Downgrading again of credit rating. Poor results. Low employee morale. Late implementation of integration activities (all sales were supposed to be on new CRM by April now it is only the US). Moving people to low-cost location but they can’t or won’t recruit in time. CFO who presided over millions of loss in LEX. Confusion over new organisation. No clear communication of who is doing what and new process. Unethical practices with suppliers and no paying them. CMO flying all over the world for no reason and yet no inflation raises for anyone. Inconsistent AI strategy. Unclear compensation plans. Stock declining. There may be other things ….
10 replies (most recent on top)
@d6
Steve B is on ZERO other boards besides Xerox. If you count a charity, he is one one other board.
Not qualified to be on a board let alone a CEO of a company.
He and LP are here till the end of 2026 as per their employment contracts. If they get let go before then they are owed full comp. They will not leave till they get every dollar and penny from Xerox. Its funny how payments to partners are being delayed, I guess to make our Q1 #s look better. Watch your payments make sure you don't get shorted in this financial acrobatic exercise.
@c9 agreed. SB is on many company boards, X is a part time job to keep divvy going for investors.
SB is not going anywhere. Xerox is setup like a the mob. You have a CEO who also sits on the board. So nobody can go right to the board without that bald id--t knowing about it. He will be the guy turning out the lights. Mind you, not sure he could do that without sc--wing that up
Won't happen until after Chapter 11 and even then questionable.
@aw Deason, or his estate, has preferred shares with a meaty dividend. His estate is doing fine.
Deason died a while back. WTF is his estate doing?
Xerox doesn’t have any real investor or owner base. There are no meaningful “owners”, which is exactly why SB feels no real pressure. Most of this stock is inside index funds that hold shares mechanically, not because they believe in the business, strategy, or SB. Let alone do anything!!
1. Vanguard Group — 8.9%
2. BlackRock — 8.6%
3. Goldman Sachs — 7.7%
4. Darwin Deason — 6.7%
5. Dimensional Fund — 4.7%
6. State Street — 4.0%
7. Marshall Wace LLP — 3.0%
8. Paradigm Capital — 2.7%
9. Charles Schwab — 2.0%
All passive and indifferent capital. 85 yo Darwin … where are you and why didn’t you sell????? LOL
Low Employee morale !?!
Understatement of the century
You sugar coated the daylights out of that. You should be a politician.
@OP he will not be asked to leave. Although your summary is accurate, nobody cares. If this was a real company, actually trying to survive, he would have been waxed years ago. Can’t wait to see his 2025 comp.