#leadership

We wanted change, we got change. Let's wait for at least a few months or even weeks before we form our opinions on whether the new CEO will be good or bad for us. Or is that too much to ask for?

Congratulations to everyone on successfully participating in the CEO selection process by existing under it.

This is your friendly reminder that we'll all spend more waking hours under our CEO than under most elected officials, yet one is chosen by millions and the other by a handful of board members.

well ...

HPE is up 333%

DELL is up 3'300%

Funny when large $$$$ doesn't come with even a bit of common sense

Leave all zeros for Pulse. get your leadership fired before they lay you off!

dont listen to the people who say otherwise. those are likely bad leaders who are afraid of being downvoted

This spells nothing but doom for employees

Best news this year - Mike is out. Maybe now we have someone who actually understands payments and really cares about people instead of just saying it.

Now let’s get Dhivya out of here and we may have a chance.

The new CEO will want to make an impression from the start. My guess is he'll do it by cutting costs, whether that's needed or realistic or not. It happened with every new CEO and it'll happen with this one. The higher-ups fu-k up and we pay the price. Every single time.

The only two who know it well enough to fix!

On a scale of 1 to "heading back to the FB-plantation" how will the employees fair?

It’s because our so-called leadership are all id1ots and completely out of touch with what the average employee does here. For example, they tout the importance and success of meeting-free fridays. Don’t know about you all, but I’m still having meetings on fridays.

And, their justification for meeting-free Fridays is to wallow employees the ability to “connect with colleagues.” First off, the average employee is too busy to just set aside time to “connect” for the sake of connecting. Second, our colleagues are all spread out at different sites so it’s hard to “connect” on a teams call. Third, none of us have our own desks anymore, we have community seating, so even if we work at the same site, none of us even sit in the same area to “connect.” Forth, good luck finding an open area to “connect” in.

Since leadership wanted to try and cover-up their bad real estate deals and are packing us all in to the brim, there are never any conference rooms or lounges available. The other day, I saw two employees working in a focus room meant for one employee. Yeah, it’s getting that bad! Don’t let “leadership” fool you. They are just a bunch of inept employees who either have a piece of paper stating otherwise, got lucky or knew someone already in that “leadership” circle.

This has been the worst handled succession plan by a Board since Jack Welch retired from GE. Now the only option left will be to no real up the company. Clover alone is worth the current market cap. Mike was never the right selection but the fact that that they couldn't retain him speaks to the ineptness of the current Chair and Board. Even the activist investor knew it was a weak Board.

https://investors.fiserv.com/news-releases/news-release-details/fiserv-announces-leadership-transition

Mike is a gentleman but too much damage done by Frank. He can’t fix.

Takis is a horrible choice, he was groomed by Gibbons and didn’t have a role for a year after hiring Fiserv. Yes, Gibbons!

The Takis and Dhivya show will take FISV to $20/share. The chick Kent differentiate between workflows , automation and AI.

This company was at the top because of how prior CEOs before Frank respected their workforce, a reboot is needed.

Make the decision and bring stability.

I hope I am wrong but naming Takis immediately as the permanent ceo feels like a short sighted panic move. I am surprised they didn’t name him acting while the right long term leader could be found.

I've been here for for over a decade. Our people have knowledge and experience that can't be replaced. But leadership doesn't care. They've gotten rid of good people for stupid reasons.

They hire another old banker from another bank. Really thinking outside of the box here….lol.

I used to think that if I kept my head down and did solid work, that’d be enough to move forward. After a few years here, I’m not so sure. The people getting promoted aren’t always the most capable, but they’re usually the ones who know exactly who to compliment and when to be visible.

I’ve never been comfortable pretending to admire every decision from leadership or joining every little workplace circle. I’m polite, I help my team, and I meet my goals, but that doesn’t seem to stand out much.

It’s made me rethink how success works in some orgs. Skill matters, but being liked by the right people can matter even more. I don’t want to become fake just to get ahead, but I’m starting to see why some people do.

You should never have managers in charge who cannot tell leadership the truth. You have managers waiting to get a Greencard who are afraid are of losing sponsorsship.....Fiserv needs to reevaluate this. The Truth shows itself through stock value and client complaints. Why should client have to complain to the CEO to get help.

Urgent leadership meeting … no smoke without fire. Speculation?

Back to normal Oxy team! Expect new leadership to create a new initiative with all the cute buzz words.

Surprised no one has mentioned this. Anyone hear why? Any opinions on the new guy? Seems like he’s blasted through the exec ranks pretty fast

Looking at this hand picked replacement by Dan, if I were any of Russo’s direct reports particularly those with duplicative roles I would be VERY worried.

