There are strong indications that the Chief Executive Officer of Racksterli Establishment, Mr Michael Chidiebere, has stepped down temporarily from his position.
He dropped this bombshell idiomatically during his most recent update to investors of the company.
He wrote on his WhatsApp status: “looks like people miss the old Blackgold…to this new Blackgold that has decided to allow the company’s board of directors and legal team to handle things.”
Prior to this recent update, Mr Michael Chidiebere practically sent a message to every investor that he is no longer handling the affairs of Racksterli when he edited his personal Instagram page.
There is no doubt that thousands of investors have been left to wonder why he had to edit his Instagram profile and removed the ‘Ceo of Racksterli’ from his personal Instagram account.
There are several underlining factors that may have led to his decision to dissociate himself from the company he founded with Benart TV back then in June, 2020.
Mr Michael Chidiebere had to step down because of his general well being, the mental, physical, and psychological stress he has faced since the crisis in Racksterli began in March, 2021.
He is really stressed out; and it was similar stress that almost led to his unfortunate death in March, 2021 after he had a ghastly motor accident.
Another reason he needed to step down boils down to his lack of effective communication and inexperience in management skills.
Mr Michael Chidiebere knew how to generate revenue to keep the platform running, but he was never good in management skills.
He never really knew how to balance between the goals of Racksterli and the needs of investors.
Could this be the reason he was constantly changing things and things, bringing one innovation upon another, creating difficulties for investors, and messing up with investors’ thinking faculties.
In light of recent happenings and expositions on his bitter rivalry with Benart TV, it has become crystal clear that Mr Michael Chidiebere has never been great in management.
To understand how the bitter rivalry between Racksterli and Fieldsmine establishments connect everything together, kindly read this article: BlackGold and Benart TV Making Thousands Of Investors To Suffer For Nothing.
You may also consider reading this as well: Exposed: How BlackGold / Benart Tv Rivalry Is Tearing Apart Racksterli Establishment.
Meanwhile, the backlash Mr Michael Chidiebere received from investors from June 7, 2021 to June 10, 2021 after he attempted to reopen the Double Coupon Package Offer scheme may have also affected him as well.
He launched the Phase 3 of the Double Coupon Offer scheme exactly three days after shutting down the Phase 2; everyone remembers vividly how he repeatedly warned that the Double Coupon Offer scheme may likely not be opened again.
Thousands of investors who keyed into the second Phase of the Double Coupon Offer had not received their codes.
They were constantly screaming, lamenting, and dropping their complaints on telegram.
They felt betrayed and deceived by Mr Michael Chidiebere, considering he announced to investors earlier that the second Phase of double Coupon Offer needed to close so that the management can sort out the backlogs and deliver codes to those who paid for them.
Finally, it is worth noting here that the legal team of Racksterli needed to take charge following the lawsuits against the company by aggrieved investors.
It is exactly unclear how long the legal team will be in charge of Racksterli, but there are signs that Racksterli may only return to normal after all legal litigations have been settled.