Ten CEOs who need to leave
24/7 Wall St. has generated a list of public company CEOs where investors in the underlying companies would likely be better served by a new CEO. While this may seem aggressive, some of these aren't actually calling for the CEOs to be fired. The difficulty in calling for new new leadership is that in many cases there is an issue as to who would be the replacement candidate. How many Jack Welches and Lou Gerstners are there in the world? Taking the Six Sigma class and studying under them only goes so far.
This list is put in alphabetical order by company name. Calling a guy the No. 1 needing to go versus the No. 3 is too subjective, and as a reminder, some of these CEO change suggestions are nominal in actuality and execution. This list and brief note is a mere summary of the full article.
Amazon.com's (AMZN) Jeff Bezos. He doesn't need to go away entirely! He just needs to do a partial title change. But will anyone inside the company tell the emperor he is wearing no space suit?
Citigroup's (C) Chuck Prince. The prince calls for Draconian measures, and maybe the prince didn't mean just THIS Prince.
Dell's (DELL) Kevin Rollins. Rollins may survive since the stock has recovered. If the stock falls back again, Wall Street has already telegraphed a true Michael Dell Inc. would be better again.
Eastman Kodak's (EK) Antonio Perez. Maybe he's nice, but for heaven's sake get the restructuring over with and get some mojo. Bring in a digital media leader.
Gap Inc.'s (GPS) Paul Pressler. Every generation may have one, but his generation gap has helped the Gap to alienate customers and send them to competitors.
Home Depot's (HD) Bob Nardelli. Does anyone on Wall Street respect him? Just because he was one of the runners-up to run G.E. doesn't mean he shouldn't change his name to Richard.
Qualcomm's (QCOM) Paul Jacobs. He isn't being sent home yet, but his dad's shoes are proving very hard to fill.
Sirius Satellite Radio (SIRI) & XM Satellite Radio (XMSR). It is a dead heat in the race, and if two companies need to merge, it's these two. There can be only one.
Wal-Mart's (WMT) Lee Scott. The company is struggling under its own weight, and it needs some good PR. Getting rid of the Darth Vader of Corporate America and bringing in someone fun and likeable would be the best start.
Yahoo!'s (YHOO) Terry Semel. Yes, when you see him leave or forced out, Yahoo! holders should be happy.
A lot of these may be controversial, and there are plenty of other companies which might benefit from a new CEO. None of these attacks are personal and these are merely based on observation and analysis. The list could probably be 100 CEOss long.
Jon Ogg is a partner in 24/7 Wall St. LLC; He does not hold securities in the companies he covers. He also not been compensated to represent any of these companies in any light.
This list is put in alphabetical order by company name. Calling a guy the No. 1 needing to go versus the No. 3 is too subjective, and as a reminder, some of these CEO change suggestions are nominal in actuality and execution. This list and brief note is a mere summary of the full article.
Amazon.com's (AMZN) Jeff Bezos. He doesn't need to go away entirely! He just needs to do a partial title change. But will anyone inside the company tell the emperor he is wearing no space suit?
Citigroup's (C) Chuck Prince. The prince calls for Draconian measures, and maybe the prince didn't mean just THIS Prince.
Dell's (DELL) Kevin Rollins. Rollins may survive since the stock has recovered. If the stock falls back again, Wall Street has already telegraphed a true Michael Dell Inc. would be better again.
Eastman Kodak's (EK) Antonio Perez. Maybe he's nice, but for heaven's sake get the restructuring over with and get some mojo. Bring in a digital media leader.
Gap Inc.'s (GPS) Paul Pressler. Every generation may have one, but his generation gap has helped the Gap to alienate customers and send them to competitors.
Home Depot's (HD) Bob Nardelli. Does anyone on Wall Street respect him? Just because he was one of the runners-up to run G.E. doesn't mean he shouldn't change his name to Richard.
Qualcomm's (QCOM) Paul Jacobs. He isn't being sent home yet, but his dad's shoes are proving very hard to fill.
Sirius Satellite Radio (SIRI) & XM Satellite Radio (XMSR). It is a dead heat in the race, and if two companies need to merge, it's these two. There can be only one.
