The Boeing CEO is out. Time for Chuckles to depart. He wrecked the company's culture much like what happened at Boeing. Nothing but presenting good figures for the quarter matches. This needs to stop.
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Need an activist to join the board to fire Narcissistic Chuckie
Activist investors get involved with under performing companies to squeeze far more out of them. That's why they're known as "corporate raiders" and "asset strippers." Doing 5,000 layoffs each year is far too small to make the changes Cisco needs to make and if you get your wish a real narcissist will show you how it's done.
Need an activist to join the board to fire Narcissistic Chuckie
He's[Cisco] milked theinnovation[acquisitions] of the 90s as far ashe[it] can.
FTFY.
Chuck took the CEO role late in the game in 2015. He performed the expected rituals and brought the stock price to match the highest price it had been at since 2000 in two years and double the price from when he took over in four. That the price is still over $50 today at the moment I just checked it says the tu-d has been polished to the point that it's the envy of every optical telescope maker ever.
Ha Ha If Boeing plane crashes, people die --> CEO out
Cisco boxes keep crashing all the time , which means more upgrade, more license hence more money --> CEO keeps getting pay rise
If one of the richest companies in the world won’t let hard working employees have free fruit, cookies and soda whilst they work then something is fu---d up real bad.
The comment about the inability of leadership to find new growth areas by understanding how to apply tech solutions to customer requirements is 100% spot on. Understanding the customer went out shortly after MM arrived. All you have to do is look at the ridiculous CX services portfolio. Or CX “use” case adoption motions being driven by customer success. None of it reflects an understanding of customer needs. Only a custom SOW does that and then the problem is lack of expertise to deliver because tech talent was replaced with customer success resources who are just spinning numbers in a console so leadership looks less pathetic. On top of all this travel is restricted further widening the gap with customers. Instead of hiring Elton John fund a travel budget.
In summary, just like Boeing this is what happens when you hire greedy ineffective leadership.
Too late , I was LR'd. Can not save my a*s !
Long live Chuckie lets down together.
The tech world has passed Cisco by and is accelerating away.
It didn't have to be this way, but the inability of senior leadership to understand customer business problems and utilize innovative technology to solve them prevented the company from finding the next growth wave after routing and switching.
The Splunk acquisition is just Chuck's attempt to provide an exit for himself. He's milked the innovation of the 90s as far as he can. He's not looking to stay on much longer.
...as internal R&D is too expensive.
I can point to many projects on high end programs which took a year to deliver on each month allocated in the original schedule, and even years down the road still couldn't pass the quality release gate. Price is not the independent variable.
He wrecked the company's culture much like what happened at Boeing.
Actually both CEOs were brought in to try to fix things because the previous CEOs failed so badly that what was left may never be recoverable. Sure, get rid of Chuck. Get rid of all your software engineers while your at it - the good ones will be better off. Now you have to figure out how to hire competent people who will sacrifice their career on the alter of bug fixing.
Cisco's culture slumped when the stock started falling from $82 and died outright when the first layoffs in 2001 made it clear it was never coming back. The parking lot emptying out more than 6 hours earlier was "the clue."
Nothing but presenting good figures for the quarter matches. This needs to stop.
Yes. We must start reporting bad figures every quarter. That will ultimately cure everything.
It still has to be the coffee. They must be putting stupid in the coffee.
Agree on managed decline. It's all about squeezing quarterly gains, keeping stock prices high through buy backs, growing via acquisitions, with all the complexity they bring, as internal R&D is too expensive. It's sc--w the future to make the quarterly numbers, get the exec bonuses. Any exec who did differently would be kicked out soon enough.
“Managed decline” seems like an apt description. They want to slowly dismantle the bridge, instead of waiting for a cargo ship to hit it and take it instantly down.
Cisco's business model is "managed decline"; a completely different scenario and leadership requirement.
Chuckario needs to gtfo