It’s never a problem with peeps doing the hard work. It’s always mgmt. Failing in this industry is really an achievement. If we’ve had an upper mgmt with vision, capable to develop a plan and invest in improvements/upgrades where needed, competent enough to recognize good hires, this company would have a good future. I feel like I am going down with a sinking ship with the state of affairs as they are now.
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A few corrections: This company would have continued to be great with different management not following the GE playbook. Unfortunately this Titanic of a company hit that iceberg and there is no bringing it back now. Lost is the culture, talent and R&D momentum. Soon to be a sad mention in a Wikipedia article. Geoff will be laughing all the way to the bank.
An example in surgical. Saw a program go from v&v testing scheduled to begin in 6 months get bumped to 2 years, then further, then launch date +5 years from scheduled, then reorg with CO folks taking charge. F*ing chickens w/ heads cut off running the coop.
The GE management method is out of date which focuses on growth over sustainability and fails to deliver products and services to benefit patients and fulfil unmet market needs, keep up with competition in technology, and recognize the importance of employee loyalty. New leaders are in urgent need to develop products and service to meet both current and future customer needs, to reinvent traditional business and operating models by integrating intelligence, delivering services beyond the device, and investing in enabling and new technology, to engage in vertical integration, to play a larger role in the value chain and get closer to customers, patients and consumers, and most importantly to truly value their employees.
Sadly there were a lot of great leaders, VP level leaders, who have left for leadership roles in better companies, or who were pushed out because they would not fall in line like the "FOG" crowd - Friends of Geoff. Replaced by carpetbagging execs from other industries with "fresh ideas". Worked out great, I see.
100% agree.
Not just the GE acolytes, sprinkle in a healthy dose of social justice warriors and DEI departments to truly make this a complete pile of dog tu-d.
Stock is down -2% YoY but S&P500 is up 25%, GE leaders destroyed this company for the shareholders
So when are you leaving? Or are you going to hang around and collect your severance first?