Wal-Mart's (WMT) Lee Scott. The company is struggling under its own weight, and it needs some good PR. Getting rid of the Darth Vader of Corporate America and bringing in someone fun and likeable would be the best start.
Yahoo!'s (YHOO) Terry Semel. Yes, when you see him leave or forced out, Yahoo! holders should be happy.
A lot of these may be controversial, and there are plenty of other companies which might benefit from a new CEO. None of these attacks are personal and these are merely based on observation and analysis. The list could probably be 100 CEOss long.
Jon Ogg is a partner in 24/7 Wall St. LLC; He does not hold securities in the companies he covers. He also not been compensated to represent any of these companies in any light.











Reader Comments (Page 1 of 2)
12-19-2006 @ 11:54PM
sam montalto said...
i would have to add ebay ceo meg whitman. who has killed the stock over the past two years.
12-20-2006 @ 12:33AM
r. noonan said...
Congratulations for jumping onto the regurgitation bandwagon. While it would probably be in the best interest of shareholders to replace as many as half of these CEO's, the only sin the rest have committed is to be at the wrong place at the wrong time. Singling them out ad nauseum without offering constructive insight as to what it is that they should be doing differently is armchair quarterbacking. Worse yet, it is armchair quarterbacking after the game, because 1001 other journalists and bloggers have already talked this thing into the ground. Oh, and by the way, you might want to do a little extra credit homework on Jack Welch before you go lauding him in public. He talked a good game, but his successor is the one who has actually stepped up to do the job.
12-20-2006 @ 2:32AM
sarah gilbert said...
I agree on Nardelli, Rollins and Semel. And I loved Lee Scott up until the whole Julie Roehm mess. I don't think I'd agree on Citigroup, though, and Jeff Bezos has me wrinkling my nose -- on one hand, I find him to be the slimiest shysterest of salesmen, but on the other hand, maybe that's perfect for his business. I haven't seen anything I can point to as major missteps with Bezos with the acception of overly youthful enthusiasm for a guy in his 40s!
12-20-2006 @ 7:16AM
Jack Schneider said...
It is not so much that Mr. Scott at Walmart has to go, Walmart has forget their roots taking layaway from the lower classes has hurt, not everybody has a bank account and access to credit. When was the last time the board at Walmart had lunch with somebody who make 20K a year?
12-21-2006 @ 8:31PM
Heather said...
Remember when Wal-Mart was "Buy American"? Even many of their greeting cards are made in China.
12-21-2006 @ 9:16PM
gasguy said...
Government bosses and oil company management that have eliminated service stations and are selling out to foreign groups that own large blocks of gas stations. within the next 5 years there will be no american owned gas facilities in the U S. I guess federal anti trust laws don't count with these people.
12-21-2006 @ 9:16PM
RODNEY HENDERER said...
I AGREE ON HOME DEPOT. BRINGING SOMEONE FROM A FACTORY TYPE INDUSTRY TO RETAIL IS STUPID.ONE THING HOME DEPOT WAS ALLWAYS KNOWN FOR WAS CUSTOMER SERVICE, AND WHEN BOB NARDELLI BECAME CEO ONE OF HIS FIRST THINGS TO DO WAS CUT EMPLOYEES AND THAT HURTS CUSTOMER SERVICE.IF SOMETHING IS WORKING,WHY CHANGE IT?I HAVE HAD TO HUNT SOMEONE DOWN TO GET HELP AND THIS ALSO HURTS THE EMPLOYEES TO,ESPECIALLY ONES WHO TAKE PRIDE IN HELPING PEOPLE GET THE SUPPLIES THEY NEED.IF PEOPLE DO NOT GET HELP,THEY GO SOMEPLACE ELSE AND I KNOW THIS TO BE TRUE AS I HAVE MY OWN BUSINESS AND USED TO GO TO HOME DEPOT FOR ALLMOST EVERYTHING.
12-21-2006 @ 9:24PM
Odrap said...
