# Elaine O'Donnell appointed non-exec director at Games Workshop



## Geist (Mar 9, 2010)

> Google news alerts has just dropped this in to my inbox:
> 
> " http://www.cfoworld.co.uk/news/fina...ppointed-non-exec-director-at-games-workshop/
> *Elaine O'Donnell appointed non-exec director at Games Workshop
> ...


Major restructuring? Or are the rumors true and they want to sell the company to a larger company? I'm not sure, but it seems obvious something's going to change because of this.


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## d3m01iti0n (Jun 5, 2012)

This post alone could be the best news ever. Or the worst. But hope for the best, because they are currently doing it very wrong


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## bitsandkits (Mar 18, 2008)

Im not sure, but i think Non-execs are there to give impartial advice and strategy about a company without the benefit or burden of company knowledge/resources and to keep the executive directors on track with targets, they are supposed to be fresh eyes and ears with impartial and independence from the share holders, because they are an "outsider" they are more likely to know about outside influences that could effect the company. 
They kinda act like an auditor, they ask questions and give constructive criticism and hopefully stop the management becoming complacent and keep a company moving forward.
Is it a precursor for a sale to another company? seriously doubt it, GW is a publicly traded company, if anyone wanted to buy it out they could fairly easily if they had the cash.


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## bitsandkits (Mar 18, 2008)

d3m01iti0n said:


> This post alone could be the best news ever. Or the worst. But hope for the best, because they are currently doing it very wrong


doing what very wrong?


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## d3m01iti0n (Jun 5, 2012)

bitsandkits said:


> doing what very wrong?


 
Youve got 9,000 posts on a Warhammer site; I highly doubt you need it explained.


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## bitsandkits (Mar 18, 2008)

d3m01iti0n said:


> Youve got 9,000 posts on a Warhammer site; I highly doubt you need it explained.


well as someone whos been kicking around this site and the hobby for a hell of a long time i think your wrong, they are doing it very right ,what ever it is that they are doing.

They are the undisputed number one wargame company on the planet with extremely strong financial results despite world economics being in the toilet,there products and business are emulated,copied and influence almost every other smaller company in the market to some degree, many of who exist purely on the back of GW and its amazing universes(including me), they design,manufacture almost everything in house and are still the only company in the industry with a high street presence all over the world and have been kicking around for over 30 years.


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## morfangdakka (Dec 31, 2006)

It could be that she is there to advise on a restructuring maybe folding forgeworld into GW. She could be there to advise on that. She does work in mergers and acquisitions but it could be that GW is going to buy up some of the small companies as well to reduce competition or add a new revenue stream for GW. GW could for example buy Privater press to shut them down and eliminate a competitor or keep them around so that GW has more money coming in. I think this might be more why they brought her in was to help with whatever strategy GW has in mind and to make it happen.


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## Grins1878 (May 10, 2010)

I wonder what army she collects?


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## Old Man78 (Nov 3, 2011)

bitsandkits said:


> doing what very wrong?


Not giving me terminator command squads, a relic blade for my chapter master if in termie armor, split fire for the Heavy weapon and special weapon guy, not being able to take multiple transports eg 2 razorbacks for my 10 man squad, ME, ME ,ME cater or MEEEE E E E E E E!!!!!!!!!!!!!!!! Suppose I could talk about what they do quite right, but that wouldn't be popular:laugh:


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## Einherjar667 (Aug 23, 2013)

morfangdakka said:


> It could be that she is there to advise on a restructuring maybe folding forgeworld into GW. She could be there to advise on that. She does work in mergers and acquisitions but it could be that GW is going to buy up some of the small companies as well to reduce competition or add a new revenue stream for GW. GW could for example buy Privater press to shut them down and eliminate a competitor or keep them around so that GW has more money coming in. I think this might be more why they brought her in was to help with whatever strategy GW has in mind and to make it happen.


This sounds about right to me, GW is very much a growing company that probably wants to keep from stagnating. Look at all the new stuff they are trying with supplements and expansions. They're looking to broaden out so whether or not it's combining themselves with FW to make use and better sell those models and rules, or branching out to other companies, it appears they're looking to improve and prosper continuously.


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## Jezlad (Oct 14, 2006)

Does she have massive jugs and a double chin though?


