Why CEOs Should (Almost) Never Pick Their Replacement
Chief executives too often have a bias for preserving their legacy, rather than forging the right direction for the future
https://www.wsj.com/articles/why-ceos-should-almost-never-pick-their-replacement-11551063720
I dont really have a "dog" in this fight. As a former employee who is with the competition, I should wish for ATT's demise. I dont. I feel sad that a great brand is being destroyed by poor management. I should rejoice that my current company can and will use ATT's weakness to take its customers and believe me we will do so. I am not in wireless, however some of the solutions I will be showing my customers may involve wireless. Im excited about it as the culture over here is WAY better. Sure there are job cuts here, its everywhere, but I have not yet run into anyone who is fearful like I did when I was at ATT. I loved what I did when I was there but honestly I screwed up by getting mentally lazy. I did not try to learn new things like Cyber Security and paid for it by being let go. One of the best things that happened to me as it shook up my complacency and forced me to learn new things. While I was unemployed I read up on SD-WAN and had to do a presentation about it to some sales folks and sales engineers, I guess they liked it as the company offered me the job right after. I dont know yet if things will work out for me here, but what it has done for me is to shake me out of my mental laziness. I will have to learn newer things like cyber security, SD-WAN, virtualization. That alone is worth the change. All the best to the employees who are still there, it will continue to be bumpy over at ATT for the foreseeable future.
Don’t bet on it. Randall, Stankey, c-suite and BOD will continue to bleed the company dry to line their pockets!!
Our board of directors as close as it gets to a sh– show
They're supposed to be there to act almost like a governor of our engine, if it's running out of control to at least slow it down, Ideally they're supposed to monitor, advise, provide contacts to the company, and help it grow. But at the very least, they're supposed to keep it from blowing up.
Unfortunately, they are a narrow group who come from the same backgrounds as Stinki, in part because of bad leadership in the boardroom. They had folks who either weren't paying, who were deliberately selected because they were unqualified to do this job,
And here we have the results!
When Ed Whitacre retired he took 160 million with him out of the pension fund as well as lifetime medical coverage. Randall robbed att also.
I got news for ya. Ed Whitacre CEO retired in 2007, hand picked Randall Stephenson to suceed him. Zane Barnes CEO, picked Ed Whitacre to suceed him as CEO. Seems to be a tradition, the Board of Directors(Well Compensated) rubber stamp it.