Within one to two quarters, a turnaround plan should be in place and initiated.
The guy has been on the board meetings for years, why does he need to travel the world to find out about the company?
Stages in the Turnaround Process
Stage 1: Change the Leadership Team.
Stage 2: Situation Analysis.
Stage 3: Emergency Action.
Stage 4: Business Restructuring.
Stage 5: Return to Normal.
Raul has left it to the highly paid DrummerG, Jimbo, and the Finch to do lead. His busy on his other businesses.
Unfortunately those folks haven't got a clue on running a big company and the Finch is never present(still working on Career paths for 4 years) . Mikey brought them in as friends on big packages, hebknew they couldn't deliver and would make him look good in comparison.
Some of the new stars are yet to prove themselves. Whu ghes (Security) and Stealam (Far East) have proved they are loss leaders in a growing market.
Needs to chop the Mikeys overpaid lot, get new folks in to work with Bovine, Wi---e son, and Del Bean.
Raul isn't doing any turnaround. His busy running his sports and other businesses.
His travelling the world getting his air miles and free holiday tour in, some of the other VPs are following his lead.
The top sure lead by example, hammer the expenses, travel around, do very little. Wonder if they have joined the Networks Campain.
Ahhh no PWC don't do mainframe. In fact nobody does. There is at least a couple of billion dollars a year there and a 500% growing market for mainframe every year as new customers install them...
Definitely something everyone else has missed.
Its a genius strategy and we will outperform Accenture soon.
Next big push will be for midrange, maybe Vax.
@5mps+1rjfcFZ5 Does PWC do mainfram though?
Accenture aren't a peer to dxc. Pwc would be their peer.
Both do a lot more than anything simply IT related.
As for kyndryll, who knows what they are doing other than under bidding to buy business.
Over the past year the S&P 500 is higher by 26.91% while DXC has fallen -27.28%. DXC lost -$1.91 per share in the over the last 12 months
Peers like Accenture (+42.31%) and Kyndryl (+47.23%) have done even better, but with share buybacks DXC EPS is stable so execs get their bonus. So no problem - nothing to see here, please move along.
Over the past year the S&P 500 is higher by 26.91% while DXC has fallen -27.28%. DXC lost -$1.91 per share in the over the last 12 months. “You can fool some of the investors all of the time, and all of the investors some of the time, but you can not fool all of the investors all of the time.” DXC is a dead horse....there is nothing left to "turn around".
We're in to Month 3, approaching Raul end of first quarter, we should be hearing about replacement VPs now.
What are they upto? Instead they are busy counting the loot, how many shares in pay they are going to award themselves this year for the excellent decline in revenues and shrinkage of the company.
This is one company where the top reward themselves for failure in a big way.
They should be getting minimal salary and the rest should be based on performance of how much they have grown the company. That's if they were actually capable of anything.
How the shareholders are letting them get away with this is amazing!
https://www.sec.gov/Archives/edgar/data/1688568/000168856822000027/fy22ex21-dxcsubsidiaries_f.htm
These are all the subsidiaries one would have to "TURN AROUND"......and most are on the downtrend.....good luck.....
Hey!
Sounds like a lot here believe in a turnaround and a bright DXC future.
That's amazing.
Let's see whether the discussion in 6 month will still about not getting a bonus, missing salary increases and shrinking revenues.
I guess next step will be a decline of workforce.
Drumgoole is on $4million, Finchy on $5 million, and Jimmy Brady on big figures.
Sally just bought them in as friends club, they aren't capable anymore they have proved that.
Yes Del bene the CFO is new so needs to be given chance, but a clear out needed desperately quick.
Raul isnt taking his time, he's so laid back, has gone past time, he doesn't look like a turnaround guy.
Please turnaround and we will show you the plan!
@1iqi+1rjfcFZ5 I cant watch the town hall as I'm outside the company (Still hoping those leak). Yes Drumgoole and Mary have been at DXC for a while but the CEO, CFO, president of modern workplace, President of Apllications are all new. That doesnt even mention that Luxoft lost both its CEO and COO. You and I both know theres a lot of vacancies. The biggest issue is the CFO without reliable numbers on buisness preformance you're flying blind. I get that people don't like Drumgoole and I'm not saying don't fire most of the C-suite. My only point is I can understand why Raul is taking some time here.
All these need replacing with better cheaper execs
How bout some grads or interns? Thought they were the way forward.
@1mmm+1rjfcFZ5 The execs that Salvino brought in from Ex Accenture have been in post for upto 4 years, Mikey bought them in on extreme inflated salaries as they were mates.
Raul has gone in public on the earnings and town halls and said they haven't delivered eg Marketing has been poor, security shrinking big, even Drumgoole himself admitted that he hasn't delivered last few years, listen to his recent town hall.
All these need replacing with better cheaper execs, that is usually the first turnaround plan of a company when the existing folks haven't produced the goods they need to be replaced, and new growth people need to be brought in.
We need to see some announcements soon if a turnaround is really what they are planning for, otherwise its going to be more of the same downward trajectory.
In his book who says elephants cant dance, Lou Gerstner the guy who did the IBM turnaround said for the first 3 months or so its important to just observe the buisness and try not to make any huge radical shifts in direction. Its true Raul has sat on the board for a while but the CEO job is very different especially when something like half the C-suite has been at the company for less than a year. Im sure Raul has faults but personally I don't think you can blame him for traveling to meet with the key buisness leaders and diging into the details.