I just read the transcript from the earnings call. Total ARR was down 1% in a growth market SM. “We are not satisfied with this result.” It has to be the understatement of the year. Go through the transcript, one excuse after another, leadership changes, and deal slippages. What about an incompetent CEO and CFO?
BOD, shame on, shame on you for letting this travesty continue.
As Warren Buffet once said “Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.”
Well, if TDC were a ship, it seems it's in need of a serious makeover, maybe a new captain and a fresh coat of paint !
But hey, even the Titanic had its moments of hope before things went south, right?
Maybe TDC just needs a bit of a miracle on the high seas to turn things around. Who knows, stranger things have happened at sea!
I fear TDC is stuck with the LT it has. Unless an internal candidate is found for CEO, an executive recruiter has to be hired, and they don't work cheap. Plus the Beav and his merry band of carpet baggers likely have big parachutes to pay for. Then you have to convince someone to take over as captain of the Titanic, and that's neither easy nor cheap (unless you make the same mistakes they made when hiring this bunch). Add in the costs of laying off another 1000+ FTEs (I assume that's inevitable over the next 12 months given current conditions), and the board will have to borrow $100M just to make the change, since cash on hand must be getting squeezed. And why do all that when you can just unload it to a PE firm for 0.25 on the dollar.
Face it folks, TDC is done. The self inflicted wounds are too severe to survive, the patient just needs a comfortable hospice to ride out their final days.
He's the most incompetent CEO of all CEO's. He belongs as an admin in the Teradata Cares program. What are his excuses this time around: More eyes on every deal? We slipped because we put all our efforts into marketing our products, the results of which take a bit of time? or simply, I do not know how to run this business. I snowballed my way into this organization, i wing it every day, most days i spend traveling the world to rack up miles, i cannot wait to get my parachute so i can take my incompetent self to help the destruction of another company. I mean, when will the board wake up!!!!
We all knew SM was not going to cut it in the role on the first day he opened his mouth. Now that reality has well and truly been realized by the market.
He needs to resign immediately. He should read the room. Exit stage right.
It’s a pure clown show. Lie after lie. Not sure how they are getting away with so many blatant misleading statements. RIF more people so you can say you are optimizing costs while not providing any meaningful product updates. I want that job and golden parachute. Sign me up!