Thread regarding NetApp layoffs

When the CFO departs

It means one of two things.

Either he's a fall guy for Kommander Kurian and his Lost Planet Cloud Men.

or

He can no longer put lipstick on a pig and justify buyback after buyback after buyback.

4 billion plus down the drain and declining revenues for this many quarters in a row pretty much spells it out.

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Post ID: @OP+13tDTPUy

5 replies (most recent on top)

The team GK brought in for the consultant led transformation were there to make money from stock price increase after cuts to staff, reduced sales/product costs and shift to HCI and Cloud business models. Since the HCI strategy failed and the cloud team is missing consistently, there is no easy money upside for the carpetbagers, so they are leaving. The leadership team GK built was IBM, HP/CPQ, Dell, Sun and Oracle based. NetApp needed/needs leaders that have succesfully navigated change, still a few to go, but good riddance.

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Post ID: @hdwy+13tDTPUy

Pfft I’d retire at 60 after pulling 5m from this place, too.

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Post ID: @ccxr+13tDTPUy

Let's see, he was at Netapp 5 years and made about $5.5M . Not a bad gig, I think he can retire comfortably on that.

https://www1.salary.com/Ronald-J-Pasek-Salary-Bonus-Stock-Options-for-NETAPP-INC.html

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Post ID: @1udp+13tDTPUy

Under normal circumstances I would agree with the above. However there has been a pattern of executive leadership departing over the last few months

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Post ID: @1zrd+13tDTPUy

Or he is pushing 60 and retiring with his multiple millions of dollars in his bank account to enjoy life without cry baby employees

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Post ID: @1ipi+13tDTPUy

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