|The Demise of Carly|
The Demise of Carly
Feb. 9th, 2005 @ 08:18 am
I think the problem is that she was such
a strong proponent of the merger that she became symbolic of the merger itself. As a result, when the merger didn't go swimmingly (I'm not saying it went poorly, just that it has clearly not been a home run), she is the one who has to go.
My favorite merger-related news item was the famous voicemail
. She was clearly willing to do anything in her power (as long as it was legal) to make that merger go through even though there was lots of resistance. When you've fought that hard for something that controversial, you unfortunately pay the price if it doesn't work out great for the shareholders (I believe that prior to the announcement that she was fired, the stock had dropped 50% since the time she became CEO?).
Anyway I wouldn't shed too many tears--she gets a $21 million severance package!
Perhaps I should have compared the stock price now to right before the merger rather than to when she took over. In that case it's about the same (zero change). Still, not a great showing.
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