...no link yet. Resigning effective immediately, citing differences with the board of directors (my sources tell me they don't like ****ty performance but that's unconfirmed at this point). Stock trading up 10% immediately on the news. Edit-- here's the article I was looking for but couldn't find before posting.
When Fortune runs an article with your face on the cover and it talks about how your strategy is failing, you know it might just be your time to "resign".
I have no idea, but if they did, who would want to own what's left? I would divest the underperforming businesses and attempt to shake free from the current vicious circle they've found themselves in. Who knows, that divestiture process could lead to an outright sale, once people know the company and/or its business lines are in play. If I were a shareholder, I'd much prefer that to a future of playing a loser's game of lower prices and heightened competition.
I'll see your and raise you a . What? You think another female is going to be hired to replace her? Realize that just because it's not PC or pleasant to hear, doesn't mean it's not the truth.
Eh... her story is pretty bad, but read this one from May, 2000 (as the bubble was bursting): Mattel Former CEO Gets $37 Million Severance Package Mattel Inc.has said it gave former Chief Executive Jill Barad a severance package worth more than $37 million after she resigned in the wake of huge losses at the world's largest toy maker. The El Segundo, Calif.-based company disclosed terms of the agreement, which could be worth considerably more if its depressed stock price rebounds, in an annual proxy statement filed on Friday with the Securities and Exchange Commission. Massive losses in the fourth quarter last year at The Learning Co., Mattel's educational and entertainment software unit, led to the resignation of Barad, 46, in February. Several other top executives also left the company. Earlier this month, the maker of Barbie dolls, Hot Wheels and Matchbox cars and Fisher-Price infant and preschool toys reported a smaller-than-expected net loss of $171.2 million, or 40 cents a share, for the first quarter of 2000, compared with a profit a year earlier of $3.1 million, or 1 cent a share. The company said its separation agreement with Barad included about $26.4 million -- five times her annual base salary plus bonuses -- the forgiveness of a $3 million home loan from 1994 and a $4.2 million loan from 1997 and the payment of $3.31 million in federal, state and Medicare tax liabilities she will incur because of the forgiveness of the home loan. Barad also will receive $708,989 a year in retirement benefits for life, as well as other fringes that include payment of a $5 million life insurance policy for life, health insurance, outplacement and financial counseling services, and payment of certain club memberships, the company said. Mattel said it also would temporarily continue to provide her with security, allow her to keep some office equipment, sell her company car to her for a ``nominal sum'' and sell her office artwork to her at prices that Mattel paid. Under the deal, Barad also became fully vested in all of her options to purchase 6,440,759 shares of Mattel common stock. Of the total, 4,082,946 have exercise prices of $42.31 or $44.87. The rest have prices ranging from $15.76 to $26.62. Mattel stock closed on Friday at $12.3125 a share. The company also reported that former President Ned Mansour, 51, received a package of $3.8 million -- three times his annual salary plus bonus payments -- and another $2 million from the company's long-term incentive plan. Mattel said it also declared Mansour, who resigned last month, fully vested in all of his options to buy 1.96 million shares, most of which are exercisable at $42.23 to $44.87 a share. More than 800,000 of the shares are exercisable at prices that range from $16.16 to $25.75 a share. -- droxford
HP taking on Compaq was one of her pet projects. I never thought the merger would work considering the size of the two company and the fact that Compaq was in the low margin commodity PC business. They never could compete with Dell (who is the model of efficiency). Maybe they should move towards the IBM model, sell more service and software and exit the low margin stuff.
I think whomever they feel is most capable will be the CEO. Why do you feel it's important that a man will replace her and take care of things? You don't think that sounds quite condescending to women? What are you, 80 years old?
I read that...it was funny, the article I read said the stock jumped up $2 plus in early trading...That's gotta suck...
... because you know men don't fail at running companies. I mean look at all those Dot Com companies, Enron, etc.
No, the way things are going that is the only thing they have that is making any money for them. They never really got the services thing going at all.
