Marvin started to reshape the company.
4 C Suite positions eliminated (chief operating officer, chief customer officer, corporate administration executive and chief development officer) eliminated.
COO Maltsbarger gone immediately and CCO McDermott on a 4th month "transition."
Other position folded in to C and E suite positions as direct reports to Marvin.
Leave the clown show before it gets cancelled
"Maltsbarger needed to be shown the door along with Niblock. The stock price was languishing under their leadership. They recklessly went and bought Rona and Orchard, both which created huge losses for the company. Remember $70.00/share?"
Good observations, add in the near $50 Million in PSI losses.
Maltsbarger needed to be shown the door along with Niblock. The stock price was languishing under their leadership. They recklessly went and bought Rona and Orchard, both which created huge losses for the company. Remember $70.00/share?
As soon as he started, it was a daily “throw spaghetti at the wall” effort that still goes on to this day. Remember the time wasted on handwritten signs in OSLG? A sign of the mess and waste that has continued for these past years.
The fun part was when he fired Ri#%y Da $&@n…… who , it might be remembered , fired his sibling.
Typical Marvin behavior. Shame it didn't save him at Home Depot. Or JC Penneys.
Yeah Melvin reshaped the company. A lot of tenure folks either quit or retired with all the nonsense.
I remember scuttlebutt being that Maltsbarger was seen as threat to Marvin, another Big Chair possibility.