MR ......... No growth, No positive culture, No pay increases, No valuing employees, No hitting quarterly forecasts, No speaking to employees, No leadership, No Strategy.
He clearly gave up around 2 years ago, when he Stopped doing Townhalls.
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Despite all the usual bs from “leaders” ho ho ho, today we all know that they will make many layoffs. They are saying the disastrous offering led model that no one understands will stay. Reality is a new CEO will be announced before end of March. He/she will then cut the thing up and blame Mikey S for having to take action. No merits for anyone except L2’s, death spiral DXC rolls on.
At least he is gone, but who knows what comes next. Lucky I sold my shares some years ago at about $100. And made redundant 2.5 years ago, still living on the redundancy money. No plans to work again for anything serious.
So another interim CEO and a team that "won't miss a beat during the transition" - seems to translate as "more of the same" then.
MS seemed to start out ok but lost steam after 2 years as we heard the same rhetoric during town halls and quarterly analyst briefings. Clearly communication has dried up completely since then.
Amazing how many assets have now gone (healthcare software, facilities etc) and despite share buybacks the price just continues in a gradual decline. DXC has been hollowed out. There has been no dividend paid for several years and it's hard to comprehend the over-used phrase of "adding shareholder value" 'cos there isn't any!
Exec remuneration treatment is the only consistent process (with over 80% of the annual shareholder proxy statement dedicated to justifying it - and it gets a non-binding vote too!).
Oh of course lack of employee increases and any performance bonus is the other constant that could be relied on. Both of these began in 2013 with Mikey #1 of course when all the fun began to be su-ked out of the company.
I eventually waited for a VR opportunity and retired - at least that way I left with something in my pocket.
The few shares I now own have lost 40% of their value - so holding out for another buy-out / takeover to come along..... wishful thinking maybe?
@qhm+1qaagh2i I agree with you but the huge 10s of millions of dollars he gets in severance hurt more. 50 million for sweet FA
Hmmmm “effective immediately”, wonder if “His Mary” will be next?
...after a successful four-year tenure. That one hurts to read.
What do you expect from new CEO, money ?increases ? Lol wake up fella this company is shrinking they cannot give $ out without stopping revenue drop. So here we go new more radical fella will try deliver with same broken ship.
To be un/fair is the next / Interim CEO any better ?