How on earth does the CEO keep his job when he delivers this :
a catastrophic decline is stock price,
dividend cut to nothing,
declining revenues,
declining profit,
an acquisition of a loss making competitor,
staff morale at rock bottom, no pay rises for staff
and the only certainty is more redundancies.
How is this a ‘Re-invention’ ??????
Grifters!
Most of the board members are friends with the CEO or they would not have gotten a board seat, and no independent board member would ever gave accepted this level of incompetence and lack of results and continued to dole or CEO raises. If anyone does not believe this, how could they have kept JB on the board after he was practically forced out in disgrace? I was almost fired for missing my plan for one quarter, but the company can miss their plan routinely without any consequences?
Shareholders are mostly institutional, and they don't seem to care....
@a4 I see the self-serving Board take up their money, also the C-Suite and SLT - it’s just wrong that is allowed to carry on.
If this was a sports business ( Aston Martin F1 ), then Stroll would have fired the CEO and replaced the Board
I strongly encourage you to look at SEC filings. Each of the board members receive over a quarter million dollars a year to attend roughly FOUR meetings a year. All of these folks have other jobs at other companies OR are independently wealthy. It's not in their personal interest to care about what the business is doing if they keep on receiving a paycheck.
Although they do have a fiduciary responsibility to share holders. I cannot however see how that LEGAL RESPONSIBILITY TO ACT IN THE SHAREHOLDERS BEST INTEREST is performed by allowing senior leadership and C-suite executives to continue as they have been and keep them employed let alone give them multi-million dollar bonuses every year.
Since Steve B took over in june of 2022 the stock price is down 82% YET his total compensation packages are as follows
2022= $10M
2023= $14.8M
2024= $12.8M
2025=TBD
In 3.5 years in charge, he will be compensated to the tune of roughly $45,000,000. While the company will most likely be worth about 1/8th its original value when he stepped into his role