Micky Salvino needs to take lessons from one of his Customer the Rolls Royce Account.
The new CEO has been in for 2 Quarters and his turned things around, profits and cash flow surge, Whilst Micky has been in nearly 16 quarters (4 years and still sinking)
The guy is on less than half of Mickys pay. That's the difference between top execs and past it Accenture gang.
Micky go and see him.
We are making changes. Investing in path breaking products like Platform-X and modern workplace and hiring talented exec's at Market Salaries and above to help us grow
Its getting very boring shooting down these ChatGPT hallucinations (almost as frequently as having to say there are no pay rises. Ever. to every second topic on this forum).
There is no investment in Platform DXC (cancelled last August in spending cuts)
Modern Workplace is a misnomer - look at the revenue declines every quarter in this BU
Not a single talented exec has been hired in past 4 years - just Accenture rejects
There has been no growth in the entire 6 year history of DXC
The one part of the comment that was partially correct was "market salaries and above" ... way way overpaid execs have been hired, then they award themselves unjustified pay rises via stock that has been inflated by spending the pay rise money on stock buyback instead ...
@3oxd+1nNod7SY - Yes, you are bang on. We are making changes. Investing in path breaking products like Platform-X and modern workplace and hiring talented exec's at Market Salaries and above to help us grow.
@3pli+1nNod7SY if its all about planes then Mickey had the same oppurtunity when IT boomed during, everyone was working remote and heavily dependent on systems and he should have convinced customers for upgrades after covid.
Yet all we see is declines and cuts.
Sometimes you have to accept the leaders aren't good enough here to turnaround this ship, some of them are mediocre and are just taking the money.
Think Mikey himself is OK to run a large unit but not capable enough to expand a global company like DXC.
It actually has everything to do with planes flying. Their Total Care plan was modelled around uptime for engines in the air.
Through TotalCare both Rolls-Royce and our customers are rewarded by keeping engines on-wing and in service, aligning our business model with the airlines’ goal of keeping aircraft flying. TotalCare is charged on a fixed $ per flying hour basis, so we are only rewarded for engines that perform.
If planes aren’t flying due to covid their income was decimated. Pretty easy to recover from that. Make a few org changes and look brilliant.
Got nothing to do with flying planes. The were many structural problems at RR, large debt, and other issues. The guy has made big progress in 6 months. See below how it was in January 2023, and now they are talking profits and the share price has nearly tripled. His started a transformation journey. Salvino needs to sit with him and learn. Sally has got so many sh-t execs and managers with him, things need to change, Mary needs to go, need good Marketing to start with.
January 2023
"Rolls-Royce's new chief executive has told employees the company must transform its operations or the firm will not survive. In a global address broadcast to staff from the FTSE 100 group's UK manufacturing site in Sinfin, Tufan Erginbilgic - a former BP executive who replaced Warren East as chief executive at the start of January - warned investors were losing patience.
In extracts from the address attained by the Financial Times and reported by The Guardian, Mr Erginbilgic claimed issues could not be blamed on the pandemic. He said: “Every investment we make, we destroy value [...] we underperform every key competitor out there”.
He added: “We do have a burning platform, not because I say so but because of what I am going to share with you [...] Given everything I know talking to investors, this is our last chance. We underperform every key competitor out there [...] Every investment we make, we destroy value.
“[It isn’t] sustainable, Rolls-Royce has not been performing for a long, long time. it has nothing to do with Covid, let’s be very clear. Covid created a crisis but the issue in hand has nothing to do with it."
TBF Rolls Royce depends upon planes flying, quite easy to boost profits in the last two years compare with the previous two..
@OP- "Micky Needs to see Rolls Royce"
I am sure he sees quite a few every day, in his garage... given the bonuses he has been bestowing upon himself
Salvino has very thin skin and gets easily flustered by customers
Salvino doesn't meet customers, they are not worthy his time, he's too busy counting his not so well deserved pay rises.
Rolce Royce does innovation in high tech area and hence the CEO is paid less.