#csuite

There's no way IBM won't feel some residual effect from this.

https://www.wsj.com/business/c-suite/kyndryl-finance-chief-wyshner-leaves-amid-accounting-review-167cd93d

The company also cut its guidance for the year after posting third-quarter results below Wall Street expectations

By: Colin Kellaher and Elias Schisgall
Updated Feb. 9, 2026 10:19 am ET

Shares of Kyndryl KD Holdings lost more than half their value after the company’s chief financial officer left amid a review of accounting practices following an inquiry from the Securities and Exchange Commission

The information-technology-services infrastructure provider on Monday said finance chief David Wyshner had left the company, along with general counsel, Edward Sebold. The company also cut its guidance for the year after posting third-quarter results below Wall Street expectations.

Shares were down nearly 57% in recent trading to $10.18.

The New York-based company said its audit committee was reviewing its cash-management practices and related disclosures, including regarding the drivers of its adjusted free-cash-flow metric, as well as the efficacy of its internal control over financial reporting, according to a filing with the SEC. The review came after the SEC’s enforcement division requested certain documents from the company.

Kyndryl said that while it doesn’t expect the review to result in a restatement or other impact to its financial statements, it will delay filing its quarterly report with the SEC and expects to report material weaknesses in its internal control over financial reporting for fiscal 2025 and the first three quarters of fiscal 2026.

The company said it needs more time to finalize its quarterly report, which covers the fiscal third quarter ended Dec. 31, adding that it is developing a remediation plan that it will outline in the report.

Kyndryl Chief Executive Martin Schroeter declined to comment further on the company’s earnings call. “The fact is we just can’t comment until the examination is complete,” he said. “The teams are working expeditiously so we can share a remediation plan.”

He added that the company’s fiscal 2028 goals remain intact.

For its latest quarter, Kyndryl posted an adjusted profit of 52 cents a share on revenue of $3.86 billion, shy of the 60 cents a share and $3.89 billion, respectively, that analysts had penciled in.

The company said it now expects its full-year revenue to fall by 2% to 3% in constant currency, after previously forecasting a 1% rise. It also cut its full-year guidance for adjusted pretax income and free cash flow.

Harsh Chugh, Kyndryl’s global head of practices, corporate development and administration, has stepped in as interim chief financial officer, and Mark Ringes, deputy general counsel since 2024, will serve as interim general counsel. Both appointments went into effect Feb. 5.

Both Wyshner and Sebold had been in their posts at Kyndryl since 2021, the year the company was spun off from IBM.

Highlighting one of the reasons among many in Molina causing this huge Margin issues. CIO "A D" hires from his pet IT vendor Infinite and lay offs us full time IT and business operation employees. Many of us in IT & Operation management know CIOs connection with Infinite and what’s their benefits from them but remained to keep mum fearing backlash. He indirectly forced us (management) to take contractors of Infinite and favored Infinite to get many useless projects (some were necessary but many were just there to give them business). He has milked Molina a lot causing this huge margin issues for Molina now as he gave tons of useless projects to Infinite and indirectly gets benefitted. COO to whom CIO reports, probably knows about it and possibly is friends with Infinite too obviously for mutual gains. They are firing employees now after doing a bad job of not managing the margins correctly and causing excessive spending in IT and overall company operations. They should be the first one to be fired as they caused excessive spending as someone said in comments in another post about the spend in Azure, useless Upgrades in pretext of modernization, New Products, AI spending to name a few. Just imagine, we are serving the poorest of poor folks in USA by doing R&D in AI, building them shiny apps etc. using companies like Infinite, offshoring the Jobs and paying company like Infinite with USA government $$ which is meant for the poorest of poor Medicaid beneficiaries.

All roles are on the list for 2/19. Sales/clinical/office. No rhyme or reason other than saving dollars to shore up the failing bottom line for Wall Street. The irony is that the c suite is creating this constant downward spiral because of their failure to listen to the market and re-invent the business to stay relevant. History has seen this exact scenario play out time and time again in business. The ego’s and audacity of the current leadership to think “they will be different and make it work” is what every other leader in a failed organization thought as well. The real losers in their game are the low level workers and members.

Its obvious Mike is tired and stressed after everything hes been through. He's made tough decisions all while making almost nothing. I mean this man blew out his knees for us. Is there anyway any of us could return the favor? If I had been in Covington I would have un-zipped it right on stage. He's earned it!

T Mobile never had a terrible CTO like John Saw. He has destroyed our organization to a shell of what it was under the previous CTOs. We have lost serious talent and expertise under his leadership.
When he was CTO of Sprint, he almost drove that company to bankruptcy with poor decisions and leadership. After that fiasco, why is he still CTO at T Mobile?
Fire John Saw and save T Mobile.

I don't think there's much to lose and there's certainly plenty to gain.

What does a CAO do? What does your BL’s CAO do? What are their responsibilities and are they really needed at the bank? I feel like it’s another inflated title for someone without a real role. What am I missing?

