How long has her turn around plan been in place? What are the Board of Directors and shareholders waiting on for her to retire with a golden parachute?
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They should immediately deactivate Ginni's network access, building badge, and system accounts and company credit cards and fire her by phone. And escort her out of the building if she isn't working remotely.
They cant fire her, she's a woman - Just look at how companies like Yahoo allowed Marissa Mayer to tank yahoo, IBM is doing the same.
Actually, the move of Martin Schroeter out of the CFO job may not be the real harbinger that results tomorrow will be bad. As someone else said, she moved him to the position she formerly held, likely to set him up as the next CEO (Lord help IBM in that case). She may have wanted to do that now because things will be so bad tomorrow that she'll actually step down, and at least wanted to set Schroeter up prior to that as a thanks for cooking the books and handling the quarterly calls so she wouldn't have to, like a real big grown-up CEO?
Wishful thinking perhaps. The results really should be good, with the new mainframe boost, but who knows. Everyone will in about 24 hours from when I write this.
Right Ginni should be fired immediately without delay and by phone. Otherwise, the nightmare won't end and bring in a brand new CEO.
Someone has to decide that the end has arrived. The company can't continue to sit and wait, bleeding to death and hoping that the bleeding will stop on its own. Just look at the history. Ginni had 5 imperatives (the SCAMS strategy) and the future depended on them all succeeding spectacularly. Most have failed, or at least succeeded to a much smaller degree than necessary. We're down from five imperatives to just one - Watson. All of IBM's eggs are in one basket, and between colocation and layoffs IBM is treating the basket like a pinata. How can that NOT sound like the end?
In my opinion, very likely Ginni had provided feedback to the prior CEO on the strategy and was doubling down on her own feedback and thought she would just follow through until the end.
I hate to say it, but the board has been asleep at the wheel for the past 10 quarters at least. Ginni when she inherited the CEO job, also inherited Sam’s vision. With that said, she had a year “get out of jail free card” to change that vision. Instead she doubled down, and everyone (the board, Warren, All of the pension funds, and the entire management chain went along for the ride). At the 3 year mark (1 year get out of jail, and two years of performance promises), the board should have stepped in. Instead they buried their heads, and continued to ignore the changing landscape. When Warren dumped his stock in 2nd and 3rd Q of 2017 that should have been a BIG wake up call. The worlds largest investor essentially nicely said “Your recover plan stinks” and remember he did this without a tax advantage. My guess is he dumped even more in 4th due to the tax advantage. So where does that leave IBM. I believe the mainframe will give IBM a little breathing room for the next 2-3 quarters, and certainly the tax plan should help, BUT until we get a management team that understands the changing Dynamix of Cloud, AI, cognitive, HPC, and “innovation” we will just get more “ME TOO” follow the leader type of HPE style of management. Does anyone and I mean anyone see a strategy that moves IBM and it’s 80 billion into the 2018 environment and away from “saving our way to success”. IF SO, kindly notify the board as Warren can’t or doesn’t want to do it anymore. He got tired of excuses and so should the board.
Because Ginny and the board keep throwing piles of money at each other. It's all working out quite well for them. Look who's on the board - more of the same.