Thread regarding Advance Auto Parts Inc. layoffs

Reasons ... Get rid of the GOOD

T.G. comes from a 30 year career at Pepsi, where his most recent position was CEO of Frito-Lay North America. Unless the company plans to start selling spark plugs in vending machines it is hard to see how clearly this experience translates. In any case, it represents a pay increase for Greco whose total compensation at Pepsi in 2015 was $6.2 million. He also exercised options on 45,000 shares of Pepsi stock last year, realizing $1.7 million in value ....

Get RID of the Hard Working People in the Trenches Everyday, get rid of customer service .... But you ll probably be getting Pepsi back in the Stores now & see where ALL your Un-Employed Co- Workers money is going now ! The BEST Part Use to be the PEOPLE !

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| 1771 views | | 6 replies (last July 3, 2017) | Reply
Post ID: @OP+NY5mtpb

6 replies (most recent on top)

5cox: A year and a half is enough to make an improvement. He spent the first year learning about the business and "improving the culture" but not fixing the business. Now the company is in a meltdown, the culture change is just another failed initiative, and the hedge fund guy wants his money, so they are cutting costs to improve the margins for a sale.

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Post ID: @7kgf+NY5mtpb

I want to start by saying I am in no way defending TG, AAP, or the changes this took place. What I wanted to do is to is to ask all of you that are talking about the CEOs 2016 compensation to read the proxy for 2016. It states that he received 20 something million dollars in AAP stock shares because he would be forfeiting the same value of shares from Pepsi Co by joining AAP. Like it or not that's how it works at that level in every company and in every business. Let's give the man a chance to fix this broken company.

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Post ID: @5cox+NY5mtpb

"Because TG was brought in to help position the sale of AAP. End of story."

  • I agree, these cuts in the ranks of RVPs, DMs & CAMs are designed to do exactly that in my opinion.
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Post ID: @5mdq+NY5mtpb

A hedge fund guy is chairman of the board. He wants one thing, get the most money and get out.

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Post ID: @gpt+NY5mtpb

Because TG was brought in to help position the sale of AAP. End of story.

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Post ID: @lnc+NY5mtpb

22.8 million total comp in 2016. Why should he get such a package when he didn't perform. HR wanted to hold everyone accountable for the poor performance and lower annual raises. Why isn't executive management held to the same standard.

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Post ID: @gvi+NY5mtpb

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