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## Khorne's Fist (Jul 18, 2008)

Geist said:


> Or are the rumors true and they want to sell the company to a larger company?


Or they could be about to buy out some smaller companies themselves?



morfangdakka said:


> It could be that she is there to advise on a restructuring maybe folding forgeworld into GW.


FW is not a separate company, it's just a different department within the larger whole. It's based in the same building, sharing a lot of the resources, with profits all going into the same pool. The only folding that would need to be done is really just digital, merging the websites. You don't take on someone on a 6 digit salary for a move that minor.

No, I smell something major coming down the line.


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## Einherjar667 (Aug 23, 2013)

Mind you, the merging of FW's line into the main line, or however you might word it, could require tricky restructuring, where she would come in.


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## Old Man78 (Nov 3, 2011)

Jezlad said:


> Does she have massive jugs and a double chin though?



Would that put you off or encourage you?


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## morfangdakka (Dec 31, 2006)

Khorne's Fist said:


> No, I smell something major coming down the line.


I agree with you. I think they are planning on buying one or more of their main competitors. There is the possibility that they could sell the company to someone like Mattel or another big toy company since they have been posting profitable years. 

but I think more than likely they are going to buying up small companies.


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## Zion (May 31, 2011)

The question I have is: did she replace the CFO, or did they even have a CFO before?

EDIT:
Regarding the idea of GW selling themselves, I don't see it. That kind of thing requires so much planning (and the approval shareholders, and in the US, the government) to occur that if it were going to happen even "soon" we'd know about it.

Also even if GW does want to sell there has to be an interested party looking to break into the miniature wargames market (which is not a large market mind you), and we haven't seen any signs from any bigger companies that they were interested in that.


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## Jacobite (Jan 26, 2007)

What GW needs is more, not less, competition. The idea of them going and buying up their competitors while a great idea from their point of view is a very bad idea for the hobby in general. They already have a big enough hold on the market as it is, them completely monopolising it is possibly a disaster.


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## Einherjar667 (Aug 23, 2013)

Plus, do they even need to buy up smaller companies? I don't think even pp is a big threat to them. I'm not so sure that's it.


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## Chryckan (Jul 17, 2013)

Not sure it is so ominous news as people here might think. O'Donnell is clearly the type of person any company would want to have on their board of directors, especially a fairly small and niche one as GW, regardless if the company have any special plans for the future or not.

Secondly, you don't really need to look outside GW to find reasons for a need for restructuring. It's obvious that GW is trying to make a transition toward a more digital business footprint and it's equally obvious from for example the Inq codex that they're still feeling their way forward. Going from traditional media to digital media is something the requires huge changes in policy and organization. 
If she's been recruited for some specific reason I'm willing to bet that's what she's suppose to help with.


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## Tawa (Jan 10, 2010)

Grins1878 said:


> I wonder what army she collects? :wink:


Sororitas.

She told me so at lunch yesterday.


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## Straken's_Fist (Aug 15, 2012)

morfangdakka said:


> I agree with you. I think they are planning on buying one or more of their main competitors. There is the possibility that they could sell the company to someone like Mattel or another big toy company since they have been posting profitable years.


I have heard this from 2 good friends who work in the gaming industry...GW will be selling the company after the codex's are released. I am so sure I would bet good money on this happening.


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## Zion (May 31, 2011)

Straken's_Fist said:


> I have heard this from 2 good friends who work in the gaming industry...GW will be selling the company after the codex's are released. I am so sure I would bet good money on this happening.


I stand by my assessment before, if GW is planning on selling we'll know about it publicly long before it actually happens, especially if it's a US company that they're selling too because of the anti-trust laws the US has regarding mergers mean that they have to be done publicly and approved by the government.

I still don't know of any larger companies that are even trying to get into miniature wargaming, something that's as important, if not more important than GW trying to sell itself.


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## Einherjar667 (Aug 23, 2013)

I feel it most likely has to do with new plans to how they're going to arrange FW, BL, digital endeavors, and the advent of the new website. That requires plenty of restructuring. Plans to sell a company are hard to keep a lid on.


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## Zion (May 31, 2011)

Einherjar667 said:


> I feel it most likely has to do with new plans to how they're going to arrange FW, BL, digital endeavors, and the advent of the new website. That requires plenty of restructuring. Plans to sell a company are hard to keep a lid on.


