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Running head: MANAGEMENT TEAM AND FINANCIAL PLAN FOR GOPRO COMPANY 1

MANAGEMENT TEAM AND FINANCIAL PLAN FOR GOPRO COMPANY 2

Management Team and Financial Plan for GoPro Company

Student’s Name

Professor’s Name

Course Title

Date

Management Team and Financial Plan for GoPro Company

VIII. MANAGEMENT TEAM

a. Management Team Members

· Name: Nicholas Woodman

· Title: Chairman and Chief Executive Officer since 2004

· Key Functional Areas Covered: Founded GoPro in 2002 dealing with hero camera.

· Past positions, successes and/or unique qualities: Previously founded an online gaming company called Funburg.com but failed in 2001 (Corporate Governance, 2018).

Educational background: Holds B.A in Visual Arts from University of California, San Diego

· Name: Brian McGee

· Title: Chief Financial Officer since March 2016

· Key Functional Areas Covered: Risk management, treasury, and financial planning

· Past positions, successes and/or unique qualities: Vice President Finance since September 2015. McGee served in various positions at Qualcomm between May 2011 and September 2015 with most recent Vice President in Business Operations. Vice President at Atheros Communications from December 2009 to May 2011 (Corporate Governance, 2018). Treasure, Chief Financial Officer, and Senior Vice President at Intellon from January 2007 to December 2009. Chief Financial Officer and Vice President Finance of Lexar.

Educational background: Holds B.S in Finance from California Polytechnic State University and a Certificate in Management Accounting in 1983 and 1989 respectively.

· Name: Sharon Zezima

· Title: Senior Vice President, Corporate/Business Development, General Counsel and Secretary.

· Key Functional Areas Covered: Distributor and developer of interactive entertainment services and content.

· Past positions, successes and/or unique qualities: Head of Corporate and Business Development from October 2017. General Counsel and Corporate Secretary since September 2013 and October 2013 respectively. General Counsel and Vice President at Marketo Inc. from February 2012 to September 2013 (Corporate Governance, 2018). Zezima served as Deputy General Counsel and Vice President from September 2000 to February 2012 at Electronic Arts Inc.

Educational background: Holds J.D and A.B in American Studies from University of Chicago and Smith College respectively.

· Name: George Brown

· Title: Senior Vice President of Corporate Communications and Government Affairs since January 2016

· Key Functional Areas Covered: Communications and Public Affairs for Electronic Arts. Served in Food and Beverage Company.

· Past positions, successes and/or unique qualities: Senior Vice President at Communications and Public Affairs from April 2010 to October 2013 (Corporate Governance, 2018). Director of Public Relations at PepsiCo Inc. in December 1999.

Educational background: Holds B.A in Journalism from the University of Minnesota.

· Name: Laura Robblee

· Title: Vice President of People and Places since May 2017

· Key Functional Areas Covered: Global HR Business Partner, Lithium Technologies, and Electronic Arts.

· Past positions, successes and/or unique qualities: Senior director of people since June 2015 to May 2017. Senior Director at Global HR from November 2012 to May 2015. Human Resources role at Electronic Arts from 2011 to 2013 and an executive consultant between 2006 and 2011 (Corporate Governance, 2018).

Educational background: Holds B.A in Psychology and Communication and a Masters certificate in executive coaching from the University of Colorado at Boulder.

b. Management Team Gaps

· Title/Role: Senior Business Partner, People. The applicant will be in a position to understand leadership, goals, strategies, operations, and products of GoPro and even understand the strategy and needs of the CTO organization. The person will also offer holistic people support for engineering organization such as leadership in talent acquisition.

· Key Functional Areas Covered: The Senior Business Partner will function in the Consumer Electronics industry on a full-time basis.

Qualities of the individual who will be sought to fill this role: The position needs a person with mid-senior level experience to function as sales in Business Development. BS/BS in Organization Behavior or Business with more than ten years’ experience in Manager or Business Partner is required.

· Title/Role: PCB Layout Designer. The applicant will be responsible for layout design of flexible and rigid multilayer printed circuit boards. The person will be working with Mechanical and Electrical engineering teams to implement the complicated circuit boards.

· Key Functional Areas Covered: The PCB Layout Designer will work in the Consumer Electronics industry on a full-time basis.

Qualities of the individual who will be sought to fill this role: The applicant should have an associate experience to function as an engineer in information technology. The applicant must have more than seven years of relevant work experience in the design of Circuit board. The applicant should also have a hands-on experience with HDI, RFPC, and FPC board layout.

c. Board Members

· Name: Nicholas Woodman, Chief Executive Officer and Chairman

Past positions, successes and/or unique qualities: Founder online Gaming Company (Corporate Governance, 2017). Successfully founded the HERO Camera. Woodman has unique knowledge of the customers and products giving him experience in leadership and experience capabilities.

