How long will shareholders tolerate us not growing ? It’s been a decade. We are doing good but we need to do GREAT. CEO?
8 replies (most recent on top)
Before GK took over a decade ago, NetApp became a $1B company, then $3B and eventually $6B, which is a very tough thing to do, but the founding exec team was able to do it.
GK took over the reigns at $6B, and a decade later, NetApp is still stuck as a $6B company.
Every year, it's either a terrible acquisition (e.g. buying SolidFire instead of Nutanix), deciding to go to war with HCI against Cisco, thus alienating our partner community, over-rotating to cloud and buying a bunch of random cloud companies only to ki-l/sell them off in a firesale, sending their top AEs/SEs over to Pure in order to rely on inexpensive tele-based commercial reps straight out of college operating remotely..
Now, trying to push a tu-d in ASA, trying to copy Pure of 10 years ago mistakenly thinking Pure was successful because they had a box that could only do Block..Pure did it because they recruited NetApp's top players with huge salaries and they were selling a Flash array.. if they had sold an All NAS or Object Flash array instead, they still would have kicked NetApp's a-s...
So now NetApp is hiring rejects from Pure that aren't working out over there and hoping they can create a box like the one they had 10 years ago..
When you do DEI at the top and hire top execs because of their accents and skin color, instead of the best person for the job, that's what you get..until they're gone, they'll be stuck at $6B forever.
The same way NetApp has layoffs every couple months in the rank and file, at some point, you figure the board would demand the same happen with the top leadership.
GK knows how to keep the stock performing inline with nasdaq or just a little better. This is financial innovation. All other technical innovation doesnt count.. With DEI out, now you see an automatic productivity jump.
Hire back Neil McGowan - once he is done losing made up legal cases and pleasuring himself over himself he could come back 😂🤣😅
Stock’s growth is same as nasdaq over ten years. Means we are average.
What innovations have we made in the last five years? What innovations are in the pipeline?
Idk what some of you are smoking. Lots of innovation and realignment is happening at netapp. Stock on a strong uptrend. Nothing bad is in the forecast. Future looks good longterm. If you’re a ‘i like to keep my jobs 1 year, my stocks 1 month, and I need money now’ type of guy, stop whining and leave already.
Netapp is now running merely on momentum. At some point, that giant ship will slow and stop.
Besides, one can't grow a company when one keeps laying people off, every quarter like clockwork.
Anyone who can't see this has been asleep.
The president of the company is worthless. All he does is fly around the world and post pics on Instagram and LinkedIn. No strategy and just uses buzz words.
Our stock growth over the last ten years is roughly inline with that of Pure Storage and Nasdaq.
GK’s failure, sleeping at the wheel, is that Pure Storage’s growth is at our expense. NetApp management is terrible, and caused us to lose much to Pure Storage - but the shareholders won’t rock the boat over our growth being the same as everyone else’s.