Credible estimates are that 10-15% of employees (7,000-10,000 people) will be laid off over the next several months, with the process beginning today (1/29). Cigna is in the mess we’re in because we:

1) have no actual long-term strategy,
2) have significantly under-invested in our systems and products for years, focusing only on short term earnings, and
3) have let our operating expenses get too high, primarily due to the systems inefficiencies caused by #2.

The CEO, President, and CFO are directly accountable for all three factors. Yet it is all of us who are paying the price for poor, out-of-touch leadership, incompetence and personal greed (prioritizing short-term stock price performance over long-term company viability to maximize their own incentive compensation).

The main reason cited for all the layoffs is that our expenses are out of control. Hmm… who was the CFO the majority of the last 5 years while that was happening? Oh right, it was Brian Evanko. So he let it get out of control - and then got promoted to president?? It was maddening to hear him tell us in the December town hall that our expenses were out of control, as if he had no idea how it happened and it was a surprise to him. The lack of self-awareness and accountability was stunning.

In 2024 David Cordani made more than $23 million and Brian Evanko made over $10 million. Since the odds are very low that they’ll get fired by the Board of Directors for chronic mis-management, does anyone want to bet that at least their 2025 bonuses and incentive awards will get cut as part of the overall cost cutting and poor company performance?
Hmmm, no? Me either. I expect they’ll just reward themselves with more massive bonuses and stock awards rather than being held accountable for the situation they put the company in.

Good luck to both those who will lose their jobs and those who will be left behind to try to salvage this mess with far fewer resources and devastatingly low morale. We’ll each know which group we’re in soon.

So, today, I got tired of all of these silly "executives" and the "C suite people" do nothing, talking heads, and I tossed all of their resumes in the trash. I hope they all get a layoff. I'll never hire them. There are soup lines and Habitat for Humanity that still exist. Surely they will get help in order to live a reasonable existence. I have faith in the system.

Between ap and la.

What does this mean for cs?

The AI scam....ummm, black hole synopsis. How can current C suite execs be so gullible?

https://www.youtube.com/watch?v=l0K4XPu3Qhg

What does your intuition tell you about how the firm will do in 2026? More layoffs? Higher stock price? Any changes at the C-suite level? Asking for a friend who is trying to decide whether to fire WF and how soon.

He has tried, give him his due. But in the end he’s failed. As he put it - my best plan is to Buy shell shares back at the absolute top of the market’ the end.
Absolutely zero vision # not worth the money (millions)

I guess anything is better than Ramon. Or ram. Just gotta outlast whatever time it takes for them to kick RL to the curb.

Everything Doug Field touches dies.

Puzzled by the fact that no announcement has been made yet. Wondering what’s going on behind the scenes.

Steve B does not deserve the 14.3 million he makes as salary. He is an id--t.

Ah yes, I remember all those times Bob Bakish had his father come to business dinners to talk about mergers, or had him hop on Zoom calls with advisors. It's totally a normal thing for CEOs to have their daddies help them with their jobs.

From THR (link below):

“If we have the privilege to work together you will see that my father and I are the people you had dinner with,” Ellison wrote. “We are always loyal and honorable to our partners and hope we have the opportunity to prove that to you. Best, David”.

https://www.hollywoodreporter.com/business/business-news/inside-paramount-bid-warner-bros-discovery-david-ellison-1236445012/

Anyone who worked with him when he was in lower positions, was he always this heartless and uncaring towards others? Did he grow into it or was he always terrible? Ive only been here a couple years and he's a monster in many ways.

We know you are in here watching these threads, much like you sit and watch your minimally staffed teams struggle and break under workloads. If you have a shred of humanity in you, we are PEOPLE, not machines. While labor laws are pretty sh-t in this country, they do exist. Also, your job will not last forever either and we hope the people you burn while you sit and watch people struggle helps to keep you warm when you attempt to get your next job.

Brian Roberts refuses to humble himself. He is turning Comcast into Blockbuster 2.0. He won’t go down with the ship though. He doesn’t have the moral or ethical framework.

That is why he might just go down as the most hated businessman in the country.

We didn’t learn anything about changes made and was he drunk, hasn’t slept in days, or showing signs of a stroke?

Something seemed off

Looking at Dan, Sampath and Hans. Interesting read from Forbes.

https://www.forbes.com/sites/victorlipman/2013/04/25/the-disturbing-link-between-psychopathy-and-leadership/?fbclid=IwdGRjcAOVdr9jbGNrA5V18GV4dG4DYWVtAjExAHNydGMGYXBwX2lkDDM1MDY4NTUzMTcyOAABHr8AspRVmyP5k6lgfQ1lGS10G8PArOO9f3lJzBR1PwgJj8CJwKKsmGkJMkbP_aem_u6pZrfuWmrVLbgrPl7N6iw

