Today’s Wall Street Journal included a story about the firing of Jack Griffin as CEO of Time, Inc., after just 6 month on the job. You can read the story here.
Among the reasons:
Griffin wanted his name on the masthead, so he demanded a separate page – costing the company $5 million a year. The article noted that this expenditure came at a time when the company had laid off hundreds of employees.
Griffin made demands that didn’t go over well, such as 7:30 AM meetings.
Well, I agree that 7:30 AM might not be friendly if you’ve got kids to send to school or even a semblance of a life. But that’s a revolutionary change.
I remember talking to a classmate from my MBA program, now heading a management team at a Fortune 500 company, back in the 1980s. She talked about calling 7 AM meetings with her team. I think she was a little proud of her power but she also genuinely believed this was the way things were one.
Of course we’re learning about these events through a reporter’s filter. But if the article is accurate, are we seeing real change … or are we listening to some whiners or hopefuls?
Sounds like the CEO is redecorating the living room while ignoring the fact the kitchen is on fire. There seems to an epidemic of this attitude-all you have to do is look at the antics in Washington, DC.