How does this impact us?
17 replies (most recent on top)
@klbl+12V5Ssrp Correct and yet the Fiserv CEO just said he's going to manage HR, Finance and Legal, while our COO manages the rest of the company. This is a clear sign to the market, Jeff is working his way out and Frank will be his long term replacement pending his successful next year (or so). Its like on-the-job training for your replacement, or as I like to think of it training wheels.
If a CEO ever said 'I will take a reduced role focused on things that don't need much attention' the stock would tank and the board would fire him/her.
The SVP over my team said "Jeff and Frank will continue to collaborate on everything, this is just a new reporting structure to streamline operations." What I heard was a little different "Frank is going to run the company and Jeff will take a reduced role focused on things that don't need much attention."
Look, it doesn't take a genius to know that every organization thrives when it has two leaders. Go ahead, name a country that doesn't have two presidents. A boat that sets sail without two captains. Where would Catholicism be without the popes? - Oscar from The Office
Sales and Marketing also reporting to FB?
All operational leads now report to the COO. Only Non-operational business support roles (eg legal, finance, HR) report to the CEO.
For those of us already let go can you tell us the gist of the leadership update?
Today's leadership update should be a clear sign, FB is here to stay.
Wishful thinking. FB isn't leaving Fiserv anytime soon. JY will retire as CEO in the next 12-18 months but will remain Chairman for an unspecified time. FB will take over as president/CEO.
It looks like JY is prepping for an exit, whether it is retirement or another gig. There is no way he and FB are going to see eye to eye on running the company and its very obvious FB is doing all he can to eradicate the Fiserv culture with no one stopping him.
@12V5Ssrp-boul you smoking something? JY is the CEO and lives near Brookfield (but has a pad in Malibu) while FB lives in NJ and no doubt has a place in NYC. It would be a no-brainer for him to become a NYC resident, especially with all that cash.
Nonsense. The CEO doesn't even live in NYC.
I believe we are stuck with FB for ~4 years until his $500 million in stock fully vests.
Well... can't have BOTH jobs, so its good for the company :)
Great point
Think of the kind of ego in a person who believes he could win but has no expertise in governing or business success without stepping on people.
FB has no chance of winning, he isn't well known and the company he ran wasn't that successful.
Hopefully in a positive way where he leaves Fiserv and takes his cronies with him.