What happened to our CEO
15 replies (most recent on top)
Insecurely Convoluted and Arrogant
they're not good at anything except to ma-------e, ur----e, and de-----e
partners are starting to complain seriously about sales bahaviour in theater
What is wrong with renewals?
I have lost so much money on your stock. Thanks team.
If the board has been accused of failing to meet their responsibilities to monitor for securities fraud why aren't they fired too?
The only remove to remove cancer is to cut it out or burn it out.
It doesn't go far enough. The interim CEO Graham Smith is also the Chairman of the Board of Directors. He was also accused and sued for insider trading and dereliction of duties for not uncovering securities fraud. HE MUST BE FIRED TOO.
oh god please get rid of the renewal ops management. Toxic. Toxic. Broken. Toxic.
The only way to effect change is to take out all their leaders. It's the same concept whether if it's a street gang, prison gang or corporate gang. Take'em out.
Complete list of ills all over the company:
Dereliction of duties
As stated before on this board. Splunk will be sold to private equity as Silver Lake already put in a 1 billion dollar investment. Or if they are lucky be sold to a legacy tech giant like Cisco or Oracle.
LOL why was Doug fired?
Lying to Splunk customers for years about being "cloud" based
Covering up harassment
Nepotism to the highest degree
Splunk was so cancerous from the top down. Hopefully this will improve the company.
CEO got the entire board of directors sued for insider trading and dereliction of duties. See other posts on this board. He and CFO needed to he fired. CfO is next and he can take the CAO with him, the latter Tim Emanuelson is a known harasser of employees.
Got his bu-t fired after years of not delivering. Cloud is a mess and should never have been pursued.
Shares of data-analytics software maker Splunk fell 18% after the company said CEO Doug Merritt was stepping down and Graham Smith, its board chair, was taking over as interim CEO, effective immediately. Splunk is looking for a new permanent chief.
The stock move was the third worst on record for Splunk and the sharpest decline since December.
The leadership change creates more uncertainty for a company working to become viewed more like a cloud company than a seller of more traditional on-premises software.
Merritt joined Splunk as a senior vice president in 2014 after stints at Cisco, PeopleSoft and SAP, and in 2015 he replaced Godfrey Sullivan as Splunk's CEO, who had taken the company public in 2012. Smith is a former chief financial officer of Salesforce who joined Splunk's board in 2011.
The CEO transition is "an additional concern" the company is dealing with, on top of risks such as increasing competition from public cloud providers, entry into the observability market and the ongoing business model evolution, KeyBanc analysts led by Michael Turits, who have the equivalent of a hold rating on Splunk stock, wrote in a note distributed to clients.
During Merritt's tenure Splunk has been shifting more toward providing its software as a cloud service, which has impacted revenue and operating margins. Other enterprise software companies, such as Adobe, Autodesk and Microsoft have gone through similar adjustments. Splunk reported $605.7 million in quarterly revenue in August, up 23% year over year, while cloud revenue, at $217.4 million, was up 73%.
Splunk stock has risen about 120% since Merritt became CEO, compared with 125% growth in the S&P 500 index over the same period.
The coronavirus pandemic hurt Splunk, along with enterprise software providers such as IBM. The company had trouble collecting receivables, and customers hesitated to commit to larger deals and asked for payment concessions.
In September Okta hired away Susan St. Leger, Splunk's president of worldwide field operations.