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.
Ten CEOs who need to leave
Posted Dec 19th 2006 4:31PM by Jon Ogg
Filed under: Management, Insiders, Yahoo! (YHOO), Dell (DELL), Wal-Mart (WMT), Amazon.com (AMZN), Home Depot (HD), XM Satellite Radio (XMSR), Sirius Satellite Radio (SIRI), Citigroup Inc. (C), Gap Inc (GPS), Eastman Kodak (EK), QUALCOMM Inc (QCOM)
Tags: Amazon, Bezos, CEO, Citigroup, Dell, Gap, Home Depot, Kodak, Lee Scott, Nardelli, Pressler, Qualcomm, Rollins, Semel, Sirius, Wal-Mart, XM' Karmazin, Yahoo!
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Reader Comments (Page 2 of 2)
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 @ 3:07AM
Someone Who Knows said...
You can add in the Dillard kids at Dillard's Department Stores. I thought they passed laws against employee abuse, but evidently not.
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.
12-22-2006 @ 3:54AM
Darren Brooks said...
Retail, Groceries, Automotive, Gas, Modeical, Banking....? For god sakes, if we ever find out Walmart is cooking the books, like Enron...we all better kiss it good bye. The ripple throughout the world economy would be catastrophic.
1-04-2007 @ 9:39PM
Christine said...
MOTOROLA CEO SHOULD GO!!!