That or they decided to bring in someone to be a full time CFO as they don't list one on the board: http://investor.games-workshop.com/the-board-of-directors/

Either way, of GW tries to sell *everyone* will know about it _long_ before the sale happens. Hell, GW will even tell us as both companies will want to spin the positives of the move to keep the customer base from considering bailing before things potentially downhill.


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## Jacobite (Jan 26, 2007)

Zion said:


> I stand by my assessment before, if GW is planning on selling we'll know about it publicly long before it actually happens, especially if it's a US company that they're selling too because of the anti-trust laws the US has regarding mergers mean that they have to be done publicly and approved by the government.


Does that apply if they aren't a US based company? Are they floated on the US share market or is it just the UK?


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## Zion (May 31, 2011)

Jacobite said:


> Does that apply if they aren't a US based company? Are they floated on the US share market or is it just the UK?


It also applies to if they sell to a US company like Mattel or WotC (the two big ones people claim GW is going to sell to). The other one I've seen claimed is Lego, but when has Lego shown a desire to break out from their building sets to wargames?


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## Jacobite (Jan 26, 2007)

Ah right got ya. Lego? I cannot see that happening.


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## Chryckan (Jul 17, 2013)

Zion said:


> That or they decided to bring in someone to be a full time CFO as they don't list one on the board: http://investor.games-workshop.com/the-board-of-directors/
> 
> Either way, of GW tries to sell *everyone* will know about it _long_ before the sale happens. Hell, GW will even tell us as both companies will want to spin the positives of the move to keep the customer base from considering bailing before things potentially downhill.


But if she was going to be the CFO (which by the way doesn't need to be a member of the board of directors, so GW can still have one) GW would have listed her as that.

Still, looking at the setup of the board GW already had a lawyer and a business management guy on the board. Makes sense that they would strengthen board with an accountant. Remember you don't pick board members based on a short term goal. You pick them for the long run.


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## Bindi Baji (Apr 23, 2009)

Expect more tie-ins and marketing deals with other companys - GW are doing everything they can to keep the companys future in their own hands, hence board reinforcements (amongst other things).

The fact that bell of lost souls, blood of gimps and other places say GW are preparing to sell out regularly- every six months or so for some of them, means fuck all.




Straken's_Fist said:


> I have heard this from 2 good friends who work in the gaming industry...GW will be selling the company after the codex's are released. I am so sure I would bet good money on this happening.


quoted for wrongness, in fact i'll bet a years subscription of white dwarf on it



Zion said:


> The other one I've seen claimed is Lego


Lego?:shok:, I mean really - someone actually had the idea of making up a rumour that Lego would buy GW?
pretty much speechless at that idea.................


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## Einherjar667 (Aug 23, 2013)

What do you mean by tie-ins?


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## Bindi Baji (Apr 23, 2009)

Einherjar667 said:


> What do you mean by tie-ins?


as happens with computer and mobile games currently, it probably wasn't the best term


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## Straken's_Fist (Aug 15, 2012)

Zion said:


> It also applies to if they sell to a US company like Mattel or WotC (the two big ones people claim GW is going to sell to). The other one I've seen claimed is Lego, but when has Lego shown a desire to break out from their building sets to wargames?


Lego wont happen. 

I can see Mattel buying though. So how much notice would they have to give the public before selling? Are we talking 6 months or a year plus?


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## Einherjar667 (Aug 23, 2013)

Bindi Baji said:


> as happens with computer and mobile games currently, it probably wasn't the best term


You mean like Space Marine and that warhammer mobile game?



Straken's_Fist said:


> Lego wont happen.
> 
> I can see Mattel buying though. So how much notice would they have to give the public before selling? Are we talking 6 months or a year plus?


Sorry for the double post but I don't know how to quote two posts in one post with this app.

It's simply just too hard of a secret to keep. It spreads among employees first and foremost and then the internet from then on.


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## Zion (May 31, 2011)

Bindi Baji said:


> Lego?:shok:, I mean really - someone actually had the idea of making up a rumour that Lego would buy GW?
> pretty much speechless at that idea.................


I don't believe they intended it as a rumor. From what I remember it was proposed as a possibility of a company that they thought might buy GW, but it didn't fit in my mind which is why I remembered it so clearly.



