Stern out Binford in at end of year.
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Technology today would like to announce a trade.
SGAS exchanges Stern, a consultant who has no operational capability who has successfully mismanaged SGAS into the ground, but made the investors rich and himself rich
for
Binford, the invisible man that travels the world with no results, who's got a board member that for some reason wants him in the ceo chair before the bankruptcy proceedings, who spends 2-3 years at each company before they figure out his incompetency or is fired quietly for other reasons
It sounds like anyone's guess unless someone can confirm. My guess the Sales SVP would keep AS on on the same trajectory based on his performance over the last 2 years.
Whats the over under on this happening? And what direction would the Sales SVP take us ?
I'm really surprised Stern has lasted this long....Hey, don't the board know that "Culture eats strategy for breakfast"? Change of leadership should affect change, but it's too late in the day... Sungard AS is DEAD in the water.
While I'm sure there won't be a tear shed over Stern leaving, there is no such thing as a CEO layoff. I wouldn't be surprised if the board has finally had it's fill of Stern and asked him to leave. However, he will most likely be able to take his $10M severance + other benefits and fade into history. As for Binford in as CEO?? Come on, this guy has had nothing to stand on as far as his sales leadership over the past 2 years. He's decimated the sales org from a staff standpoint, there have been no pipeline and no successes during his tenure. Just look at the WINsday emails, every week for the past year +. There's no WINS in WINSday. I guess stranger things have happened. Leadership normally rewards failure at the VP level with promotions.