This company just lost a billion dollars. They still need to get more tech savvy, efficient and lower operating costs.
Wilson signed off on Glenn's plan and the spin is Glenn couldn't execute it not that it was a failure.
The hope is the next person can execute on the strategy but I doubt it.
If you think this company is going backwards five years you are wrong
Tough to recruit anyone from geico and progressive to come over to allstate.
He has no choice but to continue to execute it…Too much money has been spent on it and even more would need to be spent to even try to go back…
Of course, the spin can’t be that TG is a failure…Everything preached to the investors over the last 5 years was that TG was the future of Allstate…
For now, the spin will be that TG goes on….At least for the next few years. Saying or doing anything else would spook investors and would prove that Wilson who signed off on these changes is an incompetent and would finally force the board to consider making the break from Wilson.