There’s speculation surrounding Mike‘s future at Blackbaud as the stock price tanks.
It‘s very possible an announcement is made on his future Autumn 2026, with an eventual departure in 2027, until a replacement is found.
13 replies (most recent on top)
@1s2 I hope you mean by doing a good job means you're looking to abandon ship. If not you'll regret it. Fortunately, for me I got the he-l out of there in April.
You can't even count on your base salary. Any day you might get laid off. It's just a matter of time for most of us.
@32z can you help me understand what this means? In looking at the public filings Mike is sitting on a lot of stock. He has lost about $10-12M in stock value just this year. I don’t give two sh--s for him, he will be just fine, but how is he being rewarded? I am genuinely curious here. He likely wants to sell to pump the stock one last time and recoup some of that loss.
The only thing employees can count on anymore is their base salary. The stock isn’t coming back up and don’t think for one minute it isn’t intentional. Meanwhile Mike is being rewarded for it!
@309 bingo. Investors arent gonna buy software companies, especially dying ones
@2zb we aren’t being bought unless the stock collapses significantly further. This category is toxic to investors right now.
Unfortunately, even if they fire Mike G, it's unlikely to make any difference to us. We're just disposable cogs that cost them money. The current leadership will get paid while doing nothing bc they're all under contract.
The new leaders will blame the last group of leaders, and keep trying to cut costs to make themselves look good.
That's if private equity doesn't buy BB considering the low stock price. Private equity would likely be even worse than what we have now.
Boy did mike g look like absolute he-l in todays meeting.
I've been mostly ignoring the stock and negative news in general, just focusing on doing a good job...wow did our stock take a beating.
Mike owns more than half the board. If it’s their vote that sends him packing, it ain’t happening. There’s still $30 bucks a share for him to milk; only when he gets every last penny he can will he walk away. There’s a handful getting rich off of Blackbaud tanking - hint: it’s definitely not you or me
Cant believe they extended his contract one more year last december. Dude is protected and gonna walk away with a bunch of money.
Isn’t he on a two year contract anyway? Isn’t ‘27 his last year regardless? He is just there to sell the company, but given how sh---y it is and how tough this sector is, no one is buying. Any new CEO should be able to size this sinking ship almost immediately and not take this job since it’s based on mostly stock compensation.
Please be true, even if this is BS. He needs to go as well as the other ELT!!!! 😡😡😡😡