Consultant, LA Jan 03 2015
Since Dov was fired in June, there have been an abnormally large amount of new executives with seven figure salaries “running” the manufacturing, dye houses, creative, store management, advertising, trend forecasting, knitting factories, etc. What’s actually been happening is that these executives have absolutely no experience or knowledge in any of these industries/fields and has as one Interim CEO once said to me, expects the company to “run on autopilot”. The truth is that Dov has been working to keep the from collapsing this entire time and his loyal employees are strong enough to “run on autopilot”, but for how long.
Every inflated executive and consultant salary and bonus cuts into the profits shareholders might attain. In just a short time, the headquarters has turned into something of a frat where executives hire friends and they all share in the pot of gold with absolutely no restrictions or reprimands. These people will run it to the ground.
Back in 1985, the board at Apple attempted to convince its founders to resign shortly after Apple went public. Steve Wozniack resigned but Steve Jobs refused, which lead to the board staging a coup to oust him. He left and bought a small company called Pixar. Meanwhile, Apple was run to the ground until a new board convinced Jobs to come back as a consultant, which resulted in iphones, ipods, tablets, and basically what we now know as Apple.