With annual meeting of the members coming up… it’s only fitting to replace the current CEO.
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The best thing about getting a new CEO is management review. One of the first things to be scrutinized is profit margins, mid-to-senior management and interaction with employees. Trust me, employees will not be the first to go. Just watch as mid and upper management begin to leave abruptly before a new CEO signs on. Hopefully USAA brings in someone from the outside with military experience, a strong compliance background and a great track record.
I just hope everyone gives our new CEO some grace. It is going to take them some time to undo some of the changes that were made due to obligations and contracts signed. S/He will still have to make unpopular decisions because of current and prior leadership decisions. Again, it is going to take time so when the new CEO named, let’s all agree to be kind and patient.
It is absolutely to save face, him saying "this was 3-5 year thing" having sat in meetings where he had the "over my dead body" mentality of giving up CEO. He worked his way up and really had no intention of leaving it. IF it was really was limited obligation a) he would've told us all along what he planned to do during this stint and b) someone would have been prepared to succeed him; having no one at the ready is a 🚩 He's the Disaster Girl meme all the way; light it up and watch it burn.
In the light of Joe's passing, the desperate pleading for a "people's CEO" could not be ignored. Will everything be sunshine and rainbows now? No, but hopefully it's going to be a change in a better direction.
Bring back Jim Syring!
What a complete narcissist to spend so much time telling us his future plans, as if anyone gives a flying flip what he does next. This is surely the reaction of someone who has been let go by the Board, appealing to the employees that he will be ok. And stop treating yourself and your wife like you are Bill and Melinda Gates, willfully separating to do philanthropy. Board of Directors, if you do not have a new CEO inside of 12 weeks you are not doing your job.
I spent time with an ex-CEO of a company who was in his late 60s - early 70s when he was flying to Mexico and Europe at consultant rates. For them, "retire" is not in their vocabulary. They crave the attention and thrive on the role of "power broker".
Suddenly the RTO thing made sense. That office is his baby as he worked in Corp Real Estate. He wanted people to appreciate his office genius and couldn't stand that everyone preferred to work from home. More amazing is that they didn't have a successor lined up. This leads me to believe he is getting forced out as you never pull the goalie without having your 6th man ready to go.
He is tearful because now he knows he will have to postpone all that expensive Italian marble and crystal he had planned for his mansion. And his wife just told him, "I don't want you hanging around the mansion! Get another job! I want my marble!"
Not news to me. I’m a minion and heard a couple of months ago that he was retiring at the end of the year. He is 65 and you’re wondering why he’s retiring?
Any faith that the Board will hire someone with more flexibility regarding RTO?
Was Wayne pushed out because of the ARC? I thought all of the executives that
Left over the past 12 months were pushed out by Wayne, so did that influence being pushed out by the Board?
With how awful a CEO he’s been, curious to know what pushed the Board to finally kick him out
If I were retiring in my own terms and announcing it publicly, I will look like the happiest person on earth. He didn't look happy and very emotional at times, looking like it was against his will. He should not have called a snap town hall until he has collected himself. He must have been fired by the board.
Peacuck can rot in he-l, looks like he outlived his usefulness and the board wants another garbage CEO to rise to the top of the top of a dying company.
Wayne Peacock abruptly retiring to spend more time with family. This is pretty par for the current course at USAA. No warning, no genuine reason given, no plan, no honesty about what's really going on...this awkwardness of employees being stuck in the Lurch is really demoralizing.
I can't afford to buy a home insurance from USAA, an an employee, I'd appreciate if Wayne can leave a legacy of almost free insurance for employees, a generous benefit
It’s ‘impordent’ he’s replaced immediately.
Gross! Crater the company then go sailing and golfing after your huge payout.
Board does not make business calls related to RTO. That was 100% Wayne's call and numerous ppl on the c suite opposed it and were told to shut up and fall in line.
What happens if current board members don’t earn enough votes to stay in?
RTO was a board decision, a new CEO will not change that.
It’s fitting that he’s crying, but it’s not because USAA has declined in every way during his leadership.
That's the next big question....will it be meet the new boss, same as the old boss?
Why is he tearful and emotional
A nine month slow walk to retirement? Board, step in and enact the succession plan immediately!
Good riddance p-cuck
Wonder if the retirement will change the RTO…
He is retiring. Thank God. Get him outta here.
Yes!!! Done!!!!
2mins to before it starts.
He’s either deciding to spend more time with his family (fired) or it some way to improve morale.
Maybe selling the bank! Wayne ain’t done yet!
We're being bought by another insurance company?
He has to be leaving. What else could it be that would be announced so broadly? If it was CoSa specific I think those GM’s would announce it to their teams first.
I'm watching all the bootlicking EMG minions walk to the auditorium r n. They need to glorify their false savior before he's shown the door.
We're bringing back Joe Robles
I got the invite for the surprise Townhall as well. This should be fascinating. We can only hope it’s good news.
Surprise layoff announcement?
Tom, it’s why they brought in the former CEO of AAA.
I would love Randy to step in, his empathy, emotional intelligence coupled with his expensive P&C background would make him an excellent leader.
If not him, Jim Syring.
Surprise CEO town hall just popped up.
I thought the same thing...
Is it FINALLY happening?!?!?!?!
But seriously, I have zero expectation that a replacement will do much to right the ship.
Meet the new boss, same as the old boss.
Tom or Bob.