Why would he leave a $20M + a year salary for a government job?
You think he will implement BYOD? (bring your own device)
That's crazy
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I’m sure in Franks, selfish little limited thinking mind had already fashioning himself as a potential presidential candidate in the near future. What a joke. Let’s watch him swim with the governmental water of bureaucracy. I hope they chum the water and eat him up.
He will write a book that I hope nobody buys.
Why did he take $20M and fire so many is a better question.
He knows he’s exhausted every lever to artificially pump the stock and it’s about to unravel in 2025. Best for him to leave before so he can say look what happens when I leave a company. Also, will likely get the opportunity to vest / sell his shares early for public service so he doesn’t have to ride the stock crash. Despite the massive pay cut, being able to get out of the stock before it crashes is more important to his long-term wealth then either salary.
He thinks it will bring him power, not realizing that the head of SSA is so low on the list of power people in DC.
It would take a long time for Frank to sell off all of his shares without significantly impacting the share price.
But if he accepts a government position he can convince the board (that he controls) to buy his shares, all at once. This turns all of his stock into cash at the expense of every other shareholder.
He can cash out now before his failures are known and head into retirement.
He is an egomaniac. He is on a power trip
Time will tell if he will be required to rescind his position as Chairman of the Board. It's a conflict of interest if he's allowed to retain that position in the private sector while working a government position.
He’s not doing it for the money. It’s an ego thing for him.