E. James Ferland;CEO of
E James Ferland;CEO of PSEG, Has got to go. He has been CEO for over 25yrs. His legacy is failure to close his payment centers,Union discrimination and finally a failed merger with EXCELON this year. Give him his undeserved golden parachute and put some new blood in executive positions. NEW EYES,NEW IDEAS.
12-21-2006 @ 9:46PM
jim said...
The WalMart guy doesn't deserve to be on this list. He's just the victim of a vicious union campaign. If Wal-Mart was unionized, you wouldn't hear a peep. How stupid can people be not to see this is just a cheap union attack.
12-21-2006 @ 10:22PM
Bill Jochimsen said...
Not just the President and CEO, but the whole board of directors of Pfizer Inc need to be replaced. In just seven short years what was once the best pharmaceutical company in the world has become just another daily me too grind. They ended the year by firing a major portion of their sales force, the same sales force named year in and year out the most informed in the industry. In a move that Dickens would have found particularly onerous they fired them less than one week before Christmas. For years they rewarded employees with worthless stock options. The only hope they have is to bring back Bill Steere and Karen Katen to take over the helm and get rid of these inept, disgusting, losers.
12-21-2006 @ 10:28PM
ron good said...
american business is selling out to foreign investors
pepsi just sold part of their pizza hut chain to arabs the new district manager towel head made the huts take out all their christmas decorations anti christian. so please support your local hometown pizza establishments and send the arabs packing
12-21-2006 @ 10:30PM
ron good said...
Pepsi ceos need to go
12-21-2006 @ 10:57PM
kede21 said...
Yes, get rid of the Walmart CEO; better yet get rid of Walmart.. They diminished the smalltown atmosphere where people knew each other; went to a real grocery store; or hardware store; or beauty shop - not some mega store where they will not let you layaway and then expect you to bag your own stuff. I agree with the other comment, Walmart has forgotten where they came from. Sam Walton is probably turning over in his grave.. Just go away Walmart - for some reason you think people want to hangout at your store 24 hrs a day and not attend church.. Go away.. Bring smalltown American back and the stores where people knew you by name and could answer your plumbing probably.. not some mega store where the clerk says "huh, I just work here, I don't know nothing.."
12-21-2006 @ 11:06PM
Amanda said...
How about one of the biggest losers? Not just in himself, but for his company. Joel F. Gemunder, of Omnicare, Inc.
12-21-2006 @ 11:17PM
Kevin Edwards said...
I agree on Walmsrt. When did it become such a smug, pushy, arrogant company? Even its vendors hate doing business with it. Is NOTHING made in America any more thanks to Walmart? They've destroyed employee morale as well as the face of retail in America. And someone PLEASE tell me how they have escaped being sewed as a monopoly! I refuse to shop there. I'd rather spend more than shop there.
12-22-2006 @ 1:03AM
Jane said...
Great book: Snakes In Suits, copywrite 2006. It's a book about the scary dudes and dudettes being allowed to rise up the ranks in the business climate of the "new" corporate America.
12-22-2006 @ 1:05AM
Jane said...
And I agree about the union smear of Walmart...
12-22-2006 @ 1:27AM
Stevie said...
Walmart is not as good as it use to be,take for example when butchers tried to unionize they took them out of stores now their meat is dry because it is cut packed on a diaper and shipped across the country.I quit buying beef from Walmart because of this practice.Just one example.
12-22-2006 @ 2:16AM
The Truth said...
Those of you who dislike Wal-Mart should take a close look at Target. It is simply a smaller Wal-Mart. Wal-Mart is openly aggressive, Target is a trifle smoother, but a corporate prick just the same. Bob Ulrich used Jerry Storch as his pit bull, then got rid of him.
Now, about Jack Welch; time has proven him to be a hollow, arrogant, hypocritical asshole. The result of a corporate culture where the managers have a mandate to get rid of 10% of their workers regardless of how they perform is fear and backstabbing. "Perceptions" are more valuable than actual work, and everyone is forced to write reams of garbage about their "accomplishments". Fuck Jack Welch and good riddance to him.
12-22-2006 @ 3:05AM
Lisa Keating said...
Forget shopping at Home Depot. Try Lowe's. This Corporation understands customer service and the importance of knowledgable employees. Oh, and you can actually find help on the sales floor.