Have we ever thought deeply on why we have failed, why our products and solutions are not exciting the market and why even the mainframe offload is dragging for last 10+ years. The answer can be found in the old timers, the architects, who have hung on to their positions even when the organization had lay offs every 6 months. How did they manage that - simple - do not document what you know, do not share what you know and object any changes or fresh ideas that is brought to the table under the guise that we know better than any one. The culture of obsession with self, lack of patience to listen, intolerance towards others and ideas, antipathy to people suggesting innovation, going on in circles in every meeting on why some thing would not work, than how can it be made to work, starts with the head of Architects, who is also head of labs. Knowledge of what you did is good, but if it cannot be used to save an organization, which is going down quarter by quarter, what is the worth of that knowledge. But are they worried - no - as most are close to retirement and will retire nicely with a package , even if the company files bankruptcy. So change the layer that is slowing every thing down and put some fresh, energetic, risk taking, innovative, ready to work hard and have a mission to save the company.

As a TSYS Issuer TM I was very excited when I heard we were getting AWAY from GP and joining forces with a company I thought MAY know how to do us better. I figured it definitely couldn't get any worse than being treated like the ugly stepchild like GP has done us. With that being said I'm losing confidence daily and at this point just hope I have a job in this cr-ppy market. I'm sorry and I hate that you all have been going through all the same cr-p that we have (McKinsey) recently. Just to add a little icing on the cake your CEO and Chief People Officer joined our Issuer All Hands this morning and we're about as happy and excited as anyone could be. Hard to imagine they could be so happy at the exact same time their TM's were being fired via Google Meets. Really makes me feel warm and fuzzy about joining the team! Not an ounce of regret or remorse in either of their voices. 🤬

Hans is saying

“Let’s go” while pocketing 20 M worth of advice to Dan.

Please tell me that most C-Suite executives will also feel the pain. They enabled Hans and others to gut customer service and raise prices without adding any real “value” while never stepping foot into a store or call center to see what was really going on. Hans needed to be gone a long time ago but he shouldn’t be the scapegoat!

Anyone knows what are the on CXO or Brian Higgins ?

S.S. said:
Layoffs are a symptom of a system that has lost its heart, not a strategy, and great bosses don't lay people off.

No great bosses here. Just overpaid C-suite listening to consulting firms who use spreadsheets to chop people and perks.

That's it. That's the post.

Why does Oracle keep stacking layers of executives who pull in oversized paychecks while acting like the company would collapse if they skipped a meeting?

This whole sh*ituation is down to three things:

1). Hans. He was the CEO when we saw the company going from being leader in everything to leader in nothing an losing in the market. Buck starts and stops with Hans, all the while he spent more time at sports events than actually running the company. GUILTY.
2). The Board. They signed off on the plan every year. They are ultimately responsible to the shareholders. They need to be held to account and changed. GUILTY
3). The dead-beat VLT. They came up with, and 'executed' (right word) the plan that got us in this situation. In particular Scampath. GUILTY.

ALL need to be changed otherwise zero credibility. One down, two to go.

I have a very trusted connection to a manager who is connected to a SVP in North TX and there is another RIF coming up mid-late Nov. Each time they have told me it’s been true so I’m guessing this next one is as well. I don’t have specifics but it’s a good number of people. If you have any PTO beyond 40 hours use it up cuz they won’t pay you for it. If you get past this one plan on applying for a new job. I don’t know how they can keep cutting so many and still function. I wonder if the C-suite gets wind of sites like this and reads the impact and disgust people have for them. People just want to work and make a difference and get a paycheck to live. Not get all involved in drama but here we are loving our teams but hating corp. it’s sad.

Sona Chowla exiting, Chris Corley as well, more conglomeration at the top with people leading combined departments. Tariff pressure coming down the pike and probably foreseeing a dip in stock price so those pay packages aren’t as appealing. But don’t people want to work with an award winning CEO voted on by her Chicago peers?

What is the call on the NPS score, the profit number (-$27M), and the net outflow number for the year ? Why have more plans left this year compared with last year ? I thought The C-Suite and Mo--narrity stopped the bleeding last year. What gives...

C suite off most companies taking boards and staff for ride with cooked up nos on AI impact

So all the Big Swinging D!cks got together this past week to figure out how to get rid of more people or whatever and they had a bunch of guest speakers talk leadership to them. Interesting list:

1. Andy Jassy - who runs a company notorious for sweatshop practices in the warehouses and highly political PIP and stack ranking culture for management.
2. Marissa Meyer who basically took Yahoo out back and shot it after she took over - though granted it was already in deep sh!t but she certainly didn’t help.
3. Steve Ballmet. Yes he built a nice arena for the Clippers but MSFT stock took off after he left and his Clippers are implicated in potentially one of the worst NBA salary cap avoidance schemes in decades. Apparently he and Stankey were having a grand old time according to my VP.

And these people were telling our leaders how to lead. Watch out over the next few weeks

I have an idea! Leave ! Help the company by leaving.

As title says.. I will vote for C. Paul and Vivek (whatever the last name is). They both need to be packed and shipped out asap. They are robbing Verizon. CX su-ks at all levels.