I get it, Charlie this and Charlie that. But he is just one person. What do you expect him to do after taking over following inertia such as Stumpf and Sloan? Part of his position is to trim costs. That means layoffs. Be a bit more real about this everyone.
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Maybe, just maybe, Lead?
Is Charlie's salary/bonus tied to performance? If so, what goals did the Board of Directors target for him?
I expect him to LEAD!
I'd like him to get abducted by aliens but that won't happen so simply dropping dead would be great.
For 70 million (35 mil x2 years) what do I expect.....
Clear strategy tied to front line activity
Organization around the key threats to the bank, namely aging tech, reputational risk and fed compliance, competent leadership teams who are engaged in planning and provide informed input, reasoned accomodation for a workforce that is concerned and to take a toastmasters class to stop saying um.
Post ID: @atx+1d5NXYwI
https://www.americanbanker.com/news/wells-fargo-released-from-one-enforcement-order-still-has-10-to-go
Regardless of what you think you've seen, we're slowly making progress.
I believe in Charlie
Stumpf and Sloan were absolutely disgustingly useless
A huge organization takes time to turn around. The problem is it’s a long term fix and too execs get paid based on short term stock movement. Plus, how many ceo’s get a 10 year commitment from the board or give that to the board. Sometimes you break stuff trying to make big changes that are better in the long run. It makes people mad short term. If it was me I would work like crazy for $25 million but only for a short time. 2 years max and then peace out.
OP, I would expect for him to stop hiring his Chase buddies and providing outrageous salaries and stocks. These managers aren’t actually bringing about meaningful change.
I expect him to automate and slash our workforce quickly and be done with it instead of holding it over our head for months.
I agree with @atx!
After two years I expect to see some sort of minimal progress made towards getting the asset cap lifted and restoring our reputation. I’ve seen neither.
OK Charlie, I created this, "What do you expect one man to do" post for you. Now will you come home now please, your dinner is getting cold!
For $24 million+ I expect him to not be a lazy as----e, sitting in his NYC penthouse, making people miserable!
For $24 million+ I expect him to not be a lazy as----e, sitting in his NYC penthouse, making people miserable!
But Charlie isn't just one man.
Charlie brought over a whole team to help him steer this ship. He and his Lieutenants have done nothing but get paid, sew discord, and continually backtrack and cover for their poor decisions.
He's the leader and he's leading us to failure.
Charlie, is that you?…I knew it was!
Get off the message boards and get back to work. You have a company to run into the ground!
Post ID: @pcv+1d5NXYwI
I would happily respond to you if your statement made sense.
@qmj+1d5NXYwI. You sound so important Did you tell the board about your expectations and they hired Charlie?
Sounds like something Charlie’s wife would say.
He is tasked with turning it around, he said he would turn it around, and he has been paid well to turn it around.
He is not being criticized for laying off employees. He is being criticized for not doing a job for which he has so far been paid $50 Million.
is this post serious? The man is CEO .. he makes $24M / year.
I expect a lot!