· Name: Anthony Bates, Director

Past positions, successes and/or unique qualities: Previously an Executive Vice President Business Development and Evangelism of Microsoft Corporation in a software company. Bates has served various roles in different companies. He is unique because of the extensive leadership experience in the technology industry.

· Name: Kenneth Goldman, Director

Past positions, successes and/or unique qualities: Previously served as the Chief Financial Officer at Yahoo Inc. (Corporate Governance, 2017). Goldman has served various roles in numerous companies. He is unique because of the vast experience garnered while serving various positions in numerous companies.

· Name: Peter Gotcher, Director

Past positions, successes and/or unique qualities: Previously a venture partner in Redpoint Ventures. Ha served various roles in several companies in the top management. He is unique because of the broad understanding of the strategic, financial, and operational issues that face public companies.

· Name: Zander Lurie, Director

Past positions, successes and/or unique qualities: Previously served as the Chief Executive Officer at SurveyMonkey, Inc. (Corporate Governance, 2017). Succeeded to lead equity mergers and transactions within internet sector. Lurie is unique based on the previous experience as the executive officer in GoPro.

· Name: Susan Lyne, Director

Past positions, successes and/or unique qualities: Previously served as Managing Partner and President of BBG Ventures. She has succeeded in serving various roles in numerous companies. She is unique based on the experience on board of directors in various companies.

· Name: Rick Welts, Director

Past positions, successes and/or unique qualities: Previously served as the Chief Operating Officer at Golden State Warriors. Welts has succeeded through serving some companies at the top management (Corporate Governance, 2017). Welts is unique based on the extensive marketing expertise and executive experience.

· Name: Lauren Zalaznick, Director

Past positions, successes and/or unique qualities: Previously served as a senior advisor and board member of various companies. Zalaznick has succeeded in leading some companies at top echelons. Zalaznick is unique based on the management and operational experience and also a background in content strategy and digital media.

IX. FINANCIAL PLAN

a. Revenue Model

GoPro Company generates revenues via the following:

· Sales of products/services: GoPro Company generates revenue through sales of products and services that includes action cameras, own mobile app, and the video editing software. The company has generated revenue from the sale of its cameras and accessories also known as the capture devices (Woodman, 2014).

· Referral revenues: GoPro Company has hired J.P Morgan Chase to assist it in seeking potential sale although no sale has been assured (Sherman, 2018). The CEO considers a partnership with another company to accrue the referral revenues.

· Advertising sales: GoPro started to generate revenue from its channel sponsorship and advertising opportunities on the GoPro Channel and Xbox Live on YouTube since 2014 (Woodman, 2014). However, the revenue earned from the advertising sales was not material to the company in that year.

· Licensing/royalty/commission fees: GoPro Company has invested as a media company to develop the new software sales and revenue licensing opportunities through increasing its production (Woodman, 2014). However, this method has not been without challenges because of the export license restrictions and requirements.

b. Financial Highlights

Below please find an overview of our financial projections. See the Appendix for our full projected Income Statements, Balance Sheets and Cash Flow Statements.

Figure 2: Financial Highlights

Figure 3: Projected Year 1 Expenses

c. Funding Requirements/Use of Funds

To successfully execute on our business plan, we require _$502,580_ in outside funding.

The primary uses of this funding include:

· Product Development: $161,780

· Marketing: $61,200

· Staffing: $234,000

· Rent: $36,400

· Other: $9,200

d. Exit Strategy

We expect that investors will be able to cash out on their investment in our company when we ____are required___. We expect to achieve this goal by _____April, 2020____.

References

Corporate Governance. (2017). Corporate Governance - Board of Directors. Investor.gopro.com. Retrieved 4 April 2018, from https://investor.gopro.com/corporate-governance/board-of-directors/default.aspx

Corporate Governance. (2018). Corporate Governance - Management. Investor.gopro.com. Retrieved 4 April 2018, from https://investor.gopro.com/corporate-governance/management/default.aspx

Sherman, A. (2018). GoPro has hired JP Morgan to put itself up for sale. USA TODAY. Retrieved 4 April 2018, from https://www.usatoday.com/story/money/markets/2018/01/08/gopro-expects-revenue-slump-slashes-workforce-20/1012580001/?utm_source=feedblitz&utm_medium=FeedBlitzRss&utm_campaign=usatodaycommoney-topstories

Woodman, N. (2014). GoPro, Inc.-Annual Report. Washington, DC. Retrieved from https://s21.q4cdn.com/291350743/files/doc_financials/2014/GoPro_2014_Annual_Report.pdf