CB Recruitment - Jared Grey

Summary
Sushi Proposal RE: Executive search and successful selection of Jared Grey via CB Recruitment.

Hey All,

As discussed in our last AMA on Thursday October 27th, as promised, we put together a thread previously outlining details of the proposal in the forum.

We answered a number of questions with David Lamb, the director of CB Recruitment, about how we intend to work together to build a mutually beneficial relationship moving forward and how we can help sushi to continue to grow

We answered questions from the community regarding the process that were asked and welcomed any feedback or suggestions to improve on our previous proposal detailed below;

We’re now putting forward our official proposal which will go to snapshot for voting, as mentioned in the AMA.

$50k USDC + $50k Sushi Tokens paid immediately after a DAO vote

OR

$50k USDC paid immediately after a DAO Vote + $50k Sushi Tokens (at today’s price) paid 1 year after @jaredgrey (Profile - jaredgrey - SushiSwap) *start date (assuming he is still in post)

OR

$50k USDC paid immediately + $50k USDC paid 1 year after @jaredgrey’s (Profile - jaredgrey - SushiSwap) start date assuming he’s still in post

It’s been a turbulent few weeks in web3 with the shocking revelations about SBF and FTX, Alameda and everything else, and this more than anything. Highlights the importance of having someone excellent steering the ship so to speak, we believe that Jared has already shown consistently that he is this for Sushi since joining, being present and contactable, really embracing the unique DAO culture, and helping to move products and overall strategy forward in the right way.

Thank you to the community and to Jared, Neil, Tangle and rest of the team for all their help in organising AMA’s, we sincerely look forward to building a great partnership moving forward.

Abstract

Vote to decide on an option remuneration proposed for the work CB Recruitment has done in good faith for the executive search and hire of @jaredgrey

Motivation

To remunerate the executive search firm CB Recruitment for their part played in the hire of the new Head Chef in a fair and agreed upon selection of choices previously presented in prior AMA’s

Specification

$50k USDC + $50k Sushi Tokens paid immediately after a DAO vote

OR

$50k USDC paid immediately after a DAO Vote + $50k Sushi Tokens (at today’s price) paid 1 year after @jaredgrey (Profile - jaredgrey - SushiSwap) *start date (assuming he is still in post)

OR

$50k USDC paid immediately + $50k USDC paid 1 year after @jaredgrey’s (Profile - jaredgrey - SushiSwap) start date assuming he’s still in post

For

CB Recruitment has provided value in line with normal industry executive search terms after being invited to submit candidates to the process, and has delivered value in this regard resulting in the hire of the new CEO / Head Chef @jaredgrey

Against

Re-assess current proposal structure

Poll

  • $50k USDC + $50k Sushi Tokens paid immediately after a DAO vote
  • $50k USDC paid immediately after a DAO Vote + $50k Sushi Tokens (at today’s price) paid 1 year after @jaredgrey’s start date
  • $50k USDC paid immediately + $50k USDC paid 1 year after @jaredgrey’s start date assuming he’s still in post

0 voters

I’m still not thrilled with the setup and do not want to vote. I don’t mean any offense to CB Recruitment, but I don’t think we should be making ex post facto payment decisions. It sets bad precedent.

Recruited talent and the costs associated with recruiting really needed to be disclosed well in advance of the vote, so that we’d know we were on the hook for a payout.

I forget the exact day we learned of the recruiting fee, but I recall it being a day or two before or after the Head Chef vote.

I realize I’m in the minority of being against this payment. If it goes forward, I’d recommend only paying out in USDC. No Sushi. Also, I would recommend against using this recruiter in the future. I do not want my position to reflect poorly on Jared or CB Recruitment and the work they do. I do not dispute the payment based on quality of candidates or quality of work. Please do not take this as such. My position is based on principle and precedent.

