Thread regarding FTD layoffs

New CEO just hired

Here's a Forbes article on the past experience of the new CEO.

https://www.forbes.com/sites/micahsolomon/2018/12/29/how-tumi-transformed-its-customer-service-to-be-as-bulletproof-as-its-luggage/#7d85f7a50e56

Someone who has a proven track record of successful transformation (clearly, despite 15 or 20 plus years of tenure, Nexus Capital lacked confidence that anyone internal was capable of succession to the CEO role).

I'd be more worried if they hadn't onboarded a brand new, externally sourced CEO. 1-800-Flowers has been gaining market share (it's easier to gauge performance of external competitors when they are publicly traded, as opposed to private).

They need a high profile CEO, because no one knows the company sells flowers by name alone (especially younger consumers).
Telaflora? Oh, you get it. You pick up the phone and you get flowers. 1-800-Flowers? Again, you get that you pick up the phone and you get flowers. FTD? What's that? Who are they? Millenials have no clue to call FTD to send mom flowers while away at college. That's a huge market lost on them. They needed a high profile CEO with a new perspective.

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| 991 views | | 2 replies (last May 11, 2020) | Reply
Post ID: @OP+14LtWtIt

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Not sure how reputable this website is (be forewarned), since first time coming across it, but if anything is accurate, hmm...

89 percent decline in share price at Eastman Kodak under former CEO's tenure?

https://exechange.com/12893/kodak-ceo-jeff-clarke-leaves-abruptly-2

Aha. So this leader maybe was brought in as interim only because (a) he needed work and (b) he had experience running a brand in decline?

Eastman Kodak's problem was mainly the process of disintermediation. No one buys digital cameras these days when iPhones take great photos. Took mine to The United Center while sitting in a former employer's corporate skybox (great view) during a Blackhawks game and could make out the 88 crisp and clear on Patrick Kane's jersey in the photo. Those skyboxes are fairly high up. Why would you need a digital camera with such high quality iPhone cameras?

So, their issue was bigger than a CEO, but it might explain why this exec was brought in as interim only.

Just a theory.

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Post ID: @9zwz+14LtWtIt

he sounds like he knows what he might be doing. FTD is antiquated and throwing money at the wall and seeing what sticks is the previous FTD managment strategy. not having 3 different systems to handle data.

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Post ID: @2klv+14LtWtIt

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