The strong rumour at the water cooler is Salvino is going, announcement as early as the end of Dec. Replacement being touted is Andrew Wilson - the recent hire currently running the Modern Workplace offer.
Is this wishful thinking (on Mikey going) or have others picked up on this?
What DXC needs is a new board as the once’s in place pit Mike in as chairman and CEO. They all need to go and be replaced by people in IT that know how to run a IT company
OP was bang on - knew the news 20 days in advance. What else you know bro? Spill it out.
well ...
@3pnv+1pUk24QW. as Chairmain he would still be running the company, just working less and getting paid more. DXC is still fu-ked
3tco+1pUk24QW I knew that already what I was trying to imply was that he would solely be chairman. Poor wording on my part.
: @3pnv+1pUk24QW. Mike is already CEO and chairman of the board. Don’t post on this site if you don’t know simple things like that about the company!
Its hard to see what is happening... but when Salvino joined DXC it was without much fanfare:
https://dxc.com/us/en/about-us/newsroom/press-releases/05232019B
That was May 2019, he became CEO in September 2019....but that was after Lawrie totally crashed the share price that month.
Whether his rise was planned or just was a panic thing its impossible to say.
Currently the share price is rising....I'm not so sure Salvino is on the rocks yet. Sadly.
A few observations from someone who's been out of DXC for a few years.
To those who're talking about Karma, or "Eat S**t, Mikey". There's no Karma in him walking away with a personal fortune that's probably into 9 figures. He doesn't care at this point - he can retire with more money in the bank than most folks would manage to see in several lifetimes. He's got there by destroying what was a reasonably good company; he's got there by treating employees badly; he's got there by taking DXC from >$16Bn to < $5BN market cap in a few short years.
If he goes at the end of this year: DXC isn't going to magically grow back to where it was before. Its reputation with clients and potential employees is ruined. It has no people to support delivery, 'cause Mikey got rid of them all. It has no meaningful IP. It acquired Virtual Clarity (which has great IP and people) and destroyed it. Anything good has been destroyed over the last few years.
Whoever takes over, the best you can hope for is gradual stabilization and maybe some small improvements over the next 5 years. Maybe. IMO, the reputational damage done is so great that there's no obvious way back. The lack of delivery capability, coupled with contracts that can never be profitable, means it would take even a truly great CEO several years to build this company back up. It'll be a miracle if DXC doesn't end up filing for Chapter 11 in the next five years.
FYI Andrew Wilson was just awarded over $1 Million in stock. You can see the filing with the SEC. This probably means that Mike is moving to chairman of the board rather than CEO. That's my guess, otherwise, how would this guy get Mike fired after only being at the company for a couple of months?
https://www.sec.gov/Archives/edgar/data/1688568/000168856823000119/xslF345X05/wk-form4_1700260669.xml
It’s clear he’s completely out of his depth. Share price has tanked and he’s complete dogsh!t. The town hall was a classic, I’m surprised it’s not on YouTube. This guy will walk away with $$$$$$ for fvcking everyone. Crazy!
Lol... If you haven't heard a good rumor by lunchtime it's time to make one up. Even if Shouty does get the axe, nothing will change for the people in the trenches.
Salvino is the chairman of the board he’s not going anywhere
Been at DXC x-x years. Saw the infamous Townhall. WFH full time. I find it staggering the lack of pay rises hasn’t made U.K. press frankly over the last two years. It’s amazing.
Salvino get's the kick. If it's true, I'm quite fine with it.
Does anyone believes it's getting better then?
I thought DXC was being run by "AI infused Platform X" these days - would certainly explain the (complete lack of) results ...
Given the total lack of communication from Shouty would anyone notice if he left?
Sounds possible, but I have not heard anything.