Tech CEOs who need to go in 2008 (SYMC, AMD, BBND, CC, ALU, INTC)

Posted Dec 13th 2007 4:38PM by Jon Ogg
Filed under: Management, Competitive Strategy, Intel (INTC), Advanced Micro Dev (AMD), Circuit City Stores (CC), Alcatel-LucentADS (ALU), Symantec Corp (SYMC), Technology

2007 has been a wild year in the markets and there are many CEOs who aren't making the grade. 24/7 Wall St. has issued a brief list of some recognized CEOs in technology whose shareholders would likely be rewarded if the CEO was axed or stepped down, and who have a great shot at getting the ax in 2008. Most of these CEOs have a recent history of disappointment, and calling a CEO out can't be just over stock prices. Here's the full list, with a brief sentence and a link to the full explanations for each:

John Thompson of Symantec (NASDAQ: SYMC): This was a tough one, because I like him personally as a CEO and thought the diversification strategy was not as far out as Wall Street did. But Wall Street talks, here's the full piece on it.
Hector Ruiz of Advanced Micro Devices (NYSE: AMD): This was simple, and we think even though he wants to stay that he won't be allowed to. Intel Corp. (NASDAQ:INTC) isn't just winning, it's running away with the processor prize. Here's the full data why he's toast, even if he won't admit it.

BigBand Networks (NASDAQ: BBND)'s Amir Bassan-Eskenazi: BigBand has been one of the crummiest IPOs of 2007, and the management of the company has alienated everything that would yield any trust. Here's why the founder needs to go become a full-time golf hobbyist.
Circuit City (NYSE: CC)'s Philip Schoonover: Can we count a retailer as a tech? He figured out the best way to stop selling technology there. He's so bad he might even think about shutting down the web store and hire door-to-door salespeople. Here's why employees of Circuit City put this on the Circuit City employee intranet.
Alcatel-Lucent (NYSE: ALU) Patricia Russo: She isn't here because we needed to be an equal opportunity offender. She is only still there because she is American and there to keep CIFIUS at bay, since the French now own so many American patents from that merger. Alcatel needs a new token American.

We decided to run a GUIDELINES FOR CEOs TO GO because we do not measure share performance alone as the measurement. The CEOs have to prove their need to be called on to go. Out of 24/7 Wall St.'s CEO's TO GO FOR 2007, six of the eight that we called on to be fired were fired or finally forced out.

Many of these names routinely end up in the 24/7 Wall St. "10 Stocks Under $10" weekly newsletter.

Tags: bad bosses, bad management, BadBosses, BadManagement, CEOs, management, tech ceos, TechCeos

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Reader Comments (Page 1 of 1)

12-14-2007 @ 3:30PM

Larry Grika said...

The CEO of Walgreens should also be fired. He makes a fortune for himself, but has no concern for the shareholders or the price of the shares. WAG makes a lot of $$$ and gives hardly any to shareholders. In the past 7 years, the stock is considerably down. It is/was a terrible investment!

12-14-2007 @ 2:41PM

Jose said...

I have been saying this for years!
http://www.spymac.com/details/?2316383

12-14-2007 @ 3:47PM

Larry Grika said...

Yes, I said the above. In addition, when a public company makes so much $$$, the shareholders should somewhat share in that success. I hope that at January meeting of Walgreens, held in Chicago, shareholders attempt to remove CEO Chairman Jeffrey Rein and stop the dramatic downward slide of this once excellent company.

LGconbrio@aol.com

12-14-2007 @ 3:48PM

Larry Grika said...

( I haven't the slightest idea what a URL is.)

12-19-2007 @ 11:05PM

Mike Chaszeyka said...

Is there somebody in the business community that can explain why Patricia Russo continues as part of the adiministration of a technology company like Alcatel-Lucent? Her academic background is far from a technical one. It shows. Hewlet Packard replaced a hot shot female leader by a man familiar with the the nitty gritty of running of a computer company. Why is Lucent such a pariah? Is it destined to be a perpetual loser? Is there a board of directors who are awake?