Thread regarding McAfee layoffs

From cool company to mobster led clan

Chris Young took on the challenge to turn a tiny Intel business unit into a cool cyber security company that employees loved, were proud of and were happy to work for.
That worked out as the company was governed by technocrats, who understood technology and were able to balance technology and business. Fair to say that this balance didn’t generate tripple rate growth or gazillions of annual dollars but it was solid in all areas.
Since the new regime took over, the company is run like a mafia clan - godfather on top with a team of capos and mobsters supporting him. Look how incestuous the new management is! Everybody worked with everybody in the past - no-one really in cyber security. Peter and the clan were brought in to disrupt and destroy in order to turn the company into a cash cow by lowering tue base-line, as the top-line didn’t grow aggressive enough. The top-line growth still is the same but as the bottom-line is lower the company is more profitable, thus increased valuation.
Btw. Peter Leave got 484,496 shares end of last year as thanks to negatively impact the lives of hundreds. Also read the other SEC filings on who got how many - you’ll be baffled.
Thoma Bravo has about 70% share-based voting power btw - if I read the filings correctly - and is the majority owner of what’s publicly traded.

The exec team turns the beauty in a pig and then tries to put lipstick on it.

by
| 2385 views | | 6 replies (last )
Post ID: @OP+19v0xDyF

6 replies (most recent on top)

It certainly was a "good old boys club". No one in management knew much about actual cybersecurity technology development - they hired very smart people to do this for them. The problem is that those experts were in high demand across the industry, and left McAfee after Intel failed to invest in the R&D. Remember, Intel bought McAfee (a Renee James pet project) with the goal of marrying hardware to cybersecurity software. Anyone who knows about chip design would recognize that this was impossible to achieve. After realizing this, the focus shifted away from McAfee and back to core business. Yet Intel made things even worse when it tried to integrate two entirely different cultures by moving McAfee people into Intel management structures and rebranding as Intel Security - then almost immediately unwinding the integration.

by
|
Post ID: @Gtkt+19v0xDyF

Your comment about a mafia clan made me think of my experience. I was a PM in the DoD Professional Services for three years and I found that that the PM team in that organization was a good old boys club. If you're not in it, you're a social outsider and your chances for career growth are very limited. I'm very happy I got out when I did.

by
|
Post ID: @aahk+19v0xDyF

Not sure where you're getting your 70% figure, but it's way off. There are 157.3 million shares of common stock; TPG is still king at 66.58 million shares. TB holds 18.8 million shares. Intel is third at 5.7 million shares (they're getting very close to finally unloading this steaming pile they paid so dearly for a decade ago).

So whatever orifice you're pulling a figure of 70% interest, it isn't from the SEC. I firmly agree with everything else you said, btw.

by
|
Post ID: @5uyo+19v0xDyF

Makes you wonder. Is Leav really worth the $10-million dollars in stock, in addition to his salary and existing options, they threw at him, just to have his team of axe men fire a thousand people and move 1/3 of the vacancies to India for $0.25 on the dollar.?

Apparently so. He's still there, The jobs aren't, The people aren't, but he is.

This company is so unbelievably fk'd

by
|
Post ID: @5ehl+19v0xDyF

"Look how incestuous the new management is! Everybody worked with everybody in the past - no-one really in cyber security."

Once more for the folks in the back.

by
|
Post ID: @1eoe+19v0xDyF

Bunch of money hungry gangster!!!!

by
|
Post ID: @1ifh+19v0xDyF

Post a reply

: