Latest news has the CSC board have found 3 frontrunners to replace Laphen. All outsiders. They expect an announcement by mid Feb. Who would want hs job? Jack Sparrow and the sinking ship? Whomever it is, they have a heck of a job in turning this massive ship right-side up.
Well if the new CEO is "Chainsaw Al." I am sure I am not going to like it.
Lets hope the change comes sooner rather than later. It would be good to start 2012 without the Laphen doppelganger.
Let me (try to)be fair to Laphen: 1. If the housing crash had not occurred (recession killing off commercial prospects). 2. If Europe had not had it own problems (killing off MSS prospects). 3. If the federal debt had not precipitated the Republican effort to shutdown the government (killing off 2012 contract awards).
Laphen might me leaving with CSC stock price in the 50's or even low 60's and he would be lauded as the man who saved CSC. But all the "If the X had not's" did happen and CSC is bouncing along the bottom.
Ironically, the new CEO may not be able to do much in 2012. But if CSC stock recovers in 2012 or 2013 with the new CEO doing little, he will be hailed as the man (or woman) who saved CSC. And it might actually be the initiatives Laphen undertook finally bearing fruit.
Well, realistically the world isn't perfect. Besides, a reputable CEO can weather such storms and still able to lead a company to profitability.
To just give you an example, take the retailers. They are all suffering from our lackluster economy. High unemployment and uncertainty are still creating cautious sentiment to consumers. You would expect poor performance from retailers. Well, this would be true except for MACY's.
MACY's is your typical "marginal-priced" retailer selling to all age groups. No big deal, right? Yet, MACY's recently caught the eye of financial analysts which rated MACY's as a "BUY" and added it to their portfolio. So what did they do?
CNBC Business reported that MACY's management refocused their efforts on the business and invested on their employees.
If you think about it, CSC management did the opposite and look what happened.
Wow. It almost sounds like you like Laphen. However, I'm not an expert in corporate management but I would assume as a CEO, Chairman and/ or president of a company that you could be out front of these major issues and plan accordingly. Another company I follow, CACI, might not be perfect, but has won many contracts within the public sector and had a very profitable 2011. BTW, their CEO is an ex- CSCer. Go figure.