4 Likes

Hey Nick

We’d have loved to have been involved earlier in the process, and agree with you that this would have been ideal, we learned about the head chef search after the snapshot was already voted on for remuneration, and we were still invited to submit candidates, knowing that we were working in good faith that the DAO would have to vote post process on our remuneration. We didn’t have any control over the timing unfortunately when we came into the process, so hope you can understand this was out of our hands and shouldn’t reflect on us. - source here - Elect SuperGenius to Head Sushi Chef/CEO Position - #6 by Web3connector

And then invited to explain our involvement after having introduced the candidates during the process which was out of our hands, as we were following what we were told would be appropriate times to address our intro’s etc from the organising teams for the AMA’s and general process. We worked with Neil and Tangle to ask when was appropriate to post and followed accordingly.

Ultimately, tighter processes should be in place to allow votes in the future before inviting external parties to assist, and we’re all for that, and want to build that relationship going forwards. We love Sushi and what it’s doing and we’re proud to have been a part of the 1st (that I’m aware of) complex C-suite DAO hiring snapshot and are keen to continue in that good faith we were originally offered

Did a delegate of Sushi sign a contract with CB Recruitment? It would be good to see that contract.

None of what I’m asking is to malign your work in any way. Nor the work of our Head Chef. This is a business process that should be operated correctly given the financial condition of Sushi at this point.

3 Likes

I’m with @nickjrishwain on this one. CB Recruitment should have disclosed their fee and agreed the rate and services with the DAO before proceeding.

It’s not just about the fee: what work did CB Recruitment do to vet the candidates? Sure, “add value” but loads of folks here add value and haven’t been paid a dime.

So, were any police and financial background checks carried out? Did CB Recruitment speak with 3-4 referees to confirm the candidates were suitable? What other vetting was conducted? How many candidates were put forward?

If this is simply a case that Jared sent his CV to CB Recruitment and they collect a fee for passing it on, then the fee is definitely excessive.

Sorry for asking these questions now - we would have asked these questions before had we known the DAO was expected to pay placement fees.

2 Likes

Like others have mentioned, the recruitment fee should have been stated upfront - ideally, in the same post announcing Jared’s proposed renumeration as a whole package, to make it clear to Sushi DAO voters what they were getting into.

Despite that, I’m not against a finder’s fee. I know this is Web 3 and all, but 100k is ludicrous and requires better justification. If the team does proceed with payment eventually, like @nickjrishwain, I’d prefer it to be entirely in USDC.

2 Likes

I don’t think a 25% recruitment fee is unfair in the grand scheme of things. Certainly not the matter with which I’m taking issue. This is about the need to know about and agree to terms beforehand.

Hi @Daimon. It has been stated multiple times that we did not know about the CEO search from the beginning, and we notified the community as soon as possible that we would look for a fee if one of our candidates was successful. Would you have preferred us to not introduce Jared in those circumstances?

We demanded nothing other than the chance to ask to be paid if we were successful; we anticipated that if our candidate was successful then the Sushi community would be happy to pay. Every successful business I know of pays recruitment fees for staff. We have been transparent from day one of our involvement in the process. Unfortunately, that was not day one of the process.

I am hoping that this is the start of an ongoing relationship, where CBR can introduce candidates to Sushi when you are looking to hire and the community is aware of the cost. If we are not paid for this hire, something which we are leaving up to the community, then we will not look to continue a working relationship. The community will have spoken. We would obviously be disappointed if this is the outcome, but we are not holding anyone’s toes to the fire. We have acted in good faith the whole time.

The Head of Research at Coin Bureau introduced me to Jared a short while ago and recommended him as one of the best guys he had worked with. We were working to find Jared a new role, we had him interviewing at other places, and one place in particular were very interested in him. Before that process could get to its conclusion, the Sushi snapshot was held and Jared was successful. We had agreed a success fee of 28% for the other role and the fee would have been considerably larger than what we are asking for.

What value do you put on someone’s network? My due diligence on Jared was primarily that he was recommended to me by someone that I trust 100%, whose judgement in my eyes is unimpeachable. Without us informing Jared about the role with Sushi, he wouldn’t have known about it, and we wouldn’t be having this conversation now. Jared stated this on the AMA we took part in. Jared didn’t send his CV to CB Recruitment; we are a trusted and respected name in the space and as such, Jared was keen to work with us.

