What is the most amazing thing to me is that post after post, whether it's this site or Glassdoor or any other, people are screaming out that FD leadership s—s. People are screaming, this is not working. FD runs over everything and everybody with the my way or highway mentality and no one in senior OFS leadership gives a single sh–. JY apparently doesn't care either. Jeff and Frank, if your plan was to make everyone unhappy, make sure all of the good people leave for other jobs and change the culture to a very unpleasant place to work, then congrats - you've succeeded.
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Well, he will be successful in leaving a legacy. He'll go down as the man who allowed Fiserv to crumble.
Jeff has this grand vision of leaving a legacy. He thought people would write books about his capital allocation strategy. He forgot what all great leaders know, success is largely based on timing, some luck and having great people.
Also count the sheer number of messages for the past 3 months on the FD Gestapo. It far outpaces even historic bad places like IBM and others when they have RIFs. Incredible - and one has to choke reading that most admired lie anymore. So glad to see ethical people remaining true and getting out.
I don’t fault JY for wanting to do an acquisition. The products of both companies don’t have a huge overlap and it gives FISV a global presence.
Where this failed was not looking at OFD culture (which was widely known to be lousy) and to accept a deal where OFD management came over. That makes it a merger, not an acquisition.
What JY will likely learn from the comfort of his Malibu pad is that it would have been better to pay off FB, dump OFD senior leadership and let Fiserv shine. Too late, the horse has left the barn.
So glad I am out of there! You know, sometimes in life for fame, fortune and riches, you make a deal with the devil. In Jan 2019, Yabuki did just that.