It’s time to clean out the 30+ year VZ leaders in GN&T and get some fresh perspective - it’s also not Y*go just for the record.

CEO is blind to just how bad tech is and Dil p is the root of the issues. So many issues!! Customers are furious. Tech stack cannot handle spikes. Horrible planning for DNS storms. Always an excuse never a solution.

It really is amazing the lack of C Level /VP level of accountability over the years.

AOL, RedBox, bluejeans and now $47M FCC location privacy. For years employees drilled on CPNI.

Board d Member sats Hans needed to be fired immediately after 8 years of deckining stock price and net adds.

SCOTUS rules 8-1 and zero Vz accountability.

Yet if an ethical Vz sales person misses monthly targets.. 60 day PIP and fired.

There is zero hope under current Vz C Levels Verizon succeeds.

Next play is divest business units and watch C Levels all cash out $3M in stock options. Already happening.

Meanwhile, Elon:

Elon Musk: There are no lords and peasants at Tesla. Everyone eats at the same table.

“I actually know the people on the line, because I worked on the line, I walked the line, I slept in the factory, and I worked beside them. So, I'm no stranger to them.

There are many people at Tesla who have gone from working on the line to being in senior management. There are no lords and peasants. Everyone eats at the same table. Everyone parks in the same parking lot.

At GM, there's a special elevator only for senior executives. We have no such thing at Tesla.

We give everyone stock options. Many people who are just working the line, who didn't even know what stocks were, we've made them millionaires.

And I just want to say that I'm incredibly appreciative of those who build the cars, and they know it.”

New York Times DealBook Summit, 2023

The World Cup unites countries and people thru soccer and sports conpetition. It appears RV is trying to stretch the BNY global brand thru a simple selfie pic on LinkedIn acting as if the FIFA World Cup excitement is energizing the BNY work culture.

I personally see almost no connection between soccer and BNY and even less of a connection between our CEO and all BNY associates and clients. The con man continues to turn tricks to manipulate public perceptions that BNY is globally connected, socially responsible, and cares deeply about its people. All I see his RV laughing it up with Alejandro Perez.

UnitedHealth Group managed to squeeze $12B in pure profit out of the healthcare system last year solely through value extraction. Like Sears, Circuit City, and other notable companies that found themselves in the trash bin of history, they are relying on their size to keep employers, providers, and members with them. At a time when healthcare costs are skyrocketing, they could be creating value in the healthcare system and — gasp! — earning some profit for themselves. Instead, they push out anyone who wants to innovate or question the dirty tactics and legally dubious actions. Hemsley was supposed to make it better. Instead, he’s made the company culture worse and is putting short term gain above not only UnitedHealth Group’s interests, but the already strained healthcare system.

Know this, there is an avoidable trajectory here; but persist down this road and some startup will eat your lunch just like Amazon — a nobody at the time — did to Sears and Circuit City. Change course before it’s too late. Hire some technology people that actually know technology. Hire ethical business leaders that will follow the law. UnitedHealth Group could be the reason the healthcare system gets better or the reason it crashed. Choose wisely.

UnitedHealth Group managed to squeeze $12B in pure profit out of the healthcare system last year solely through value extraction. Like Sears, Circuit City, and other notable companies that found themselves in the trash bin of history, they are relying on their size to keep employers, providers, and members with them. At a time when healthcare costs are skyrocketing, they could be creating value in the healthcare system and — gasp! — earning some profit for themselves. Instead, they push out anyone who wants to innovate or question the dirty tactics and legally dubious actions. Hemsley was supposed to make it better. Instead, he’s made the company culture worse and is putting short term gain above not only UnitedHealth Group’s interests, but the already strained healthcare system.

Know this, there is an avoidable trajectory here; but persist down this road and some startup will eat your lunch just like Amazon — a nobody at the time — did to Sears and Circuit City. Change course before it’s too late. Hire some technology people that actually know technology. Hire ethical business leaders that will follow the law. UnitedHealth Group could be the reason the healthcare system gets better or the reason it crashed. Choose wisely.

The last Reorg is a massive failure, very poorly planned and executed, they will pay the price soon. Layoffs are being done in the wrong places. Instead of constant reorgs that don't work why don't you layoff all the sycophant leadership who created these strategic blunders to occur and leave the alone the IC, you will need them to rescue your org. Once you have done that look into the current ICs for talent who have vision and creativity that can lead to true innovation and not just sychophants who will do as they are told. Nah instead you will make one or two changes, shuffle around some people, but keep the same id--ts in place. Congratulations you have not changed.

