Lots of rumors that Niels Anderskouv was brought in to be the next CEO and replace TC as CEO. In addition, rumors floating around Reeder wanted to be CEO but was not given the position instead Anderskouv was and thus Reeder decided to leave. So, the question is will TC leave and if so, when? We need a change at the top, the road forward is going to be really bumpy with TSMC building 28nm auto fab in DRS directly competing with us, little to nothing coming from US Chips bill to GF, outsourcing of fab site jobs continues shedding many years of experience. We have a group of execs in development within GF who have absolutely no idea what they are doing. So many negative things going on at GF, we need significant change and some sort of positive news for once!!!!!!!!!
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Over $9M stocks exercised by TC in the last month, it appears he is preparing to exit or doesn't have much faith in GF's stock price moving forward.
https://www.theglobeandmail.com/investing/markets/stocks/GFS-Q/insiders/
The whole business unit is clueless at GF as shown by the existing technology portfolio. You have unqualified people running this business unit including a former IBMer who is running strategy in RF, HV/BCD etc but has zero knowledge in these areas. GF needs to clean house in the business unit area and bring in key execs who know the various business and needs of key markets GF wants to lead/play in.
This new guy is hired as “chief business officer”. But we already have another reject from industry , for the past few years , with the title of “chief business unit officer “ .
Can someone explain to me the difference between these two roles?! And why we continue paying the existing imbecile instead of kicking him out where he belongs?
TC as a CEO has plateaued, just as Sanjay before him and all other company CEOs. It is a hop on / hop off position. A CEO is brought in to do a specific mission and they typically exit after that mission is complete (or has failed). TC and DR were the IPO CEO and CFO. Yes, DR probably was expecting to be next in line for CEO as was Amir Faintuch before DR.
TC is done and has nothing new in his toolkit, just more of the same. I think it is a runoff between the new CFO and CBO to demonstrate that one of them is CEO material over some period of time whether it is 3, 6, 9 months or more is to be seen.
@1qfv+1mWJozjK. truth!
He’s already cashed out his stock. That mansion up on North Broadway is paid for. IBM, Global…. He’ll be on to wrecking the next business/company soon. Rest assured, the next CEO of GF will r@pe and pillage..
Why do you think that a new CEO will change in better? The new one will try to prove that the old one was no good, so he will do more cuts and BS. The bottom people will be the affected ones, while the top ones will still get the $$$. Obviously, I am part of the bottom ones.
The average tenure of CEO/executives is 5 years. The short man with the fake tan hit 5 years this past March..
Thank you for actually posting some insight, unlike the other 95% nonsensical posts that have consumed this site, lately.
Completely agree. Next layoff soon I guess..
I completely agree.