I wonder what investment rationale these Japanese banks see in lending more money to Renesas. The core issue faced by Renesas is not money. Core issues are the capabilities of the current management team and their intentions of turning around the company. As I have said earlier also, the current toxic management is actually a bunch of veteran engineers without any experience of running a large public listed company. You will realize their mediocrity after talking to them for just 10 minutes. Other issue is whether they have any genuine intentions of turning around the company. Most of them just want to float around for some more time, collect their retirement money, and go home. Unless these core issues are resolved, I do not see any hope for Renesas. KKR had realized these core issues and therefore they have put a condition that they will fire the entire board if they take over the management.
As we unveil EE Times’ 2015 Silicon 60 list, journalist & Silicon 60 researcher Peter Clarke hosts a conversation on startups in the electronics industry. Panelists Dan Armbrust (investment firm Silicon Catalyst), Andrew Kau (venture capital firm Walden International), and Stan Boland (successful serial entrepreneur, former CEO of Neul, Icera) join in the live debate.