Shall we place bets who is next to leave / is asked to leave in the C suite???
12 replies (most recent on top)
MJ needs to go. We need the likes of VM who was tough but had a soul.
Of course he got a bump in $$ to go quietly. Whatta c----up. Can anyone spot talent in this company? Seriously? People have been working in this soft, passive culture for so long that they have no idea what “good” is.
Its worse than you think. There is a special severance plan for the executive employees. 12 months salary plus 12 months of paid COBRA health care. Some even have a clause for accelerating RSUs in their severance agreements. Hopefully as PPA resigned he gets none of this, but who knows what deal RR may have made with him to go quietly.
So he got $250k Hiring Bonus. But will miss out on the 2nd half of the Signing bonus due at Year 1.
Also $600k salary. Or $275k for his 5.5 mo. residence.
The guy literally earned $525k for 6 months work. Actually when you consider his 100%(!) of Salary Yearly bonus. Unbelievable!
The contract does say if he "voluntarily terminates" employment in Year 1, he's subject to repayment that $275k bonus. But he was FIRED so does that translate?
And RR makes $10M?!
And they fire hard working people who ACTUALLY DO the work while all these Leaders fleece the company to the bone?
There are no words.
here are the numbers:
https://www.sec.gov/Archives/edgar/data/1043604/000104360418000076/jnpr-20180930ex101.htm
It's good they booted him now before he could exercise any of his 240,000 RSUs.
This is not a surprise to those who have worked at the same companies as him before. At one prior company, he got into several confrontations with the CFO for unethical expense reporting. I'm not surprised this happened at all. I was just waiting till RR figured it out. I'm sure the board is not happy because there wasn't an extensive background check on his record. These types of departures are always stressful for the CEO who made the mistake of hiring them in the first place. I'm positive, they got a tip from someone or a whistleblower on his past activities.
So I guess he won't get his first tranche of RSU's. Usually it would be 1 year. Maybe 6 months for Sr. Execs.
So all he got was his salary.
PPA was hired on Aug. 01, 2018 and fired on Saturday, Jan 19th
PPA is a disgraced looser
glad to see juniper moved quickly to move him out
c-suit door keep revolving
so glad to see PPA is out
RR has yet again lost tremendous credibility, the man does not know how to hire winners
MJ has zero experience running a world-wide sales organization and is the poster child of arrogance
RR needs to pack his bags and move on
If MJ is Marcus Jewel, then he is a loser. He drove Brocade in EMEA to a slow painful death and disintegration by constant layoffs. Know him VERY well and his work culture. The man is a bully, has no vision at all and a conceited a$$.
Good. I think MJ will be better. I’m sick of this soft, passive culture. I want intensity and culture if winning.