I’m not being sarcastic. From what I understand he has never built anything. Is not an execution person, is not financially astute, doesn’t have any real values, has poor taste in people. Can we list out his real achievements over the years ?
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He named one of the most successful programs after him: Moose-ley.
Dave invented the HDD
Unlimited vacation time
Cut bonuses to pay dividends
Dave ki-led all hopes for Seagate this week. What a shame.
How can forget his gretest achievements- sells HDD illegal doing deal with Huawei.
Activist shareholders are usually not the largest shareholder (from my experience.) But any shareholder with substantial holdings can certainly stir the pot by threatening to pool other shareholders who agree with their strategy.
Vanguard is the largest SH in both STX & INTC but guess who of those companies cut the dividend to invest & save the company?
Guys, you seem to think Dave is the one in charge. It became obvious years back that he ceded control over to an activist shareholder who is obviously keeping the dividend high and making the company keep buying stock back with cash (and running up debt). I guess one could argue the company found themselves in this situation under Dave's watch.
Dave is the first Seagate CEO to build a cafeteria in Fremont.
Dave single handedly ‘reduced’ the company from $12B to under $7B in annual revenue in a single quarter. This is the worst performing CEO and board this company has ever seen.
Dave negotiated a peace treaty between heads and media.
Dave invented the datasphere.
The redeployment fanfare could be his most remarkable achievement. It was an excellent idea but poorly executed, exploited by a few close to the top then cascaded down to benefit cronies only.
Lyve was a the name of a company STX acquired
Dave came up with the name "Lyve".
He serves as a waterboy on F1 racing teams.
list of achievements:
end of the list
Has he been personally responsible for coming up with a successful product strategy or roadmap ever in his life ?
Tons of achievements.
Commercial real estate guru- Concocted scheme to sell all buildings for cash.
DEI champion - Increase ratio of non-value to value add employees to please woke crowd.
TTM guru -Get products to customers before meeting established quality metrics.
Financial engineer -Max out debt as a takeover poison pill. Send all cash to dividends to pay self.
Capital Manager -Spend minimal capital to make any progress and success a miracle.
Salary management -Skew compensation plan heavily to the top. Motivate with fear.
Motivation guru -Motivate with constant threat of layoffs and blame employees for failures.
Team building -Pretend that we are fighting WD as our sworn enemy for the HDD championship and winning over WD is the most important gauge of success.
HAMR champion -Spend 4 billion over 10 years. Claim it will be released every year to maximize share price.
Selling STX buildings all over the places in a different countries, sounds quite a significant achievement!
He’s a people person.
Gives dividends