The company really went downhill the last 5 years and seems like every decision the CEO has made has been wrong, every direct hire bad. This can't be right, what have been good decisions?
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He has kept and been fully supportive of his executive female diversity hires regardless of their business contributions, example business excellence. Diversity over business sense! That's pretty cool
It definitely won't be the initiatives supported by the Business Excellence team!!!
Lyve is an endangered initiative. The ROI has not materialized. Which will die first: Lyve or near-term HAMR? More people will be impacted either way.
To be fair to the CFO, he has been advocating trimming of these perks for the executive cadre too. Not he isn’t heard by the Manufacturing/Factory guys, the sales guys and those blasted marketing guys. Engineering has always been more frugal.
I remember when he decided to cut all business class travel for flights over 6 hours except vp and above while he and SVP+ flew private jets. Save a few million from the peasants to fund the lavish lifestyle of the senior execs. Great decision!
They say at Seagate execs are issued a darker pair of rose-colored glasses with each promotion. Mosley's are darn near welding goggles at this point.
He decided to buy a pair of rose colored glasses that make him think HDD solves all problems. Great decision for him, bad for investors
Just before becoming CEO, he was the brain child behind buying xyratex, dot hill and LSI. Genius contributions to the company's costing $1.5b.
Have you been informed that Seagate now identifies mainly as a CSP and not a storage manufacturer? Look at the companies home page! You might be surprised! I’m trying to think when this new direction and major brand identy change strategy was announced to employees. Oh yeah, it wasn’t.
The company is now trying to become primarily a cloud service provider that still happens to produce storage devices. Just look at the company home page to confirm. Will this decision be the right one time o grow the company? I look at other newly minted cloud companies like snowflake and they are losing money.
Seems most of the big mistakes were based on wet dreams, the jumbo plant in Malaysia that had to be sold, the Solyndra building in Fremont that’s too big to maintain or fill to capacity, HAMR drives that has failed to materialize year after year, discounting of SSDs as a viable revenue stream, the business excellence team that seems to be nothing more than make work for idle executives. Seagate needs new leadership and get rid of some of the boat anchors that threaten to sink Seagate.
He decided to pretend to the board that hamr was a worthy investment and keep engineers working 5 years longer than they would have if the board knew the truth, that is an extra $2b investment in something that will never scale. He did fire Pony Tail when he told him the truth years ago. Very bold to lie to the board and investors, kudos!
It would be interesting to correlate the number of shares granted to executives, along with the increased dividend over this period. I won't be surprised if greed started getting in the way of business and engineering decisions.
On the 7th day he created the business excellence team