Boeing’s downfall wasn’t just about faulty planes—it was about a corporate culture where non-technical managers sidelined skilled engineers. They hired their own clueless minions, who simply echoed their bosses instead of challenging bad decisions. Sound familiar?
I see a similar trend unfolding here. If you’re not a yes-man or if you pose a threat to leadership, you’re either pushed into an insignificant role until you’re frustrated enough to leave, or you’re simply cut. Just look at the number of strong technologists we’ve lost. The writing is on the wall—things will only get worse from here.
With a new CEO in place, there’s a chance for her to turn things around. But it’s going to take real leadership—bold, decisive action—to clean house at least three levels deep. Otherwise, welcome to the next Boeing.
5 replies (most recent on top)
It was not perfect under Richard either - depending on what area of the bank you were in the pay could either be below market and/or the credit box could be far outside the market.
We had strong technologists?
Yes, but instead of doors flying off planes and actually crashing, it's going to be stock value and efficiency falling out of the sky.
They'll post profits in Q2 and attribute to "smart market maneuvering" when it's just payroll that was saved during the layoffs.
It's cr-p what the new CEO is about to inherit. They're not d-mb, they see what the company is right now. They need to decide to whether to accept that reality and make the actual hard choices a CEO should make or just wear horse blinders and claim everything is fine.
The new CEO falls short in every aspect of leadership, and the organization is only a shadow of what it once was. At this point, all you can do is watch as it unravels... GK is already on a path to failure.
Already there, the once proud banking and we are open for business culture build by Richard Davis is long gone. The big boat is without a bridge, a sail, a rudder or a captain, in a regulatory environment where banks should thrive (again) too many bad decisions to come back from now