With epic level of incompetence from our management team headed by Chuck, Kelly and Fran. History will not be kind.
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I disagree. The finance decisions are all down to her, including all opex impacts and layoffs. Including disregarding the employee stress through such strategies. The financial strategy is a huge one, and that was all down to her. There could have been other strategies around that, including actual realignment (training, redeploying people in other roles etc.), official performance based Staffing strategy, making VPs actually accountable for what they do (or don’t) achieve. Yet none of those are finance strategies, most of them are largely HR ones. So perhaps KK let herself be FK’s scapegoat.
No respect for me for that fact.
As I said, the role of the CFO is to make every dollar look and feel like $2. It is to make sure the books look good. And many times it is to pacify/bolster wall street's interest. She's done an marvelous job at all of that. You're comments around training, staffing, re-alignment, etc, are not a CFO's responsibility.
The employee morale, strategic direction, innovation, etc. This is all ultimately CR's responsibility. Now that Kelly is retiring, you should be very VERY afraid of how CR will run this place into the ground.
I disagree. The finance decisions are all down to her, including all opex impacts and layoffs. Including disregarding the employee stress through such strategies. The financial strategy is a huge one, and that was all down to her. There could have been other strategies around that, including actual realignment (training, redeploying people in other roles etc.), official performance based Staffing strategy, making VPs actually accountable for what they do (or don’t) achieve. Yet none of those are finance strategies, most of them are largely HR ones. So perhaps KK let herself be FK’s scapegoat.
No respect for me for that fact.
I wouldn't lump Kelly in with those other bozos. She kept the street pacified for her entire tenure here. Sure, we've all felt the blade of the bean counters at some point in our respective teams, but what she really did was make CR's incredible incompetence seem like good management to wall street. It's not Kelly's job to figure out how Cisco can be once again be innovative, or what our technical or competitive strategy should be. It's her job to make every dollar coming in look and feel like $2. And she's done a remarkable job with that. As a shareholder, I appreciate that. But the spin machine is winding down. And she's off to enjoy her well-earned money. The 4 thieves (CR, GE, MM, FK) remain in place, continuing to bilk the piggy bank.
Kelly is way under qualified.
Well, now she has 4 years experience and $50m.
$37B in buybacks and we still have to chop heads. ELT owns this.
You could throw a dart at someone In finance and get 90% of the same strategy for 1/40th the cost. Buying back stock is not a 20+ million dollar idea. Anyone coming outta undergrad understands the concept and can apply it if need be
OP just figured that out? It's been years that it's been an issue.
I wish I had $11M in my Piggy Bank.
In a company the "has" to lay off people who are struggling and some who will become homeless, no one should be making 11 mil a year. While they have us distracted with diversity and BLM and all the other games, the real bad guys/girls are taking advantage of the system to become very wealthy. We are fools to play their game.
@1tsm+16K8oxEV I'll agree with you about V2M but I'm not sure that AS was ever admired.
$11 Million:
At 52 weeks per Y, is $211,538 a week.
At 40 hours a week, is $5,288 per hour.
Dang
DUHversity
at $11M per year. Maria M is the worst decision this company has made to date..
they are normal big corporate executives during normal years like 2008, not enough for the coming 1930 level crisis.
No Kelly is great at her job - s—ing cash out of the stock.