Anyone know the reasoning behind these new bogus CEO titles for David Nasson and Kourtney Gibson? They were already the heads of those departments, so what do they need CEO titles for?
7 replies (most recent on top)
Joke
Makes total sense that's what they did where T came from it's a copy and paste
Money is the only answer. TIAA has been known to sling around new titles to increase pay when otherwise a raise would not be permitted. It’s the same job with a new title and more pay. This is typically done at lower levels not the freaking EC!!!
They're not getting raises because of the title (we'd see it disclosed in May) and there is no change in legal entities. They did this exact thing 12 years ago. So it's as d-mb idea now as it was then. T and Roger aren't that different after all!
The official answer is to make them feel accountable as Nuveen does for their business line. Why you need a CEO title to be accountable, I'll never know.
Title inflation
CEO titles normally indicate leading an official business entity that align to the parent. One can assume that’s coming. One can assume it’s also related to our defense of the Morningstar lawsuits.
So no one will question when they get fat raises and the rest of you are splitting peas.