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I had high hopes for Pat, but I think the institutional investors have been getting to him.
by UncleOxidant 4y ago
I had high hopes for Pat, but I think the institutional investors have been getting to him.
- simoncion 4y agoPat did something similar at vmware. Froze hiring, promotion, raises, 401k matching, etc, etc. for a year, got himself an 80% pay raise for how well the company did, unfroze all that and fled to Intel. (The kicker is that vmware didn't compensate for the lost money and matching in the next evaluation cycle.) I'm shocked that it has taken him this long to nickle-and-dime Intel's remaining employees to keep his pockets lined.
- andromeduck 4y agoHow did VMware fare?
- simoncion 4y agoYou can read its 10-Ks and the various business news articles out there as well as I can. The company is still around. A new CEO was appointed after Pat left. The company is now in talks with Broadcom to be acquired by Broadcomn.
- reducesuffering 4y agoPat is ultimately just a high-paid employee. The board and investors own the company and have ultimate veto on what Pat does or he's fired. If Pat puts in a plan at the quarterly meeting to cut dividend, they can tell him no and to instead cut salaries.