How can Steve B still be here when you look at the results (internal) and the stock price (external result) and the trend over last 4 years (consistently down so it is something systematic). I am genuinely asking as to how the dynamics and politics of being a CEO work. I don’t get it
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Because he’s here to execute and complete John Vs plan to sell the company, no matter what. All will be clear this year.
Doubtful that he will be CEO much longer, he's lost the confidence of Wall Street and his employees, 4 years as CEO, plus several years as 2nd in command, ongoing missed targets, revenue declines, and constant excuses, constant reshuffles and payments for dismissed leaders, doubt many corporate leaders in the same position would have lasted this long.
He's like the GM of a hockey team that does all the dirt y work, so the next guy has a clean slate.
@a9 the stock is of no relevance. It’s not fiscally possible for it to return to the heights of 5 years ago. It’s just not possible . Can’t go up a dollar or two? Sure - but it’s never Ever going to reach the heights it once was. I’d be interesting to see what stats are out there concerning turnarounds with this this type of situation. As many people have mentioned it’s a lost cause - investors are doomed.
@a5 I'd do it for his pay or even a little less. I obviously dont need to deliver results so easy money
@by I agree and that’s an interesting way of putting it
Because XRX in not really a going concern. It is a club, and you are not a member. Look at our list of shareholders and you will be able to understand why they dont care. Very low values sitting in funds. No shareholders even think about XRX anymore except about when to pull the plug and trigger a tax loss. Therefore SB's only function is transferring cash from XRX to SLT and board members until they cannot borrow anymore. Gordon Gekko would be proud!
@a4
I'll repress as much vitriol as I can, but if the product doesn't matter, then buy a used Yugo as your next car.
People mix things up at this stage. The “investors” are not shareholders anymore, it’s all the people who lend us money. That is why the share price is not relevant anymore besides the runway to delisting.
Keep in mind Xerox is no longer invested in the company, we license the brand. Effectively we are a reseller of the brands.
7p… can you read a stock chart? How is he returning money to the investor's when the stock is down 94% in the past 5 yrs. Not doing his job for sure, but no return either.
Not sure if anyone recalls but a couple of town hall meetings ago- I am 99% certain he said he sleeps good at night.
That statement says it all.
@a4 Agree, so what explains SB's survival? Last couple of years of stock price hasn't exactly been returning value to investors.
Manipulative narcissicists play charades like normal people breathe
Another good question is whom would come in and do what is needed to turn this ship around without taking full ownership (taking company private)?
The perception of a CEO of a publicly traded company is wrong. You see them as a hard working, company loving people person.
It's wrong.
His only job is returning money to the investors. That's it. Keep up the charade and return the money to the investors at the cost of the company.
He is willing to cut the entire company to make money, the company itself does not matter. We could be in the energy business, automobiles, doesn't matter. It's the same goal, the product doesn't matter.
CEOs get hired and make sure they have great board members whom will vote to keep the CEO. The CEO is employed at the blessing of the board.. plus whom in their right mind would step into this right now to fix it.