Strange that no PR announcement has been made about the abrupt retirement last week of the CFO of AT&T Communications.
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Randy
1) Stinky
2) DJ Jazzy Fresh
3) Mair McCheese
4) Feutsch in Mouth
5) Summers Breeze
6) VP
7) Director
8) Assoc Director (missing an AVP - could be another level)
9) Me
so yeah easily 2 levels could be condensed 3 if you count ths BS insertion of stinky into this heirarchy
@1fiv - that is absurd something eventually has to give. you cannot be that top heavy.
@1vji- you are spot on ...i am an L2 technical manager -(it /tech dev / ctio / who knows what we are called now) ... in webphone i now have 8 layers of management between me and randy boy ...that is absurb.
with all the outsourcing and layoffs their is so many managers that do not meet span of control requirements, you would think there should be many l3, l4 and L5 cuts coming
Too many VPs in this company. What do the all do? NOTHING. At&T should cut at least 50% of VPs and get rid of two layers of management below officer level.
The toxicity has to be reaching all levels. These individuals don't worry about savings, paycheck to paycheck or pension. They get fed up and go somewhere else IF they can continue making as much money. No need to put up with it.
Doubt that the CFO leaving has anything to do with pensions...pensions are a defined benefit plan, highly regulated and fall within a very specialized area...no reason why the CFO would take the fall for that and not merely because a lawsuit has been filed.
If he's taking the fall for something, it would be for something with wider implications; or, he may be distancing himself from some course of action that he objects to strongly; or, like "John," he may have lost a power struggle.
Wonder if it has anything to do with the pension lawsuit.
The CFO abruptly retiring is unrelated to the attorney VP's who left. The attorney VP's were all 5th levels (below the Sr. Executive CFO level), and their retirements were announced weeks in advance of their last day (Dec. 30th).
This is probably less innocuous than it sounds. There were 7 exec announcements on Friday for VPs leaving/retiring. Reads as though they all took an offer and will be out 12/31.
DeGeorge
Meade
Paisley
Spano
Fete
Parsons
Either something is going on that the CFO didn't wanted to be associated with, or he lost some type of internal power struggle.
It’s because he made an error in a town hall.
When asked why we would buy back stock rather than invest in the infrastructure, Mr. Fete stated “we have PLENTY of money to do both”.
Obviously this was inaccurate at best. As soon as he said it I imagine corporate heads exploded.
There must be a skeleton in the closet. Could be a conduct issue. Why would you leave with year end reporting cycle coming up?
Just before year end he didn’t want to take the hit for more subscriber losses, and disappointing financial results!!
He was over 60 and made enough money already. No mystery.
Donovan leaving with very short notice didn't present good optics, but his example can sorta be explained away by "he wasn't getting the top job that ended up going to Stankey." A CFO leaving with zero notice certainly should cause some pause and make any sane person wonder just what the heck is going on?
Ok, who knows something? SEC investigation? Randy, are you on here?
Yes, but, why that is the question?
They just don't walk away for no reason, and so abruptly, at that level.
He walks away with millions just in time for the holidays, and keeps his freebie benefits!!
Dan J. Fete.
What’s their name?