We have leaders who know they're incompetent and who have surrounded themselves with yes-people so they can never hear any criticism of their decisions. That's why we keep losing our best people to layoffs and attrition. There's nobody brave enough to tell them this is destroying the company. We need new leadership, ASAP.
1 reply
Back in 2016-18, B-Mac instituted a transformational plan called Fueling for Growth.
This entailed severe cuts, reducing redundancies and re-orgs where middle management had to re-interview for their own positions. Services were outsourced, clients suffered. and word got out that CDK was on the auction block with reduced overheads and improved profit margins. Except no on was buying. Social media picked up on this, including Forbes. The board released B-Mac and hired on BK from intel to staph the bleeding and get back into good graces with our clients having their 3-year renewals coming up. CDK practically sold them the store.
This cut fulfilled his promise to Brookfield that he would boost profit margin by 7% on day one of his return. This was all mapped out prior to the acquisition and all B-Mac's idea. Apparently skating away with $12M in dividends wasn't enough in 2018.