Will she even be able to fix the mess Andy made? I would assume more layoffs coming in the next 6 months for sure.
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If she genuinely wants to make a difference and improve the company culture, she needs to remove the CIOs and their close associates. The culture is deeply broken, there's a lack of motivation and direction. People are coming to work simply because they need to pay their bills and have limited options in the current job market.
She should rely on real, unbiased data, rather than taking information from the CTO or CIO's at face value. It's time for bold, decisive action. The stock has remained stagnant for the past 10 years, that alone should signal the need for significant change. Otherwise the garbage in, garbage out factory continues...
GK watched this mess grow and then spiral off the OG's (old guys) power point. To me, she been painfully patient BUT most absurdly watching and planning for when she steps in. Now that Mr. C is out of the way in some sort of menial position, she will make her move shortly and I'm sure she is ready to rock a re-org. She has Tony Dolan's funeral behind her, and they've made the announcement of Scott Lippert's replacement, another handful of layoffs have been completed, the formalities are behind her. The next round of changes could be off the chart.
Earnings call is next week - curious to see how much of a firestorm it creates within the business. We still haven’t caught up from all of the asks from the last one.
I think you meant to post "How bad IS Gunjan?" as an obvious sarcastic poke, since we already know.
GK is trash as a leader. I worked with her for years. Very unimpressive and couldn’t hit a goal. The bank will continue to fall under her “leadership”…
She needs to clean up EFCC and AML complete chaos in that area, way too many layers of leaders.
Very ...
@ff+1jr5khm9h we were told he was retiring. Hard to really know when he was one of the many people on GK's initial list of people to remove.
Where did Kotwal go? Was he let go?
@c1+1jr5khm9h love that idea of reapplying but we all know they'd sh-t their pants if those "leaders" had to do it. Zero chance any of them will get an offer LOL! They are such dinosaurs at this point they would be lost in today's world if not for their insanely good luck at the bank.
She is party of the mess created under Andy’s leadership, so I don’t anticipate significant improvement with her at the helm. I expect we’ll continue to see substantial layoffs through 2025, along with an increased push to offshore support and technical roles.
As for the payments space, Kotwal’s departure was a blessing, he represented a major disconnect between Elavon and U.S. Bank. Since taking over, Runkel hasn’t demonstrated much in terms of leadership or vision. We’ll have to wait and see what he comes up with under GK's rule.
She should require every leader to reapply for their role — those who are truly qualified will stay. But the real question is: is she prepared to lead through that level of disruption? Without decisive action, the toxic and chaotic culture is not going anywhere.
What cr-ppy leaders is payments did she get rid of? News to me!!
Let's see if she can find the leaders and subject matter experts who can make a difference in the company, those who have been silenced for years now, or if she is going to continue to promote and support the people who drove the company into the ditch it cannot get out of.
Gunjan is going to wield the axe 🪓 starting from the top. Operation Bora Bora: Part 2
Since she didn’t waste time getting rid of cr-ppy leaders in payments and CBB, I would say she has a chance. Andy was not a good judge of personnel.
The beatings will continue until morale improves. Layoffs have been happening quietly on a regular basis.