Scharf has no qualms making the decisions which hurt other people, in order to gain personal power and financial success for himself. Customers and employees losing = Scharf winning.
Scharf bills himself as a Change Agent, and yet he is secretly spending billions of dollars of company cash to corporate consultants to create the change he will take credit for, although remarkably- there has yet to be any meaningful change which = Shareholders losing.
Scharf doesn’t waste the time or money to create a positive and productive work environment/culture because he knows he’s not in it for the long haul. And neither are many of us, unfortunately. Employees losing.
Scharf doesn’t say much, but he still manages to talk out of both sides of his mouth, depending on the picture he needs to paint to rationalize his self- serving behaviors. One day he is claiming the dire need for cost-cutting and streamlining to explain aggressive offshoring and mass layoffs. Next day, he recommends spending $30 Billion of company “excess cash” to manipulate the stock price higher in order to personally profit from his executive stock options.
He serves on the Board of Directors who’s primary responsibility is supposed to be independently supervising, evaluating and compensating the CEO and he gave himself an 18% raise. 🤷🏼♂️. The Board should be required to be transparent about what facts support that decision at the next shareholder meeting
And it takes a particularly disgraceful human being to give yourself an 18% raise in a year where you’ve committed a billion dollars to laying off and creating economic uncertainty for another 10,000 or more US employees.
Take a big increase in the year where you can claim you have successfully “righted the ship”, but you don’t deserve an extra dime when the bank is still flailing under your leadership.