... and I'll talk about that in a minute
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Before that new post gets deleted, here's what our new CEO did to his previous company:
Hey USAA board
Did you see that Juan’s old company posted a $1.7b reserve strengthening hit? That means he seriously mismanaged his pricing and underwriting. No, it isn’t all “run away inflation”.
Did he disclose that or did you give him a buy out on his Everest Bonus, which probably wasn’t going to materialize? Isn’t it telling that their board is doing a make over of the executive team? You had one job…. Seriously. You pick a guy who tanked his own firm to lead USAA which is struggling to pull out of its own massive financial and compliance issues.
You do realize how it looks right? That you are paying one of your board buddies big bucks to run the very company that he oversaw as a board member. And as a board member he watched the LAST CEO failure with the Fed and OCC (and lose money) and let it all drag out for years, failing to act in a timely manner. You should all get legal counsel because you appear to have failed in your fiduciary responsibility. How can this guy lead with credibility? His first employee meeting was not that great. I don’t really think he’s up to leading us.
We are going to become a Harvard Review article…and not the good kind.
Guys,
It’s a tough role. Can’t keep everyone happy. But look at this way, if you were not happy with Wayne, let’s try this new person. Give it a chance
Just another empty doosh in a suit. Ready to get paid and then walk away. Wont benefit this place one bit.
He was much more well spoken in the CSNBC interview he and Wayne were featured in recently. He seemed nervous in the Town Hall but give him a break, who wouldn’t be nervous in that first meeting?
This about the most detailed background I could find on him and it took a bit of digging.
http://www.hartfordinfo.org/issues/documents/EconomicDevelopment/htfd_courant_060307.asp
Actually our new CEO is an over-achiever type. He rattled off a list of things he's done and does (the ironman stuff, etc.) and talks abt doing more stuff. My guess is he'll have a set of expectations and it'll take time to get his expectations adjusted-- downward. We'll have to work on him some. :)
There's nothing good left at USAA, it's time to jump off the sinking ship.
When it comes to those remote in different states (my Director/Manager lives in Hawaii, moved there in 2021, another on my team lives in North Dakota), do not be surprised if later this year, an announcement comes for 2026, those remote in other states have X amount of months to relocate to the nearest USAA office building, or be laid off.
Juan is going to double down on RTO, anyone thinking he’s going to change it back to 2 or 3 days in office, that would admit Wayne was wrong, and the BOD isn’t going to be ok with that. I’d expect his first big announcement will be 5 days RTO for all non member contact starting in the fall, or to be nice and show as caring, he’ll push it to Jan 5, 2026 to give people the time to make arrangements. Anyone thinking Juan is going to make a reversal in RTO, again that would prove Wayne was a tyrant, the BOD loves Wayne for doing their dirty work (layoffs, RTO, etc), so don’t want his image being shamed.
DEI is over, thank goodness.
Now that someone below mentioned DEI, is he a DEI hired CEO, just wondering. He could have changed his name to something like John Android or something like that.
Give Juan a chance. Remember how he addressed a DEI question in 2023. Essentially- how will you give us easy street vs. being the best?
He said, be the best in every room. People will see it. He's a merit guy.
However Herman Bulls Vice Chair is your DEI activist. Source of trades for Tamla and others. Past his terms and needs to go.
My understanding is that he worked for the government. He was not in the military.
New CEO is not prior military, correct?. He also is relatively new (4 years?) to the BOD, right? And, his vast experience is limited to the federal bureaucracy?
As in, he's partly responsible for the sh-t show the past few years and now they are throwing him into the deep end.
The new CEO could be JC himself, but if is not a Veteran, he has no business leading this company. More bullsh-t and degradation of a sinking ship. USAA is over and has been for some time now....
Ya’ll are a great welcome committee I see. Imagine it not even being your first day of work and you see this on the way to your new job. He is still human. Give the guy a chance, jeez. You’ve been complaining for 5 years - how about trying to life people up.
There have been numerous Mission Moment presenters who have inspired us, some even made us cry. The new CEO is just un-relatable and I would not be thrilled if I see him in the hallways that I would like to take a selfie with him.
Completely agree - Jesus Christ himself could be the CEO and you all would still find a reason to complain. You all need to shift perspective. Seek the wellness resources, a therapist could really help many of you.
It's odd that USAA employees degrade and demoralize every leader in the company, old and new, no matter what level. How can you put down a brand-new leader in their 1st introduction. The problem seems obvious, and it is not leadership.
How can I watch it I missed it
Alright folks, with the new CEO, I bet USAA will be in a deep slumber for the next few years or until we find a new one. zzzzzzz
Wayne was awful, but in comparison to this CEO, he seems much better. He seems like he cares more/more charismatic. Juan just…. Recited words and looked annoyed
Eh, seems ok.
Talked about collaboration alot, which is why im leaning towards full tome office
I miss the whole thing because of all the system issues I was having
Lackluster new CEO. My mind easily wanders away as he speaks, thinking about what I am going to eat for lunch is more interesting.