Straken's_Fist said:


> Lego wont happen.
> 
> I can see Mattel buying though. So how much notice would they have to give the public before selling? Are we talking 6 months or a year plus?


In the US there is no timeline for when it should be said, but the Department of Justice and the Federal Trades Commission must be notified on any deal that's worth over $66M USD (I'm willing to bet that in total GW is worth at LEAST that), but from what I read, once the details are arranged between the two companies (basically they've sat down and considered it) they have to file as it's a required part before the merger can be complete.



Einherjar667 said:


> Sorry for the double post but I don't know how to quote two posts in one post with this app.
> 
> It's simply just too hard of a secret to keep. It spreads among employees first and foremost and then the internet from then on.


On the posts you click the "Multi-Quote" button at the bottom of each post until you get to the last one then instead click the "Quote" button next to it. It should quote all the posts you want to quote.

Also I merged the posts for you.


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## Einherjar667 (Aug 23, 2013)

Zion said:


> I don't believe they intended it as a rumor. From what I remember it was proposed as a possibility of a company that they thought might buy GW, but it didn't fit in my mind which is why I remembered it so clearly.
> 
> 
> In the US there is no timeline for when it should be said, but the Department of Justice and the Federal Trades Commission must be notified on any deal that's worth over $66M USD (I'm willing to bet that in total GW is worth at LEAST that), but from what I read, once the details are arranged between the two companies (basically they've sat down and considered it) they have to file as it's a required part before the merger can be complete.
> ...


Thanks! And also, you shed some bright light on topics that raise lots of curiosity. :thumbs up:


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## morfangdakka (Dec 31, 2006)

Zion said:


> In the US there is no timeline for when it should be said, but the Department of Justice and the Federal Trades Commission must be notified on any deal that's worth over $66M USD (I'm willing to bet that in total GW is worth at LEAST that), but from what I read, once the details are arranged between the two companies (basically they've sat down and considered it) they have to file as it's a required part before the merger can be complete.



THis is true but GW is a UK company. The US headquarters is just a division of the UK company because you can only buy stock in the uk company so there is no US company it is just a division of the UK. Still if a company like Mattel or Hasbro (could do several tie-ins with Nerf) was going to buy the GW both companies would announce the possibility of a sell because this would raise the price of both companies stocks. 

I still feel GW is not going to sell I think they are going to buy up smaller companies like Microsoft did to totally dominate the market of miniature gaming and manufacturing.


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## Chryckan (Jul 17, 2013)

morfangdakka said:


> I still feel GW is not going to sell I think they are going to buy up smaller companies like Microsoft did to totally dominate the market of miniature gaming and manufacturing.


Besides you don't sell if you are the market leader unless you want to cash in on your successful busniess by selling it to a mega corp like for example the founders of youtube did. 
Somehow GW doesn't fit that profile. :grin:


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## Zion (May 31, 2011)

morfangdakka said:


> THis is true but GW is a UK company. The US headquarters is just a division of the UK company because you can only buy stock in the uk company so there is no US company it is just a division of the UK. Still if a company like Mattel or Hasbro (could do several tie-ins with Nerf) was going to buy the GW both companies would announce the possibility of a sell because this would raise the price of both companies stocks.


GW is UK, sure, but any US company that is interested in buying them (Mattel, Hasbro, WotC to name a few that I've seen claimed) would still have to file as it would apply to them.


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## Tawa (Jan 10, 2010)

Lego?

Imagine the repackaged Lord of Skulls. I'd buy one :laugh:


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## Zion (May 31, 2011)

Tawa said:


> Lego?
> 
> Imagine the repackaged Lord of Skulls. I'd buy one :laugh:


To be fluffy it'd need to have 888 or 8,888 peices. Can't go and *not* use Khorne's Sacred number for the piece count.


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## Tawa (Jan 10, 2010)

Then I would buy three! :crazy:


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## Bindi Baji (Apr 23, 2009)

I can just see it now..............

Fun for the Fun God! Lego skulls for the Skull Throne.

Khorne, also called the Red God and the Lord of Lego Skulls, is the Chaos God of Red stuff, War and Shenanigans.

Slaanesh is :shok:....................
erm how many nipples?
Naughty; and we'll leave it at that...........


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