OpenText company having weak leadership. Management making poor decisions, causing many problems. Employees unhappy, many leaving job. Company need strong leaders to fix issues and improve finances.
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You'd have to go after the board. MB is there because the board allows it. The board would need to be sued for breaking their duties.
Share price is now at a 5yr low.
Our competitors over past years share prices are
IBM +110%
Broadcom +702%
Oracle +239%
Salesforce +81%
How does Mark survive?!
Mb should go. This self centred guy is more focus on writing his books and home improvement than actually developing a company. Underperformer for sure.
Shareholder here. Anyone interested in filing suit? Tired of the losses and fraud.
It's such a weird company. They preach the benefits of innovation but it is never embraced because it requires doing something new. The business processes (and ELT) in place actively qwell newness. Innovation requires some level of risk tolerance, and the business has none.
Sadly, Mark B. thinks he is some kind of genius but really doesn't have a clue how to lead an innovative company. He rules with fear and arrogance and that permeates through the ranks of the company. The stack ranking and culling that happens every year destroys the culture such that everyone is looking out for themselves vs. doing what is right for the product and customers.
While the market has overall risen in the last 5 years, OpenText stock is down 40%! Why does this guy and the rest of the ELT still have jobs?
The everyday worker is also afraid to speak up. The culture has completely changed from collaborative to backstabbing. What is tolerated today gets accepted tomorrow.
What is Mark's backstory? For someone who likes to talk about himself during internal company wide calls and events, like what he is reading and his recent activities, he never references family - partner, children, vacations. And then there is the dark clothing. He always wears black clothing. Is that related to Steve Jobs - he even wears black with denim too. Is Steve his business hero and who he wants to emulate?
Anecdotes that tell you just who MB is -
One of his admin staff once told me that at any meeting with the ELT, handouts of all slides were provided. The rest of the ELT got their printouts on regular printer paper, but Mark’s had to be professionally printed and on super expensive linen paper. So slides had to be delivered to his staff at least a day in advance, and that it cost around $1000 every time.
I sat in on a meeting of some respected OT leaders who were asked to present to the ELT on their ideas to improve customer success. When their presentation began, Mark initiated a sidebar convo with another ELT member, clearly making the point that he wasn’t interested in what they had to say. Presentation stopped and speaker looked embarrassed and confused. One of the ELT members (a new one) had the ba--s to ask Mark to basically shush and pay attention. Mark glared at him. Asked speaker to continue, and when she did, he started the sidebar back up. It was the most awkward, rude, shameful moment I’ve ever experienced. He lost all respect for every person in the room. The ELT was so embarrassed, but too afraid to do anything. The ballsy ELT member who spoke up was gone within a month.
What does it say about the character of man who tries to get into a pi----g match with a worker who dared asked why the stock analysist didn't take kindly to 2nd quarter earning results. Puffy chested, saying the stock was up 4%, (for ONE DAY), when it's down over 40% in the last 5 years. This isn't the kind of statement a wise man would make.
Who brags about telling employees in the past they had to choose between work or family and years later, some how found religion and now thinks a balanced life is good? Great leaders don't behave this way. They don't have to.
The Lead to Elevate event is for sales teams (managers and above) across the global footprint, sometime in early March, for training.
What is Elevate to Lead? When is it happening?
What's with the tremendously expensive 3+ day Elevate to Lead event that every manager and above worldwide is attending in person in Toronto? Travel + hotel + F and B + ground transportation+ misc + speakers equals 1m+ ? Is this to re-train people managers?
You can see from their interaction in many meetings that they (VPs, C-levels) show their obsequious and obsequious attitude. When M.B asked to speak, they speak obediently when asked to sit forward, and they do not dare to contradict him at all. MB is like the emperor; such a CEO will only lead the company to death.
Board weak, investors weak. It will never happen.