He is #1 at being the worst Fortune 500
CEOs of the century! Congrats boss!
4 replies (most recent on top)
If people didn’t agree with Fink, then they would switch funds and Fink would lose control. Fink is doing what a majority of his “shareholders” want as well. And it was always the job of the CEO to listen to shareholders. That’s literally what they elect him to do. That’s how every single company is. He’s even actually legally responsible to do so.
He can disagree with them and try and explain why they should have a different opinion, but at the end of the day if they plug their ears and say I don’t care do what I say, they are in charge not him. Again, he has plenty of faults. But recognize what is in his control and what isn’t.
The person below wrote “his job is to listen to shareholder feedback and make adjustments so if shareholders change their minds or the shareholders themselves change, then his job is to take their new interests and implement it in the company.”
Let me tell you something. It was never the job of our CEO to listen to shareholders. His job was to tell them and their job was to listen.
It is the failure of first Rex and now DW that weaken the company and the position of the CEO and now they have to listen to whatever Larry Fink says.
This response is obviously one of those sniveling sycophants who thinks they can get ahead by offering themselves body and soul to the great and powerful Oz. In the most recent shareholder vote, his excellency was only the number 7 vote getter - a bottom half of the rank list assessment (I’m sure a first for him). Not worthy of MLRP status, but the performance trend is definitely declining. Let’s see the performance at the forum next week.
Shareholders also elected to vote him in and vote in the previous board. I certainly don’t think he’s all that, but his job is to listen to shareholder feedback and make adjustments so if shareholders change their minds or the shareholders themselves change, then his job is to take their new interests and implement it in the company. If they elect a new board that’s not his fault. And while I don’t think many employees like him, keep in mind when you look at a site like Glassdoor you have some bias as these are both not confirmed to have actually been employees and also are more likely to have been those who quit or were fired, not as much the employees who happily retired or happily still work there.