"She knows where all the bodies are buried. The next few years are going to be rough
(if the company even survives) and those
in charge of picking CEOs won't want a newbie looking under rocks."
(if the company even survives) and those
in charge of picking CEOs won't want a newbie looking under rocks."
-- Anonymous@5:45 p.m., on speculation today over President and Chief Operating Officer Gracia Martore's chances of succeeding CEO Craig Dubow, as his fifth anniversary draws closer.
No way. I don't believe it. What Wall Street analyst or shareholder would be happy about a finance person taking over for a media company? Especially when their current products are becoming obsolete. This company needs a leader, not a bean counter. In all seriousness, what does this company look like when a CFO becomes a CEO? Expense management vs. Revenue growth.
ReplyDeleteI personally like Gracia Martore, but as a CEO, we need a true leader. An innovator and a visionary.
I believe Dubow's background is in tv advertising, not print journalism or even television news. Predecessor CEO McCorkindale was an attorney with no journalism OR advertising experience.
ReplyDeleteHow much worse could we do with a bean counter?
There's precedent in this type of move, however: Doug McCorkindale was a former Gannett chief financial officer when he was named CEO in 2000.
ReplyDeleteUnfortunately Jim, precedent isn't always prudent. Especially now when the newspaper and broadcast business models are broken. The internet has killed this industry and worse off, mobile devices will change and "transform" how someone consumes media. The old guard will not be able to adap to this change. A CFO working for a newspaper company for 25 years is not what I would call qualified to lead this company "forward".
ReplyDelete3:51 pm: Just to clarify, I'm not rooting for a CFO as the next CEO. I'm just saying that it's happened before.
ReplyDeleteI agree with Anon 3:51. If this company wants to go backward, then they will make the CFO a CEO. The future of Gannett is not in firing people, furloughing employees or cutting back on toilet paper and soap!!!
ReplyDeleteI agree with those who say a person (probably an outsider) with true vision for a media company is what GCI needs. But that presumes that those in charge actually want GCI to succeed as a media company. I am afraid that those in charge just want someone who can continue to squeeze maximum profits for top executives and Wall Street investors for another couple of years, after which the skeletal remains of a once-proud company will be left for dust.
ReplyDelete