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| Saridakis |
Saridakis became chief executive of GSI marketing services division in May, just days after he quit as Gannett chief digital officer. He later cited disagreements over the slow pace of decision-making in explaining his exit.
EBay announced yesterday that it was acquiring GSI for $2.4 billion. Based in the Philadelphia suburb of King of Prussia, Pa., GSI assists more than 180 top brands and retailers with their websites, including Aéropostale, Timberland, Mattel, Zales and Major League Baseball, according to The Wall Street Journal.
With the deal, eBay gets an order-management, fulfillment and shipping business that competes directly with Amazon's own fulfillment offering for merchants. Fulfillment centers pack up orders for shipment. GSI will operate as a separate company for 2011, the WSJ says.
Amazing! Congrats Chris!!!
ReplyDeleteJim,
ReplyDeleteSaridakis has a great track record. His one company DoubleClick sells to Google. His next company, Pointroll sells to Gannett and now his third company sells to eBay. You wonder why he has a following? This guy is a winner. Everyone likes to be with a winner. For all of us stuck here at Gannett, we are working for a bunch of losers. Losers in so many ways.
Bravo Chris. Keep killing it.
While Dubow talks about "transformation" at Gannett, Saridakis is moving and shaking and making shit happen.
ReplyDeleteHow the hell could we not retain and make Saridakis CEO of Gannett and simultaneously throw out Martore and Dubow!
6:15 because your hero is an entrepreneur and NOT a CEO. He is a brilliant investor but he has no interest or ability to lead an organization. Nothing wrong with that because he has made millions but he has no interest in the day to day. Within 18 months he will be gone.
ReplyDeleteLet's see. You work at Pointroll in King of Prussia, PA. A "Gannett company". Down the block is GSI Commerce an eBay company that is being run by the former founder and CEO of Pointroll. Which way do you all think the resumes are flowing?
ReplyDeleteSomeone tell why anyone would stay at Pointroll? Seriously.
7:23a. Are you implying that entrepreneurs cannot be CEO's? Actually, Saridakis is great at both. He has been the most successful GMC member prior to joining Gannett and after leaving Gannett. He was also smart enough to get out of Gannett when he did.
ReplyDeleteThat was our future that walked out the door. I am not surprised to see Saridakis making out well. He could have waved his magic over our operations, and I have absolutely no question our company would have been saved.
ReplyDeleteDubow talks the talk. Saridakis walks the walk.
ReplyDelete@7:23 If we have a 'real' CEO and they have an entrepreneur, sure sounds like we could use an entrepreneur as our CEO! He'd have any number of staffers able to carry out day-to-day. You need someone with vision, heart and -- we can hope -- a pulse for journalism at the top. Not a suit with polysyllabic utterances.
ReplyDeleteCongratulations Chris!
Congrats Chris. Glad to have worked with you at Gannett Digital. People here can learn a few things from you.
ReplyDeleteThis is the reason why he is worth a few hundred million dollars. He gets it done, while others talk about transformation, this guy delivers.
I am sure if he were here and they gave him the keys to this car, he would be able to change the direction and we would be worth a lot more than $15 a share!!!
Let’s see, other people start companies and he buys in and then sells for millions. Good for him, he is a great entrepreneur but that doesn't equate to being a CEO. You sycophants are hilarious!He did NOTHING during his time at Gannett and then bailed with YOUR money!
ReplyDeleteSaridakis Alert!
ReplyDeleteHe was eating breakfast (actually oatmeal) at Corner Bakery in KOP this morning with one of his guys (not sure who the other person was, but he seemed important). A bunch of people congratulating him on the eBay acquisition of GSI Commerce. Saridakis made the time to speak with some of the his colleagues. Good guy. A really good guy!
11:38 Pointroll and Ripple6
ReplyDeleteI've got to admit that I am incredibly jealous that I don't have Saridakis' charisma and talents. His stay with GCI was far too brief, and he fled as soon as he saw corporate was just mouthing about the need to change, but dragging their feet on implementing any of it. I hope some contemporary historian is attracted to this story of the slow and steady collapse of a company that once dominated its field.
ReplyDeletePointroll is all abuzz about Saridakis and eBay. Congrats Chris, we miss you here. This place is falling apart!!!!
ReplyDeleteNo shit 1:16p. Pointroll is a mess with the arrogant Rob Gatto and Sarah Ripmaster. Place is the biggest joke around.
ReplyDeleteI can't wait until Gannett realizes that the numbers are total bullshit for the quarter. Very soon!!!
Btw, Saridakis is the MAN! He wouldn't stand for any of this crap that is going on here.
3:01 no he wouldn't. In fact when he didn't like things he jsut took his ball and went home. He did NOTHING while he was at the CP. A clever investor; no dount. A leader: a not really. But continue to rain false praise on his head.
