As many reiterate Dan was on the board for a number of years before being put in control. The question is why now? Who was responsible for holding him back or was it several on the board? Who has recently departed the board? Maybe those or that individual? Overall it is a shame it took so long as can be seen by his quick actions once CEO. Will Dan take out whoever else kept him back?
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OP, I guess you have the answer now and it does make sense. DEIbis to blame and the name and face attached is Clarence's. After that Dan became the Man.
Clarence huh. That explains it.
@dm Clarence = DEI
Clarence Otis was the lead director until last year when Dan took that spot, and seemed a defender of Hans. He is stepping down from the board soon. Coincidence?
Dan jumped from a $200k board salary to a $20M CEO salary. I thought pay policy limits raises to 10%? LOL
It was definitely because of Trump. The board was skating on thin ice with the records leak they allowed as well as yes the DEI infiltration since Hans came on board. They do not want to be on this guy's radar so by changing it up with Dan they can show they are with the "program"
Undoubtedly it is Trump's fault.
He has made it worse for all workers.
DEI is political noise. The only thing that matters is TSR.
Why Dan, no brainer. $51 stock price.
What two large investors? It seems DEI going passe more likely.
One or two large investors probably said 'enough'. Maybe gave them a line in the sand price target.
It was DEI beliefs that kept out Tiger. Until Trump crushed DEI the board was playing that card allowing Hans to beat the DEI drum all day and night, no matter how damaging it was to us with all the unqualified dragging us down the toilet. There was no way the board would allow a normal American "white" guy lead under those conditions, even to our detriment. Trump enabled Tiger's rise to power. He would not have come to be CEO otherwise. Now we can rise to operate at a professional level once again.
@a4 The key question is would Dan or the board or HR permit the hiring of 69 year old for any othet position?
DEI was holding him back.
A3. Yes, his layoffs were a quick action. The others over the last several years were only a slow drip before his flood. The board seemed somewhat squeamish in years past. That is why it got bad with so many employees who added no value to the bottom line. It seems the board has finally given him his due.
@a4 fair question, but not really what the post is asking. Why now after holding back for so long? He was present for quite awhile. Why now finally let him loose?
Most people retire because they are not able to work with the same energy as they did before. Not sure what changed for Dan to get back from retirement. That should be the query to ask.
His quick actions once CEO.. what actions? Layoffs.. yes, but those have been ongoing for years. Have you heard of actual real changes?
Simple... foloowing the timing of Verizon artic frost privacy ruling in Sept..Vz Board 24 hour firing if CEO Vestberg Oct and aporoval of Frontier in January.
Vz Board failed on many levels and needed a stop gap.