How many more chances does he need?
The ‘laser focus’ and ‘execution’ narrative grows old. Board needs to step up.
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For those that didn’t know, this was his first gig as CEO. It made sense when the company was in dire straits (no one else wanted to join a sinking ship). Now that he has done what he does best (OPEX efficiencies), it’s time to bring in a visionary who can help the business grow. Kurian can stay on as COO because that’s where his skills can be put to best use.
It’s not about who he is as a person. Doesn’t matter really. It’s about how he manages this company. It’s business, and he hasn’t performed.
GK is not a bad guy but his blind spot is he doesn't surround himself with good people who tell you the truth. He only trusts his inner circle and fails to consider different view points. Reality check is important.
Stock price is sh—. That is why I agree with this.
What transformation? Selling buildings? Laying people off? The great diversity numbers?
GK (Mr. Kurian) did grab the opportunity to be "master of the downturn" very well.
He gave everyone 51% ICP and he gave leadership millions and stock at "aforementioned prices".
Look at how much he made last year. All that money for a c-appy year. Deserved?
It is easy to be a hater on the Internet but let's talk the talk. Mr. Kurian stepped up in the transition from the former CEO. He was given an opportunity to be a 'master of the downturn' and he has executed very well. The supporting point for that is the aforementioned stock price. The question is how can NetApp or any on-prem hardware centric company maintain relevance today into the future. They can't! If you work at NetApp it is your responsibility to understand the business model and direction of the company objectively and manage your career for any ups and downs. That is applicable to any company. NetApp has had a good ride, it is not all p–poo but if you are there be aware. Be aware of the tectonic shifts between on-prem and cloud and how does that impact you and your world.
All Kurian has done is sell real-estate assets to Google and cut headcount to balance dwindling revenues, almost every quarter. Buying back shares to artificially prop up stock price and "manage" wall street. No real innovation nor reinvention. Sorry state. That's what happens when you have a CEO not from the industry and is at the mercy of "technical" advisors who have their own agenda. Simply pathetic in all front. Most people know what's happening, but remain quiet and keep looking for other jobs. Politics galore.
Innovation and transformation means hiring Management consultants to interview internal management teams and take the findings to produce a good looking power point deck. NetApp operation is being run by contractors who are happy to milk on FTE’s expense.
The stock is not up because of good reasons. Head-cutting is a short term boost to a company's bottom line and traders know that. This is a momentary boost for the stock price. Long-term trend is down and will continue down without top and bottom line growth. Being pulled from the S&P 500 index is nothing to cheer about either...
I think they thought they were hiring the other Kurian. Googles gain, NetApps loss.
Agree - GK should have been fired by the board years ago. Absolutely no vision or leadership coming from the top. George's idea of "innovation" is to hire consultants to come in and tell him what to do...
How stupid of you to say Kurian should go- You are brainless.
❌ 50% ICP when execs got millions
Up after hours. Oh, and that hurt!
Diversity! Stop whining and enjoy your privilege.
Hey, stock price is up! So shut up and go back to work.