Such a great day for Fiserv. She caused more problems than she fixed, and she can’t even speak properly during conferences.
32 replies (most recent on top)
She had the presence of a rock - not a good leader by any metric - never should have been brought on board - she is the epitome of everything wrong with exec leaders
All Fiserv lawyers should be replaced!!
@j6 Exactly! Does anyone have the number of new VPs/SVPs that were hired? I bet it’s more than that were let go! I would also be curious about the financial impact, including the CEO and president. I bet it’s close to 1B just vanished Sayonara!
Shouldn’t we also be talking about the 30 other new hires in the executive ranks? Cut half of them and hire/pay the people doing the work.
@fa had to be a Lyons decision to allow that. Thank god both are gone.
For some reason I thought Todd was hired first. I guess I was wrong. DS got a ‘good reason’ clause. Todd got a participation trophy and a lease he can’t break.
lol Fiserv didn’t want to pay Dhivyas retention price but paid Todd’s. Says all you need to know
@f8 she was probably giving up valuable unvested compensation from her previous employer to join Fiserv so negotiated that to protect herself. I think Fiserv didn't expect ML to leave within 12 months so they were probably OK with that as part of her contract. IMO that clause was too generous. It should have required more than just simply the CEO changed within 12 months. Another note, Fiserv gave our CFO $5 million in RSUs in exchange for his acknowledgement that he would not have the ability to resign for "Good Reason" because ML resigned.
@f8 It’s like everyone signed off on her contract blindfolded — ‘here, take $20M, even if you’re only sticking around a few months. Meanwhile regular employees are getting nickel-and-dimed for promotions and raises.
@f4 is it? I’m curious which other teams actually praised her process flows. From what SK said today on one of the calls, it sounded like he was implying the clients were relieved he replaced her — pretty smooth self-promotion, if you caught it. lol
What lawyer would ever (our CAO) allow someone to get paid $20M if the CEO quits! Can't make this sh-t up!
@f4 I'm the lowest man on the totem pole so nothing Dhivya did (or didn't) affected me. But hearing what she said on an All Hands Call, the Town Halls, and various articles about agentOS etc it was pretty clear to me she was way out of her depth. She didn't have a deep understanding of our Financial Solutions business and made decisions based on that ignorance. She didn't know the difference between AI and workflow automations. She couldn't articulate any clear vision or strategy. Just the wrong person for the job.
Wow you guys really hated that woman… is it mainly tech that disliked her so much? I think other areas were on board and excited about some of the process flow changes she was looking to implement.
FYI - $20 million would probably pay for an additional 1% match to everyone's 401k.
With her "good reason" clause about Mike leaving in her offer letter. Honestly she would be d-mb not to quit. She only had 60 days to execute that clause. If you look they gave the CFO $5 million in stock to not do the same thing. We don't know what happened behind closed doors but she walks away with probably close to $20 million for working just over half a year.
@d9 if the financials were so great, why is it trading so low and Wall Street is avoiding it like the plague? Oh wait, apparently I’m financially illiterate and don’t understand that low-stock price, executives leaving in droves, selling off key assets and carrying 20 billion in debt is totally normal and a sign of a healthy company. Give me a break.
And she's now "erased": https://www.fiserv.com/en/about-fiserv/executive-leadership.html
Didn't take nearly as long for them to erase ML...
@d7 she was fired and given an opportunity to resign. Takis is growth focused and will not tolerate any detractors.
@d7 eh there’s nothing in the company’s financials that suggests an upcoming bankruptcy. Definitely carrying a lot of debt though.
@d6 So if you missed it the other threads on this site, the company’s basically headed for bankruptcy, and that’s why she bailed.
A lot of frustration, misogyny and racism on display here. Vent it for sure, but with Dhivya out now (and I am no fan of her), will Fiserv’s problems be solved?
The millions Fiserv lost could've gone to the employees. got it.
@ac she's a big fraud in my belief.
@a9 I bet you stink LOLOLOLOLOLOLOLOL. Diva, go play in traffic.
I love how FiSuq spent millions on Dhivya and then told certain grades that they would not be getting a raise. This place is a total joke and will fail within a year.
@a9 Only the ones who lose their job are the unqualified ones. In just eight months, she was exposed as unqualified and got fired. She didn’t leave voluntarily. no one does after only eight months of hire. Her last two jobs were also cut short. She is a fraud
“Earns” spat my drink out LOL
Unqualified?? She earns 10X your salary and is 5X more qualified than you. That’s why she gets to leave for an another C-level job and you are still here whining cuz you cannot get another job. No one wants you and that’s why you are stuck here!
@a1 Completely agree and on her knowledge for the job too.
lol 7/7 great day indeed.
FiC0mmie going down the tubes at breakneck speed.
Zero executive presence. Maybe she will take some speech courses during her time off.