Although Wayne Peacock should not burden all of the blame he has not done a very good job navigating the waters. Under Wayne's watch USAA has seen AML/Risk & Compliance concerns coupled with large fines. Recently the OCC called out USAA Bank for failing to offer promised interest rate discounts on auto loans . USAA employees who were hired on as Permanent Work From Home employees are not being ordered into offices (if they reside within 60 miles of an office). Recently and article detailed the high salary increase awarded to CEO Wayne Peacock. Now, with the recent layoffs employees, members and others can only wonder how much longer USAA, its board, employees and members will allow Wayne Peacock to remain st the helm. Its time for leaders at the organization to stop making excuses. If employees are expected to perform so should the executives. If then cannot then its time to cut ties. Wayne must go
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I thought morale was in the toilet when Stuart was at the helm. But Wayne came in and obliterated whatever shred of morale was left standing after Stuart’s debacle as CEO. Any other CEO would’ve been canned 18 months ago. Carl Liebert left USAA to be CEO of AutoNation and was ousted after 133 days back in 2019.
IMO, Jim was a SMART man and was able to CLEARLY see the writing on the wall and the disfunction of the organization. He knew he wouldn't be able to fix it in the current environment so he literally jumped ship. But, I agree he would have been a great leader!
Agree with posts. If anyone performed as bad as Wayne they would be gone. He is wrapped up in corporate speak and playing the part instead of making common sense business decisions.
I agree about Jim Syring and have always wondered about the real story behind him leaving.
I completely agree, but how can we help make this happen? I don’t know what it takes to get the Board’s attention.
Syring would have been perfect for CEO