Teradata missed some major market trends for sure - but most if not all of the issues being surfaced on this site track directly to 4 people. It is not fair to call out the entire ELT. These 4 are: SM, HA, NC, and KCC. If there is a RIF, take out these 4 and replace them with smart, experienced executives to cover their areas and despite all the mistakes TDC might actually survive. You may add SB to this list since he has been CTO (at least in name) the last 20 years). So let's say five people. Take out these 5, which have the total compensation of 300-400 regular employees) and bring in replacements instead of cutting hard working people who are just following directions.
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How can the board continue to approve such lucrative compensation when the company performance is so dismal? You are right, in the NBA or almost any other organization if the team does not perform, eventually they trade out the management team.
Whilst you don’t get relegated in the NBA, the fans and other players will probably find another team unless they are performing.
In Teradata’s case, it’s the customers and employees that are leaving at unprecedented levels but the management team still get paid extremely well regardless of their performance.
That proxy statement is remarkable. Apparently Teradata seems more interested in putting people into categories than it does in winning in the marketplace.
Its like an NBA team giving an annual report that says "we came in 9th in our conference, but our roster consisted of 8 Black players, 4 White players, 2 Asian players, and 1 Hispanic player, which met our DEI objectives".
Well, could be quite tricky to get rid of the board and the ELT at the same time…
https://s23.q4cdn.com/501457330/files/doc_downloads/2022/79d3c788-c7de-48ea-9e7e-954531df36ea.pdf
And the board doesn’t think anything is wrong according to the board meeting invite from just a few months back…
Meanwhile, the ELT are selling their free shares as quickly as they can.
Private equity would appear to be the next stop on this train crash unless someone has asked a well known actor to take control of the locomotive ?
It's because the board is part of the problem. Now nine board members, excluding SM, each on huge retainers plus stock, are supposed to represent the interest of the shareholders. It won't be long before large institutional investors have had enough of the board's incompetence. Compounded further with the incompetence of SM, HA, NC, and KCC, it does not look good for shareholders, customers, or employees. More RIFs in late August and following quarters until something at the top changes, starting with the board. Shareholders S.O.S
How long before the board makes changes?
- CT
JW is also a horrible hire but as CMO she can’t do too much damage. Teradata has such a stale, legacy brand so Marketing is irrelevant. RP followed by HA leading development was the real nail in the coffin. Plus OR mad some huge mistakes too, so three consecutive poor product heads. And a part-time outdated CTO. It’s sad.
In reply to my own post, I see Black Rock and Vanguard are among TDs largest shareholders. No doubt they get some say in who the CEO is and who he picks as his ELT.
Never forget that HA and KCC were hired by OR. And if they had never been hired, there would be no SM or NC. So the question is why did OR jump on board the woke train when he became CEO? I don't recall him being concerned about that subject prior to becoming CEO. Also, why did OR get the boot when SM, who is clearly much worse, remains?
Hey buddy - put your pronouns on you email signature, take all your social training, and be quiet. Who told you to speak up???
So freakin true! How can four progressives hijack an entire company and drive it into the ditch while the board and everyone else sits by and just watches it. Shameful
I would love to schedule a 1:1 call with KCC late the day before when she has been worried for weeks about losing her job, then join the call and let her know an HR rep is also on the call. Read from a script and tell her "your position is being eliminated" thank you for your service. (She can check the job openings on Teradata.com and see an open position for "Chief People Officer) Stay on the line and the HR rep will explain your severance and COBRA options. When this happens, please record it...