Intel makes the America's 5 Worst-Run Companies of 2020 list. Is anybody actually surprised by this?
Swan took up the reins at Intel Corp. (NASDAQ: INTC) at the start of 2019. Since then, the largest chip company repeatedly has been overwhelmed by the competition. Its shares are off 13% this year. The stock of major rival AMD is higher by 106%. Nvidia, another competitor, has seen a 130% gain.
https://247wallst.com/business/2020/12/08/americas-5-worst-run-companies-of-2020/2/
Wonder who all the Bob apologists are? His mama browses this forum? The one thing Bob isn't is poor, thanks to all his stock buybacks and egregiously unfounded comp package. $99M in 2019. He get paid higher than Lisa and Jensen combined. https://www.investopedia.com/highest-paid-ceos-2019-4687532
To Bob’s defense the screw up happened well before him. The company culture went side way’s with ACT where the morale of the staff was basically k–led from one day to another. To make things worse the inclusion and diversity program was started while major tasks got shipped to Bangalore... Every CEO candidate could smell this sh– - eventually we got stuck with poor Bob. ( I’d say the ones to blame the most are a couple of Qualcomm guy’s we hired. I’m certain they made good money with their former Qualcomm stock when dumping Intel ...)
bob swan care more about his money than his employees
As individuals who have been able to spin major screw-ups in their annual self-evaluation with phrases like “delivered significant impact ...”, perhaps Intel executives can turn this into PR win ... “Intel makes top 5 list of companies”.
Everything is relative, remember before BS there was BK, hard to be worse than that.
Of course Intel is in really bad shape, never has things been so grim and never was it so clear the BoD and senior executives don’t have any skill or core competence or background in the business, laughable and terrible failure of governance by the BoD but look at the BoD and their background to appreciate why bad executives have free reign to do whatever without scrutiny
Being a horrible CEO in the record books will be a tolerable legacy for BS to endure because of the millions and millions he took home.
Even though he inherited a mess, when Swan takes in $99M in total comp in 2019, you better believe the buck stops there. He might have reluctantly taken the job initially, you best believe he wasn't reluctant in cashing those $99M worth of checks and using the Intel treasury to conduct an insane amount of stock buybacks. You think that $10-12B per year spent on buybacks would have made a difference if we invested that in retaining or poaching top tier talent?
Not defending Swanny, but most of Intel's issues aren't his fault. He's a CFO who became a reluctant CEO when no one else could be found (or wanted) to take the job. Of course he's going to run the company like a bean counter. The incompetent management culture is ingrained with zero accountability. Keller couldn't break it, Murthy couldn't scream his way through it, and Raja can't future see his way out of it. The slow dismantling should not surprise anyone.
No surprise. The CEO has done nothing to fix Intel's overstaffed and ineffective management ranks. They are like clogged arteries of an elderly patient that prevent the muscles from doing any work.
No surprise but it's just somebody's blog. If Forbes or Wall Street Journal published something like this, it might catch Bob's attention. Still, it bites being in the ranks of Macy's and Ford
Hahaha this should be required reading for every manager. I wonder what it feels like to drink the kool-aid so much that you are blind to reality. To add insult to injury tech companies are dominating during covid, it is absurd to have this level of pure incompetence.