ReplyDeleteI think those who make disparaging comments about Saridakis refuse to accept one fact, Saridakis alone couldn't change this place. Gannett has an entrenched group of senior executives and a board that wouldn't dain get their hands dirty by paying attention. Saridakis was one man against many and he was very clear about why he left. GCI management wouldn't act, wouldn't move, wouldn't make the kinds of changes Saridakis advocated.
ReplyDeleteStop trying to kill this guy's reputation, its so silly because he continues to win and win big. Don't you wish Gannett was generating this kind of excitement? Come on, I know you do. No sense being a hater, that man has got the golden touch. The board didn't give him the reins when they should have and that has clearly been our loss, we'll just never know how big a loss. It's torturous to think of what MIGHT have been, sheer agony.
7:05 you miss the point. He is a tremendous investor but you can't point to anything he created or introduced. He did NOTHING at Gannett. As long as you and your pals continue to post what a great leader he is, yada, yada, yada, the tellers of truth have to challenge your posts. He knows how to invest, that is all.
ReplyDeleteThe other dirty little secret at the CP was when he did work here no one ever saw him. He literally phoned it in from Wilmington. Sorry if the truth hurts. If he worked in USCP and hadn't sent an FU email when he left you'd all be crucifying him.
ReplyDeleteAt stock's close today, Gannett's entire market vale was $3.74 billion. Revenge is best served digitally, eh?
ReplyDeleteI agree with 7:05. I also had the pleasure to work in digital with Chris. I know that he wanted to make changes but was overruled time and time again from the rest of the GMC. Chris couldn't do it alone and that is why he was smart enough to leave and find a company that would allow him to make smart decisions required for success.
ReplyDeleteCan the Saridakis haters point to gleaming successes that Williams, Donaghy, Lundquist and Resnik have produced? Enough said.
ReplyDeleteBefore we declare Saridakis a saint, let's consider the fact that he -- like Gracia and Dumbow -- made a lot of money during his time at Gannett and didn't spread much of it around to the little guys. He is, no doubt, very smart, and he may be a decent guy. But he's also another rich fat cat willing to make millions while those who work for him suffer. Case in point, he has no problem selling his companies for a profit with no real idea what negatives could befall his staff when he leaves.
ReplyDeleteYes, this is how the game is played, but Dubow is constantly ridiculed for playing the same game and amassing personal wealth while those below him suffer. While Saradakis seems much smarter, and more deserving of the financial rewards, every move he makes is looking out for No. 1.
You can argue that Dubow is also a very savvy businessman. After all, not just everyone can get a 100% raise while leading a company that has seen continuously declining revenue for more than a year. In essence, Dubow is making money off a product that is outdated and of questionable quality. Saradakis is making his money selling products that actually have some value.
None can do anything successful at Gannett. The culture built over the last 50 years makes change impossible. CEO and the rest are smart to rape what the can from this company while there is still something left to rape.
ReplyDelete3:05a. I am someone who has worked with Saridakis and I believe you are wrong. The reason why Saridakis has so many fans is because he has built exciting companies, hired thousands and made scores of employees millions of dollars at his previous companies.
ReplyDeleteI know Chris well and I have personally done very well working for him. I am truly grateful. He is also someone who is very philanthropic. You would never know how much he is worth by the way he acts and conducts himself. A fairly humble guy and a true people person. Something rare to see from a Gannett Executive.
After he left Gannett, I spoke with him about his time there and he was very candid. He basically said, neither the board nor the executive management team is willing to change. Most of them are a few years away from retirement and are coasting into retirement. He has no interest in working with a leadership team when none of their goals are not aligned.
Too bad for us, he is a very smart guy and has basically created incredible value for many companies. He is also a savvy investor to boot (as many have already mentioned here). I just wish he was still here and truly "transforming" this company because I know we would all win.
Correction to 8:15a
ReplyDeleteShould read "when their goals are not aligned"
8:15 -- 3:05 here. Thanks for your insightful comments. It helps to hear from someone who knows Saridakis personally. I certainly have more respect for his business acumen than I do that of Dubow and company. If he is also very philanthropic in his personal life, then he sounds like one of the good guys.
ReplyDeleteThat said, I don't think we can lose sight of the fact that when you sell a company for massive personal gain, you are essentially leaving your employees twisting in the wind. They might be fine ... or they might get screwed, like the PointRoll folks who now work for GCI. Of course, a businessman has no obligation to take care of his employee, but when you have amassed so much money that you don't need anymore for the rest of your life, I would think it would be a consideration. After all, you couldn't have done it without them as a group.
I just think it would be nice to see some loyalty and stability in American business as opposed to the buy-and-sell mentality that seems to dominate corporate America.
Thanks again for your post!