State Farm Insurance's CEO, Michael Tipsord, has 620 employee ratings and a score of 61/100, placing him in the bottom 25% of similar size companies on Comparably with 10,000+ Employees.
How does this guy keep his job? Worse ever. Will SF survive?
15 replies (most recent on top)
Going public would intensify what is already going on. Because then it is really all about the numbers.. look at Allstate crapshow.
It could survive under the right circumstances.
@31zk-i am not sure how to explain this to you ? Tipsord would LOVE to go public. His 10 million salary and bonus would be replaced with a 100 million in stock options on day 1. At that point he would care less if he got voted out. The executives below him would get somewhere in the neighborhood of 15-20 million for doing the same exact job. Employees all get zip for going public.
@1kqh+1aPFhwZ7 If that happened that is the last possible CEO cash grab..
On the flip side we have had years where voters and policy holders could view our history and vote his stupid a-s out.
Going public if I was tippy would be the last thing I want, plus it’s usually bad luck when ceos go public on already established companies most do get voted.
@1kqh. He can have his millions. I would rather have a set than money. Life sure as heck isn't about money and toys. It's about quality and values. It's about how you can help others and it sure as heck isn't all about me. EXECS are id--ts with money. The only difference between them and poor is they have the money to sweep their dirt under the carpet. They have felons in their house, substance abuse, and strange lifestyles. Believe me. I've seen it. Life is easier once your out and away from their weirdness.
You do realize if SF went public the top officers would all get massive stock assignments. The CEO would get over a 100 million. Think that would hurt him?
I left SF 5 years ago..has there been any changes? How's Ed and the boys?
The only reason SF has not gone to a stock held company is that the current leadership and board would immediatly be fired for incompetence...along as mutual company the status quo keeps control.
Thanks for the levity. It is humorous to read statements about the Board and CEO. Reminds me of listening to young children describe surgery. Too funny.
The Board was handpicked by Rust and Tipsord. The were chosen for being good ol' country club boys and girls who make no waves. As long as they are paid, and wined and dined in Chicago at several meetings per year, they will keep quiet. Whatever Tipsord and co. tell the board is gospel.
It would take a policyholder revolt to lead to changes on the board and in the C Suite. The problem is no one policyholder has enough of a stake to care to lead such an effort.
If you don't like State Farm the best way to express your disapproval is to remove your business from them and find another employer.
He's got a small cult following that will keep him in place. Buckle up.
Dont be silly SF will survive. Why look at Sears...Oops.
I wonder how customers would react to knowing SF treats employees like 3rd world workers.That SF treats employees like 100 years ago...
Bet somebody would do something about Tipsord then...I like 60 minutes or Fox news to cover it.
I imagine the conversation going something like this...
Michael, thanks for attending this emergency meeting with the board. We'd like to thank you for your years of service but we feel a change is necessary and have decided to go another direction. You will be escorted by an HR rep and security to clear out your desk by 1pm. Your services are no longer required. Ok bye-bye...
If the board won't do anything about MLT then they need to go too.