Ann: CEO Resignation and Transition Arrangements, page-174

@RWC1
the number of client a company has, had or will have is irrelevant to the company's profitability, it is the same as how many gain transactions or loss transactions an investor made during the year is irrelevant to that investor's bank bottom line...

what matter is profit margin on the clients, as to CAT, the net margin from the clients given its luxous management style; it is the same to an investor, all it matters is how much money he made or lost in a single largest transaction.

Powell never held shares in CAT, after share price halved, board had enough, and he is free to go, no down side risk... only holders suffer.