Give us the scoop on Lyons. Already sent corporate email to all of Truist saying hello. More info coming soon. We are ecstatic to get rid of our current CEO to a forced retirement.
What does Mike think about hybrid. Working from home 2-3 days a week?
From the Fiserv message board, looks like he joined Fiserv to be an axe man, now he is dragging his axe out to the next victim (Truist bank).
Does he realize most companies, especially in the financial sector are very top heavy.
Does he get rid of management, or the people at the bottom doing all the work.
Thanks for any advice you can share.
7 replies (most recent on top)
@en did he really walk out, or was he pushed out by jana?
He literally walked out on 40,000 plus people with no notice 2 weeks before the quarter end… you can have that self centered leader
to be fair, he was duped by the other POS CEO and walked into a trap here. he didnt have the 'background' in f-kery (so maybe a positive for you guys), and was probably hand-picked for being naive and 'too good' of a person.
maybe it could have been handled differently with a different CEO, but the mess was already here when he walked in, so take that for what it's worth.
He was a non-event at best..... talked a lot but does the same thing as every CEO... comes in... lays off a bunch of folks in favor of "technology" ... hires his friends to come in and run business lines they know nothing about and hopes things are already running well enough to support the additional weighted top heavy orgs.
He is a nice guy - relaxed on wfh / in the office. This will be a job sized right for him, Fiserv was too big and too complex for a first time ceo.
@a2 they will never go back to hybrid.
He's not a WFH guy, however he was beginning to roll back the bullsh-t Frank had in place. Like getting rid of Sapience tracking, adding back flexibility and WFH days.
Not everything was bad in the beginning. We all breathed a collectively sigh of relief in the first summer he was here, but I felt that Lyons was knee capped once he peeled the rind off this place to see the damage done by Frank. He got rid of quite a few of the old minions, except for a few (looking at you Lyndon K). He made it know that things were royally fu---d up and the books were cooked.
Once Jana Partners came on board in November, I saw a shift in Mike's tone. They forced him out. They are also shaking up the Board of Directors.
If he was permitted to do the job he was hired to do, he would have been more effective if it weren't for the interference. That's just my take on it.
You’re welcome to him. He was in over his head at Fiserv. As for hybrid work it’s not up to him. It depends on whether Truist made tax saving deals with the states they operate in. If so then they are obligated to bring people into the office to spur local economies.