Joseph M. Tucci
Chairman, President and Chief Executive Officer
Joe Tucci is Chairman of the Board of Directors, President and Chief Executive Officer of EMC Corporation. Tucci has been EMC's Chairman since January 2006 and President and CEO since January 2001, one year after he joined the company as President and Chief Operating Officer.
Headquartered in Hopkinton, Massachusetts, with more than 37,000 employees operating in more than 50 countries, EMC is the world's leading developer and provider of information infrastructure technology and solutions that enable organizations of all sizes to transform the way they compete and create value from their information. EMC reported revenues of $13.2 billion in 2007. Its current market capitalization places it among the 10 most valuable information technology product companies in the world.
Since his arrival at EMC, Tucci has led EMC through a period of dramatic revitalization, continued market share gains, and sustained double-digit growth. He has transformed EMC's business model from what was a near exclusive focus on high-end storage platforms to what is now the industry's most comprehensive portfolio of best-of-breed platforms, software, services, and solutions that enable organizations to implement information lifecycle management, aligning their IT infrastructure with their business based on the changing value of their information. Today, EMC operates with a balanced product portfolio in which software and services generate more than 50% of its annual revenues and hardware less than 50%. EMC has evolved with its market from an information management and storage company to a provider of open information infrastructure.
Over the past several years, Tucci has overseen the most aggressive new-product introduction cycles in the company's history, led EMC into multi-platform open software for storage, information, and content management, expanded the company's marketplace beyond the enterprise to commercial and small-medium businesses, broadened the company's industry alliances, and established new selling, partnership, and distribution channels.
Let’s see what else we know about Joe, that EMC does not list. His first bio read MBA from Columbia, and it was posted up there for years, the board at Columbia got wind of it, and took him to the carpet on it, it now read MS. Technically, he lied on his resume, or as the “fat man” himself would say, just an oversight.
CEO Mike Reutgers never wanted him, he was the pick of founder Dick Egan, Mike used to refer to him as “The Thug in a Suit”, and under his leadership, Joe missed three production quarters in a year, which never happened before, and then dismissed the problem, as “we are mad at ourselves for missing” he then proceeded to layoff about 3% of the company to compensate for his poor management, while declaring himself “doctor death”
He spent millions on home grown software that never worked. And ended up purchasing Legato to compensate, just ask anybody using Storage Scope what a winner that one was. He was 24 months late with DMX, which eventually led tot he largest layoff in company history, it was also over budget and never returned the original development costs.
Since taking control, the stock plummeted from 65 to 6, what a great short that was!! And only saw the sunny side of twenty on the IPO of VMWare which he also seems to have screwed up. He’s increased Op-X by some 400% with the hiring of some of the most overpaid and underperforming executives. Under Mike Ruetgers there was four senior managers, under Joe, there is some 19 and growing, twice the amount of Dell’s for a company half the size.
In that gaggle of losers, it includes Mark Lewis, an MBA dropout from Compaq, who single handily screwed up Compaq and HP storage, Carly had his ass on her radar before he jumped ship. Since joining EMC, he has had some six jobs in five years, and now was sent to California to run Documentum after EMC purchased a five million dollar home for him.
Louise O’Brien, formerly of Dell, she was part of Michael’s house cleaning party after he sent Kevin Rollins packing. She was colleague of Rollins at Bain, he brought her over with him to Dell, nobody knew what she did there, and that seems to continue to at EMC. She bought a million dollar Condo in Boston, comes to work at 10:00, goes home at 3:00, and can’t be found anytime in between. Before coming to EMC, she was consulting until Kevin made a call to Joe. At Dell it was reported she had clue regarding any business acumen.
And my favorite, Harry You. Former CEO of Turning Point. As CEO he lost hundreds of millions of dollars and was ousted. The latest project at EMC has him running around complaining about how printer paper is 16 cents a sheet.
Joe has been reported in Forbes as the fifth highest paid, underperforming CEO, with average income of 53 million annually including all compensation.
Almost correct, Harry You screwed up Bearing Point to the tune of some 300+ million dollars. The board threw him out after three unsuccessful years at the helm, whar he's doing in a technology company remains to be questioned.
As for Ms. O’Brien, she’s not longer listed as one of the executive V.P.’s she didn’t even last two years, most likely demoted, or pushed off into a corner. Another one of Joe’s brilliant hirings…………..
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OH I'M SORRY! YOU DO!
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WAY TO FUNNY FOR EARLY MORNING SUN!
SURE IS A NICE DAY OUT HERE. TRADES WINDS BLOWING BY EARLY THIS AFTERNOON.
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I have been a shareholder since 1996 and other than a couple of stock splits, have received very little from Trucci's chairmanship. He received many bonuses and rewards, but he does not pass any company rewards to the shareholders.
If you have owned the company since 1996, there have been many opportunities to sell for big profits. Believe me...I'm not lecturing you, but often times we fall in love with stocks. I first bought at $19 and it went to $26 in two or three weeks...I should have sold then.
If EMC and VMW can weather the economic storm, (and none of us know how long this will be be) the stock will recover...if not, we all have bigger things to worry about.
When you say "pass on company rewards to shareholders," do you mean dividends?