Let s make the hypothesis that the new management is not stupid. A lot of things they say are simple common sense... If you seat on their side.
This leads to imagine that the understanding is wrong on many sides.
New owners missed all the important information if they want to keep Verifone with products and customers. But do they?????
If the idea is to cut the company into pieces because they have 1.6 billion USD to repay then this is different.
Mike P is a turn over guy for sure. He believes he is now in a business where people want his hardware in comparison to where he comes from. This is not that true, payment acceptance on Mobile phones off the shelf is already in the pipeline of standards. And Verifone has no plan on this subject so far. Suggesting that customers will have to pay a monthly fee for customers to run their code on the terminal is the best demonstration of a total lack of understanding and utmost arrogance of the business.
It was amazing to listen to the call post lay off (email forward still active after HR meeting), he wants Verifone China to build cheap device and ignores that this approach failed (badly) twice in the recent years. Even if he makes it, this is not like Ingenico and Fujian Landi as the team in China does not even master HW design. Arthur can claim what he wants outside of China nobody wants to touch a terminal that he purchased from a third party. The zero list of all his successes in 4 years is the best proof...
Regarding the data and info FP and exe team received internally, the brown nosers who have provided input to this exe team are the dead wood and got others to create slides for them to show off. So far FP has been listening to a lot of BS.
The new CEO wants modularity but does not understand that devices have to pass certain tests and certifications that will not support such an approach. He wants to reduce a development cycle that is already short and did not integrate the certification process on the side of the customers...
He wants the 80,15,5% model which is an improvement to the unique impossible app required by his reports not that long ago...
Mike s request makes sense but does not realize that the 80% comes from a Motorola team in Chicago that has never produced a single payment terminal and do not understand schemes as they are brand new to the business...being hired by co-optation because Motorola laid off does not provide any form of evidence of matching for the job. He loved them when he visited them to make his direct report shine. The same people who were going to deliver fast and teach every one and who have a score card of zero two years later!!!At least he broke the vision of his EVP of engineering and explained that a minimum number of apps should be used. No competitor made even 1 million dollar in apps and analysis shows that 8 apps did 92% of (little) money for competitors. He wants to use devices to support modular code but does not realize that Verifone legacy software in which customers have invested a lot of money can not be supported by lack of space or other abilities. Modular approach is nice but devices are known and used by customers for multiple reasons and they want few things to remain. Modular should make things better but it will failed as he is the 5th one to take this approach.
Some other claim like developing the connection ability makes sense but not after killing the team in charge of estate management. Even with a new solution from a partner, there are hundred thousand terminals to support. Now not possible as of Wednesday...
After this round of firing squad numerous vital and absolutely critical people with key knowledge are gone and will not come back...Does Mike care? Most likely no as the team that brings 80% of revenue has been axed more than one year ago and before he joined Verifone. FP's result will be simple, sharing code with China team will simply enable the competition as we have seen in the past. Good news code leaks in less than 48H max...
So now due to last week,cCustomers will face some serious support issue and Verifone some contractual obligations.
To all those remained, good luck, you will need it!!!
BTW did you notice that each email from Mike or his guys have different URL s for video replay or survey links to track employees and determine who is watching video or to make feedback not that anonymous.... So good luck to you!!!