - [SHAWN_REMICK]
If Greg Greg walks out of this and says that it's gonna be a bomb in the middle of the room, and we have a lot of other IT things we're trying to, I would say, preserve the integrity of getting accomplished. So I would like, if if no one has a strong objection, I'd like to slow roll this just a little bit. Get we're talking about, like, one pallet worth of gear. It's not anything huge. Let's get make sure we get Philip aligned and then get Jeremy brought in and aware. And then the operational side of that, I understand is Greg in finance, but I just don't wanna we've gone through quite a few bombshells already over there. I just have learned that if we can get the leadership aware first and get them to push that down, it's going smoother for us.

00:03:36 - [CASEY_CAVANAUGH]
Absolutely a great call, and I am fully supportive of the approach.

00:03:44 - [SCOTT_WARNER]
Casey, what what was your interactions like with Philip? Was he congenial with you?

00:03:50 - [CASEY_CAVANAUGH]
Man, I've been I've been reflecting on this one given our conversation, and it was it was good. I think I have a solid trust, but it it felt some of this stuff I even I don't know. Not my radar was going off is the right word, but it was just a little it was a little strange, some of the interaction. And he it's obviously there he's a little frustrated by the project management. Not not so much our team, but definitely with the teams in Wellington. Feels like his, the shaper folks are not being probably utilized to the level that they should or engaged to the level that they should on some of the decisions and the actions. But he never he never mentioned anything, like, that would that indicated he was starting his own business or had other plans to not continue on with Festool after, which, like, that's where I was looking back a little bit. Like, we we were talking a lot at dinner and stuff, and he never mentioned anything related to that. But he did mention that he wanted the finance team, my team, to decide what the sale value for all these assets are. And I think, like, he's trying to pull himself out of it a little bit, but still get get some of this stuff potentially is what I was thinking about after the fact. So I don't know if that helps. But

00:05:26 - [SHAWN_REMICK]
I think we're gonna have to have a strong why behind this so that it I mean, obviously, we're not gonna walk in there and tell them that we think that we're concerned about the disposition of these assets. I don't want that to be the message. And so I think we can leverage global policy and process. We can leverage Yeah. You know, we've talked with several stakeholders. That's their vision. Like, I think we just need to be pretty crisp when we tell him, and then I I think he's been reasonable as long as we can provide very concrete wise.

00:06:03 - [CASEY_CAVANAUGH]
Okay. Yeah. And he seems totally reasonable. I I have trust with him. I do believe that we should be utilizing that team more, which is why I'm kinda pushing on Greg and Patrick in this meeting to actually deliver because they're actually running behind what we had agreed to in some of the deadlines so far. So curious to get an update. I like the approach. Who wants to communicate to fill up? I'm happy to do that.

00:06:36 - [SCOTT_WARNER]
Let's see how this goes, and then, Casey, maybe you and I either do it together or or Mhmm. I can do it from my IT side or you can do it from the Okay. As as kinda more of a face of of I think Matt Matt was kinda saying it just makes more sense for you to be the face of it since you're on the West Coast with them.

00:06:55 - [CASEY_CAVANAUGH]
Yeah.

00:06:56 - [SCOTT_WARNER]
I guess let's have a discussion and see kinda where we think the the pitfalls are or whatever. I I just I hesitate to send you in

00:07:04 - [SHAWN_REMICK]
a loan

00:07:04 - [SCOTT_WARNER]
because it's kinda IT, but it's also compliance, which you can handle fine. So I don't I don't know which way is best there. So

00:07:11 - [SHAWN_REMICK]
And I'll give you the pain point you're gonna get. Just I know we only have three minutes. I I think we probably ought to see if we could all three chat today or tomorrow to get this through because first pain point's gonna be we gotta collect what's there. Second pain point's, we gotta tell them that every employee that changes, we're gonna send them a box and a label from Lebanon to put their equipment in and send it back to us. And so working through that's gonna be a topic. But the second topic is they have roughly 70 terabytes of data that we're gonna need to evaluate whether they need high availability on. Do they need that Synology up and running the week of the move? As soon as we get it back to Lebanon on Friday, goes down on Monday, comes up on Friday, is that window gonna be a concern for them? We need to to be prepared for those things as well. Right? That is marketing. There are some image builds on those NASs. And we just need to tell him, like, we anticipate needing to work through the logistics of we can't make you nonfunctional for a week. And so if there are some things that need moved and we need to provide you a repository in Lebanon to work off of for five days, we can collaborate. But I just wanna there's a lot of moving parts there. I wanna make sure that you guys can articulate very good before we tell them that because they're they're they're gonna panic that we're gonna take them out of business for a week.

00:08:32 - [CASEY_CAVANAUGH]
Yeah. 100. Great call. That all sounds good. Okay. Well, I'm really glad we scheduled this meeting. The second item on this agenda that I put together, we'll punt for now, Just to call out kinda we're evaluating next steps and have some points of alignment internally. But it will be a change in direction versus what I had aligned with them. That it was gonna be a three tier Festool first rider refusal, employee sale, and then a salvage sale that could have potentially been managed by Shaper, which that's totally fine. I'm not gonna mention any of it today until we have a chance to get our ducks in a row.

00:09:21 - [SHAWN_REMICK]
And I also think there's a little room. Scott has a strong opinion, Tell me no. But I think there's a room for if we wanna give employees that are leaving their laptop, we can wipe them and mail them back to them. There's we're willing to be good partners in this.

00:09:34 - [CASEY_CAVANAUGH]
Yeah. Alright. Awesome. Anything else? Any other watch outs? Shawn, you got a couple good ones so far. Thank you.

00:09:43 - [SHAWN_REMICK]
No. My only question or my only request is in this meeting, I'd like to give just a quick update whenever a time fits appropriately for you, Casey, to throw it and give a little bit of a trucking update and some other move updates. But other than that, no, I'm good.

00:09:57 - [CASEY_CAVANAUGH]
Okay. Cool. I think the first part of the agenda, number one, is not gonna take that long. I'll limit that to, like, twenty minutes, and then we can plan on forty for the digital tour deck if we need to go into it and the trucking plan, like, twenty twenty.

00:10:12 - [SHAWN_REMICK]
K. That work? Yeah.

00:10:13 - [CASEY_CAVANAUGH]
Sound good?

00:10:14 - [SHAWN_REMICK]
That works great. See you in a minute.

00:10:16 - [SCOTT_WARNER]
Alright. Yes.

00:10:16 - [CASEY_CAVANAUGH]
Thanks, gentlemen. We'll see you over there.