There are 11 EVPs on the Executive Leadership Team, not counting the other EVPs that report into EVPs. 3 hired in the last 3 months - who should go first?
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I not sure anyone would dispute SB’s (the contractor) intelligence, rather how he has worked the system for years. He has had conflicts of interest for years which is why he is a contractor. Unless something has changed, he adds little to the company technology strategy which is one of the tasks for most CTO’s. TD brought on board 20+ years ago to be an evangelist (and stop his consulting firm from promoting Oracle), which worked for multiple years but began to stale as open source and cloud evolved. He is definitely smart.
I guess @11XqL7H1-4pqh never had a conversation with Brobst or would know he's a very smart individual.
Brobst has always been a contractor ... TD is only side consulting for him (TD pays him a lot for nothing). He has multiple consulting agreements and his own consulting company. I highly doubt this guy is on top of technology as he wants us to believe. Just like OR - reads up stuff and markets as his own idea ....
There are two members SB on ELT. Status of which one is contractor and which one employee...?
@11XqL7H1-bxc SB is an employee, not a contractor....not sure where you got your info.
The entire TD board and the EVP should be fired. I hope they find someone from Wallstreet who comes after all these id–ts and gets rid of them. I hope the CEO VL get's fired as he has created most of the problems with OL, Karen and others. We don't have any professional services revenue nor we have hardware revenue. The question is if we can't sell hardware nor PS then what are we left with? keep firing good employees and keep hiring new once? Well that strategy hasn't worked for last 5 years.
The company seriously needs to think why so many EVP's and VP's? Teradata is the only technology company in US where you will find maximum number of non-technical folks collected at the top with no value. All these id–ts can't even spell Teradata let alone explain the architecture to a client. I can bet money if you gave the top TD execs a test on simple 100 questions on Teradata they will not be able to answer 10 questions. so much for the BAIN strategy in the past 6 years.
These management folks have ruined lives of dedicated employees for past 6 years and I suggest we get rid of all of them. I have some names of the top guys who have added ZERO value to the company in past 10 years.
Yes, SB has always been a contractor. Keeps conflicts of interest with his consulting business somehow. Been a joke for years.
It is now likely to get much worse before it gets any better.
There has been too much flip-flopping and poor leadership.
Analysts, the market and employers are perplexed. Rightly so.
Not least, because CEOs normally only jump ahead of a full-blown scandal or something bad.
Like never before - people are considering other options.
Other than the long-termers (like me) who are just holding on for a nice payout.
The share price is heading lower and there is always the buy and strip option. I am hoping for a buy offer with a reasonable share price to cut my losses
It's a perfect storm. A bad nightmare. Something that MBAs will use as a case study in future years.
Everyone is perplexed, not just the analysts. No one internally knows how the strategy is being executed - it's all just spin that there is a strategy. OR made knee jerk decisions, including the 4 new EVPs recently hired, He was no visionary, just someone who jumped on every random idea that he got from management books, or his management certificate program, which featured Danaher as a case study. This resulted in his hiring BJ and trying to implement manufacturing processes at a software company. Teradata isn't making widgets - it's a services company. The question is how long does it take to unravel all of these bad decisions over the last 2 years while OR was effectively in charge.
Stifel’s Brad Reback is perplexed about what is going on with management and the board. “Commentary on the call suggested this transition was due to the board’s desire to be more focused on execution (e.g., being a visionary doesn’t always translate to great execution) and performance below expectations,” he writes. “We are left confused as to how the board did not have a better understanding of Mr. Ratzesberger operational execution issues given his long tenure at the company. We note 7 of the current 11 board members have been with the company since 2015. We wonder if the board is not also in need of some refreshing.” He cut his rating to Hold from Buy, with a new target of $25, down from $60.
Citigroup’s Tyler Radke, who already had a Sell rating on the stock, cut his target to $22, from $28. He is also confused about the CEO change. “Execution has been a challenge this year, but not any more so than past years, and with a number of possible impacts (restructuring, business model transition, new sales leadership) we just don’t see how this justifies such a sudden and dramatic change in leadership,” he writes. “We see risk that the CEO change could drive further fallout / upheaval and have more of a negative impact than the company realizes.”
UBS analyst Jennifer Swanson Lowe, who also has a Sell rating on Teradata, cut her target to $25, from $32. “Teradata is approaching the completion of its business model transformation, but the sudden departure of CEO Oliver Ratzesberger adds another change into the mix, while the Q3 earnings miss and reduced 2019 guidance won’t help sentiment,” she writes. “We think TDC shares continue to drift lower as investors await further news on the CEO front, and until we see more evidence that the model shift translates to an improved growth and profitability profile for the business overall.”
On Friday, Teradata shares are trading down 23%, to $24.03.
Did you know that SB isn't even an employee? He is a contractor.
Certainly anyone hired by OR or caused to be hired by OR through his bogus Top Talent initiative MUST BE FIRED IMMEDIATELY. The virus must be completely eradicated. OR was a terrible judge of talent.
Agree 100%
Every last one of them.