Keep hearing that lots of folks are resigning

Can you all say who are the notable ones in your functional areas? Focus on senior mid-career staff/managers, and executives. Should not be any concerns on name dropping since they are already out ...

There is a real disconnect between what leadership believes is happening. What is being reported to leadership is happening. What is really happening.

I’m a manager in an area that had layoffs this year. Now when you bring up issues, our leaders say we should be quiet and thankful we have a job. Leading through threats is now normal? This place is toxic.

Layoffs not totally surprising. The dead silence from any level of leadership is the more telling aspect. This round immediately after the close of the voice of the employee surveys!

This is all public information.

With the exception of Bob Hopkins, our execs effectively get their RSUs or performance rewards, then sell that sh*t as soon as it vests.

Forms indicating an (A) are the acquisition of shares, and in this small sample, the details in the forms shows you it's only ever receiving RSUs, or performance rewards.

The rest and vast majority of the forms are (D) disposal of these shares, and if you read the detail, they are dumping that sh_t as soon as they possibly can. All of the people below are regularly dumping their sh_t. These are not the actions of execs confident in this company. They know this ship is sinking and they're in on the grift.

Skip
https://www.sec.gov/edgar/browse/?CIK=0001708062

Goff:
https://www.sec.gov/edgar/browse/?CIK=0001560409

Bob H:
https://www.sec.gov/edgar/browse/?CIK=25200002114165

Marinaro:
https://www.sec.gov/edgar/browse/?CIK=0001984186

Matt Walter:
https://www.sec.gov/edgar/browse/?CIK=0002028475

Do your own research at SEC's Edgar site.

Fun bonus fact: they all have important ownership stakes in MiniMed. Funny that.

During open enrollment last year, HR announced that the company would discontinue our previous mental health plan (Chevron Mental Health and Substance Use Disorder, MHSUD). This change meant that employees and their dependents who were receiving behavioral health benefits via MHSUD would be forced to obtain mental health coverage via one of the medical providers that we selected (Kaiser, Anthem, Cigna).

The HR email alerting us about this change very casually claimed that “the kinds of behavioral health services covered will generally remain the same” and that “costs may change.” Well, that was quite THE understatement!

I find it truly unconscionable that our ELT, who obviously had to have been presented detailed cost impact scenarios showing the devastating impact to employees, willingly chose to implement this significant reduction to our mental health benefits. And they did so knowing full well that people would be struggling even more as a result of the layoffs and reorg.

Since not everyone might have a need for these benefits (consider yourself fortunate), allow me to paint you a picture of the shocking financial impact that our family is facing.

We have the Anthem PPO. I originally called them to find out the per-session fee for this year. They initially stated $0 copay or coinsurance. That did not seem possible, as we used to pay $13 per session last year through the MHSUD plan. I called back, and Anthem stated that our cost would be 40% of the billed rate.

Assuming a weekly session, below is a cost comparison of old vs. new coverage:
— MHSUD cost = $13 x 52 = $676 per year
— Anthem cost =
— $1,000 deductible (we had not spent anything towards the deductible); this covers 100% of our out-of-network therapist’s fee for ~7 sessions at roughly $152 per session
— for the remaining 45 sessions this year, we expect to pay 40% of the therapist’s $152 fee; therefore a total of about $2,750
— that makes our total out of pocket expense for mental health benefits this year ~$3,750
— that is an increase of ~$3,074 (over 455%!!!) vs. the $676 under the old MHSUD plan

My question to MW and whoever else was involved in this decision is how can you possibly justify so callously reducing your employees’ mental health benefits and so drastically increasing their financial burden? Have you NO shame or compassion or, at a minimum, any interest in keeping your workforce mentally healthy?

We’re not talking about frilly perks here. This is MEDICALLY NECESSARY care. Mental health benefits are CRUCIAL in some cases to keep people from inflicting self-harm and possible su----e.

I am beyond disappointed in this company and its senior-most leaders. Somewhere along the way, greed took hold, and for the sake of shaving a few million off CVX expenses, you abdicated your responsibility towards the human beings you employ and their families.

To think that anything will change because of this post is utterly pointless, I know. I feel better at least having documented this egregious display of callousness from MW and the entire ELT. It might be good for all of us to remember that mental disease does not discriminate. Someday it might be you or one of your family members to suffer a mental health crisis. Ask yourself: are you proud of MW’s behavior? Do you feel his and the ELT’s decision about our mental health benefits is justified?