Saw the SEC filing that Donta Wilson and Mike Maguire are each getting $4.5MM as a retention bonus. They’re inventing too people to stay so they don’t dip like everyone else is doing. I’m guessing Clarke will be the next to go.
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Hey - mind yo business y'all.
How does this company keep getting worse? Throw a ton of money at 2 order takers, one of which is a complete DEI mark on a score card. Making us peons RTO even though the studies of our dept show we are more productive from home….I’m close to retirement so i’m hanging on by a thread hoping for a package…
DUI Policy
@2pqb+1ugvQfKw…. It is very interesting information about certain ones being removed. It does not surprise me. They leave just enough to affect the score, so incentive is messed up but not all to get a true picture of how the clients feel and do something about it.
What a place to be right now.
Donta is a total joke - feigning enthusiasm, sense of entitlement, extremely pretentious...heck of a guy.
Mike hasn't even been in the CFO seat for 2 years. The guy has way more questions than answers, and the only thing he's really done so far is reduce the 401k match.
I think I'd respect the leadership more if they would just cut the nonsense with pushing values like "One Team" and "Caring" and just say what we're all thinking: there is no strategy, the bank is basically a melting ice cube, and executive management is going to line its pockets as much as legally possible.
@1jtj+1ugvQfKw, apparently it got Donta’s name on a building.
https://www.yahoo.com/news/unc-charlotte-renames-dorm-black-211717918.html
I agree with you “ @1vbo+1ugvQfKw”
I work with concentrix and we see so many clients complaining about short staffing for the result of their poor score meanwhile the company doesn’t allow the location to dispute the reason they have no control over but is a result of a corporate decision. We see 90+ percent of poor scores has to do with right sized staffing from corporate in universal sized branches. We were even told to remove surveys of customers who complained about teammates working alone not being able to use facilities. I am surprised that this company hasn’t already caught the attention of regulators or class action attorneys. I save survey ID numbers just in case these things become a problem in the media and I’m asked to testify.
On the surface it makes no sense. Why this on top of their current huge salaries and equity awards? Why these two? They are generalists with no specialized expertise that represents a competitive threat. Both are, at best, nothing more than order takers.
One thought. Is there a merger or other deal being worked out, and this is a consolation prize for two senior executives that are going to get a smaller piece of a big payday?
Makes no sense whatsoever to pay retention bonuses to these two individuals. For what? Being loyal and subservient? Come on BOD, be better than this. All the talent that has walked out the door and you pay these two to stay?
“Is it a retention so they stay? Seems more like a performance award for the sale of TIH”…. If you read the filing it states specifically …“to support the retention of key leadership critical to taking full advantage of the business opportunities created by the TIH transaction”. So yes it is clearly a retention bonus. They can package it as a “leadership award” but remember this “you can disguise any set with lights and shadows” Allan Dwan. It simply amazes me that they can even consider this when we have peer banks and community banks with far better technology, many branches which represent the Truist brand in our clients eyes can’t get new roofs or carpet among other needed improvements, we have complaints on VOC about how short staffed the branches are but they don’t listen to those complaints for support of hiring more people. They talk big building better lives” …..just whose are they talking about cause it is not mine nor the clients.
I hate this company.
Is it a retention so they stay? Seems more like a performance award for the sale of TIH.
Unconscionable in this environment. On top of that, two individuals, from an objective talent perspective, that could be replaced by arbitrarily picking two names out of the phone book.
Anyone that still doesn’t believe Truist is nothing more than an ATM for the executives, I simply do not know what more evidence you need to see.
This is ridiculous. The company just laid off an army of people to cut expenses and they go out and spend $9MM on two executives while the average Joes and Janes have to watch every dollar spent. The hypocrisy as if we aren't paying attention is brazen.
The fact that Donta Wilson is considered worthy of such giant additional pay at a regional bank reassures me that showing myself out the door very soon is definitely the right decision. The most senior people and the BoD simply have no clue about the truth or the real situation in CSBB, it’s a cluster.