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"and I take personal responsibility for that." As usual, no accountability for it. Just responsibility. I take it boards are incapable at holding leaders accou
by eganist 4y ago
"and I take personal responsibility for that."
As usual, no accountability for it. Just responsibility. I take it boards are incapable at holding leaders accountable for bad decisioning?
- deleted 4y ago[deleted]
- vrc 4y agoBoards see this as good “decisioning”. Decisions are made by proportional controllers — money cheap, hire and grow, money expensive, fire and slow. So execs are being very prudent here, according to investors.
- eganist 4y agoYeah that's what breaks my heart. It's gratuitously meaningless language designed to soften the human blow even though everyone who doesn't rely on Salesforce employment for a paycheck ends up benefiting. So there's no check on over-hiring and then dumping once convenient.
- fatnoah 4y agoThis always gets me. Executive "responsibility" in cases like this is ballooning wealth as a result of the too-rapid growth, and then a further increase when the stock pops as a result of the layoff announcement. A stock gain of currently $2.71/share means Benioff is almost $71 million richer (in unrealized gains).
- MaxHoppersGhost 4y agoWould be great to see a CEO’s performance plan cut (options taken away or something) rather than this crocodile tear act we always see. In some industries CEOs take paycuts to keep folks employed but you don’t see that in tech. The “responsibility” is all fake.