KFARR done. A dozen or so more to go Margo. Nice w HR. Cool with CIO. Clean-up the EVP situation next. Would make sure you reverse the bad RGRoss hires. The new CFO will remove the useless finance excess.
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I had reservations when MGo was hired. Now I'm becoming a fan. She is weeding out some of the despicables.
If you are highly compensated and not delivering immediate revenue you are as good as gone. Get ready for more rounds.
Time to show the Napoleonic Normile the door...he has everyone believing they can't s--- air without approval from the law department... no one in that group does any lawyering; they just hire outside counsel at outrageous costs. Interesting to watch Hasbro succeed; last we knew one of their leaders is a former FP. Eliminate atleast 50% of Director level up and you might have an organization that can pull themselves out of the fire.
RD's day are counting down. He's the only Chief Operating Officer who doesn't have Operations reporting into him. It's because he's just an overpaid megaphone of the early 2000's. His mantra of "relevance", "crispness" and "validation" jargon is just over-used, under performing jargon to try and distract investors.
The Bro Investors who helped elevate him are scratching their heads about what went wrong, because they don't do their job and actual dig into and understand how the company's business model is structured and runs. ANY monkey can tell you that without a disproportionate amount of fashion dolls being sold, the average margin is going to continue to drop because HotWheels only makes pennies and is buoyed by Star Wars. Once that starts to decline, HotWheels will get exposed for the "all talk, no profit" brand that it is.
Go Mo-Go. Keep working the list of the useless, overpaid long timers. They killed this company.
too late for SL - she got canned yesterday. She was never "owed" anything - she was just an entitled hack who had an ego that rivaled Trump's and no one was willing to take her on. M-Go has at least realized that at an EVP level, you need to have worked at other companies to have a real perspective to run a business.
GW is next.
It's time to remove RD from the earnings conference calls. He has no credibility and says nothing. With every call and investor meeting the shares dive 10% The call should be Margo and the new CFO. That is how it is at other companies.
Net benefit. He is unnecessary overhead. We are top heavy across the board.
What would actually happen if RD was fired and not replaced? What exactly does he do beyond being a cheerleader?
Until you can find an outside person to replace RD, you can't fire him unfortunately. He's the pied piper, and Margo probably has him figured out, but she now also realizes that the bench depth of Mattel is next to nothing. The two heads of barbie Design and Marketing are both tactical people who execute and don't have vision to run a brand or lead. The heads of Hot Wheels Design? Well, the VP design hired a marketing guy so that he wouldn't have a real designer challenge his own lack of skills. BF ran for APAC while he could which was smart. HL quit.
You can clean house, but if you don't have people waiting in the wings who are potentially better, you wait. Who would you want in RD's place - SL? I'm sure she thinks she's owed that position...
RD is the epitome of what's wrong with MattHell & when/if he goes he'll also leave with millions as did KFarr from the truth did. Then all his tape worms like CClicheDown and many others need to go as well.
However, wishful thinking which I don't think will happen. The swamp will stay.
The real prize is cutting down RD. That would indicate we are moving to the new Mattel
Here are the next steps to remove the waste and start new.
Any EVP at Mattel for more than 10 years out. They created this mess.
Any Gross hire out. He was wickedly poor at assessing talent.
Then use the same criteria for SVP's.
We then zero base the org. Clear out at least half of the problems to start and give Margo a clean slate.
It is only Progress if you replace the useless with someone competent. Mattel Upper Management has a poor track record of this for the past 15 or 20 years. They tend to replace useless with useless. Let's see if MGo can break this cycle. I am hopeful, but not laying odds.
I would call it progress once SLecker is out. Another leader not Margo!
The latest bit of “progress” is great news for the company! MGO is swinging the bat and that is a good thing…finally. It only took her 30 seconds and one meeting to realize the HR joke had to go. Easy home run. Next, the CIO, PR – useless, self-aggrandizing and, along with the CFO - KF, contributed to the demise of the IT organization. Most companies consider IT a strategic weapon…not ours. IT became a cost-cutting target to make up for the poor financial performance of the company. We lost so much leadership, business & operational knowledge due to the outsourcing of IT- it was disgusting. Maybe saved a few dollars (who knows) but it set the company back years in its capabilities. MGO has lots of work to do here but this is a great first step – I hear the IT people (those left) are rejoicing in the streets. Another home run. Finally, KF, CFO – the fact that he has survived this long speaks volumes to the dysfunction at the top. He has overseen the financial demise of our great company. For years, he hid behind his generals (former controller, ST and head of strategy, DV) who did his bidding – injecting fear, distrust and established a corporate culture from the very top that will take MGO some time to overcome. The age of the “Napoleon complex” is finally over – hopefully, it is not too late. A long ball home run to be certain. Finally, MGO – have a good weekend and pat yourself on the back – you have had a good week or two – we all hope you are just warming up. On Monday, pick up your bat and wander into the legal department. We guarantee you more homers.
When was KFAR the truth whacked? Hasbro broke all time high stock price yesterday @ $113 and are killing it and MattHell. Makes total sense that their EVP, VP, Do nothing Director count is way lower than MattHell. Can't wait to hear the Q2 propaganda spin & wondering who's gonna do the financial spin if KFARR is indeed gonzo?
I heard that the reason we're always getting those annoying mock phishing emails at work is because this guy fell for one of those Nigerian Prince email scams and sent millions of Mattel dollars via Western Union to some dude in Cameroon and ended up inadvertently ended up funding the militant Islamist group Boko Haram.
Yes, a company getting smaller by the day staffed with titles like it's a Citigroup. Also, Hasbro comp costs are siginificantly below us at the senior levels.
is SL still staying afloat with all of the excess fat from her liposuction surgery?