Everything is relative. $100k for Sushi to have the best possible Head Chef, and to give Sushi hodlers the best chance of seeing the token price return to its previous highs seems reasonable to me. It represents less than 0.06% of the current market cap.

I hope this answers your questions, please come back to me if you have any follow ups on this.

1 Like

Hi @ChronoFury, thank you for your feedback. $100k might seem like a lot but it is a lot less than we would have received had we introduced Jared to a client in the traditional sense. We were excited to be a part of history in assisting a DAO to make a senior hire. If we are not paid for this piece of work, we will have missed out on the chance to place Jared elsewhere. If that happens, you won’t hear us crying. We are keen to build a long term relationship, helping Sushi to hire the best of the best, and giving you guys the best chance of success in the future. For us to be a part of the future growth of Sushi, of course we would like to be paid for this piece of work. We are leaving it up to the community to decide. I don’t think you can say fairer than that.

Any follow ups, I’m here.

1 Like

Hi @nickjrishwain, thank you for getting involved in the discussion. We are proposing a formal arrangement moving forward between CBR and Sushi, so that we don’t end up in this position again. We could have walked away from the process when we found out that the process was ongoing, placed Jared elsewhere and we wouldn’t be having this conversation.

I like to think of the CEO search as a proof of concept; had we simply come along on the next hire, people might have wondered why Sushi needed a recruitment partner. Well, Jared getting 83% of the vote hopefully answers that question. If you want the best people at Sushi, having a trusted and respected recruitment partner helps!

If people see the value in our involvement, which they clearly do, then we would like the community to agree to remunerate us for this piece of work, and for us to continue our working relationship moving forward as business partners.

Any follow ups, I’m here.

1 Like

First, I want to be clear that no part of my position should reflect on the work that your or CB Recruitment does or has done. I’m not here to denigrate anyone’s work or effort.

Having a more solidified future agreement would be very good.

My position, for what it is worth, will not change on this issue. We need to practice some form of fiscal responsibility and best practices and post factum payments are certainly not a good practice for any business or protocol.

I hope you can respect the position. That does not mean that I would be anti any any future involvement of CB Recruitment. Future involvement would likely involve transparency from the beginning.

To that same end, I hope for whatever trouble may be caused by my adversity to making this payment might serve as at least a partial reason to future vendors to work for visibility from the beginning.

In the end I am just a community member and others can push this through. My suggestion is only that we don’t force it through.

1 Like

@nickjrishwain Were you unaware that we would ask for a fee before you voted? Everyone I have spoken with so far was aware.

I do not recall at what time I became aware. It was near the election. Not sufficiently in advance for it to be properly considered.

What an odd world we live in asking for 100k+ for knowing someone because its a “standard” thing in the business world. Sounds like crooks maybe ask for 500 million instead with a 5% yearly bonus and insurance.

Stuff like this helps me to see crypto is a fucking scam. Either you are lying about services rendered or you are greedy. Which one is better option? 30% of a salary that im not even sure sushi can pay looking at numbers(i cant read or do basic math). If this person gets paid they get 0 sushi tokens if this is a respectable project they get paid in fiat for being “standard” industry asshats.

Wonder how much longer before all of this shit just evaporates into oblivion. Maybe this is fantasy land and im misunderstanding how this works. In that case i want 50% of jareds wages and 50% yearly thereafter with a 24 hour cliff.

Also worth mentioning there isn’t a YOU GET NOTHING option listed in your poll

Glad to be of assistance, please leave industry forever

Welcome to sushi where 50% of the discussion and EVERY AMA is talking about compensation package for some online publication that nobody has ever heard of.

sounds real legit real up front real worth it for the community. and my guess is nobody wants to pay you or else it would have already been handled so good luck getting paid. :smiley:

Haha, that’s just like, your opinion, man. Always going to be an interesting experience dealing with an organisation when there isn’t a centralised decision maker. It will go to snapshot and we’ll see what the community say. Most companies are happy to pay us for finding them shit hot talent, Sushi isn’t a company though so we tried something novel in good faith.

If you want to chat and understand what we’re about then feel free to DM or reach out on Telegram. Or listen to the Sushi forum that @Web3connector and I were on. Link below: