Don't dismiss why Jana Partners is taking a position.
- Speed - let's be honest, Fiserv has become a slow company from a client view.
- Growth - you can't cut your way to prosperity, growth requires prioritization, focus and execution. Sadly every thing at Fiserv is a priority therefore nothing is. Best example is Toast - unheard of five years ago, today completely pushed Clover out of restaurants.
- Too much expensive management who seems themselves as the center of the universe vs the inverter pyramid where the people who do the work are at the top of the pyramid.
- Arrogance - you can't treat investor, clients and employees the way you are and think all will be well.