Why is the board so complacent. This leadership team seems to keep fumbling the ball…over and over and over. Purple this and purple that will not impress investors.
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Board of directors are nothing except to pay people to go along with the head and get a nice paycheck. Notice from the 2008/2009 or even the Theranos scam not one BoD member was ever called to account. They are meaningless.
This is what you get when the CEO is also the Chairman of the Board. There’s no real accountability. The executive team can mess up and no one calls them out. The board is basically just a group of yes-men who go along with whatever the Chairman (in this case, Bill Rogers) wants. It’s always better to have a separate, independent Chairman who isn’t part of the executive team.
Ah, this is an easy answer. The board members are being paid much more than you are to turn a blind eye to management's incompetence. As per Google they're being paid an average that exceeds $164k per year to do nothing. Literally nothing. Just let Bill destroy the place and collect your check for as long as it lasts. You can find all of the details on the "investor relations" page for Truist. You'll just need to dig for it a little bit.They don't want to make it TOO easy to find.
This question has been asked many times over the past few years. Surely there is somebody out there who is more capable than the current CEO and his cast of clowns