B&N Fires CEO

[MGlitch]

Let’s stop pretending BNs PR team has ever been really on top of the game in terms of how to talk to the press about even simple matters, much less firing another CEO.

I’m betting it was sexual harassment and he agreed to go without benefits if they kept things quiet.

[DuckieTigger]

Originally Posted by MGlitch

I’m betting it was sexual harassment and he agreed to go without benefits if they kept things quiet.

But there is no reason to remove him from the board of directors if a harassment case is covered up, is there?

[MGlitch]

Not covered up, just dealt with without making noise. Maybe the other party didn’t want the story out, just the offender gone. Or maybe that’s where the golden parachute money went.

Point being that just because the rest of the world got the memo on how to deal with short term sexual harassment doesn’t mean BN is following that script. They’re pretty much known for being bad at PR.

Look at how they covered Nook, or how every store closing is because of the landlord not wanting to renew the lease. They’r stuck on an outdated script and don’t show signs of trying to change.

[fjtorres]

Originally Posted by MGlitch

Not covered up, just dealt with without making noise. Maybe the other party didn’t want the story out, just the offender gone. Or maybe that’s where the golden parachute money went.

Point being that just because the rest of the world got the memo on how to deal with short term sexual harassment doesn’t mean BN is following that script. They’re pretty much known for being bad at PR.

Look at how they covered Nook, or how every store closing is because of the landlord not wanting to renew the lease. They’r stuck on an outdated script and don’t show signs of trying to change.

Could be.
But the same logic applies to alternate justifications.

Either way, Parneros is done in the executive job hunt circles...
...and their next CEO du jour will almost certainly come from inside--somebody already on the rolls--since what semi-competent exec from outside will willingly risk joining that circus? Everybody has a price but there may not be enough money left in the B&N line of credit to convince anybody to risk their entire career with that crew.

[cfrizz]

Originally Posted by astrangerhere

Because its possible that there is a history of issues and someone finally threatened to blow it open. Not so virtuous when you let it go for years and then fire him.

Exactly, Joe Paterno found that out the hard way.

Corporatations (ie Board of Directors) will ALWAYS look the other way until forced not to, then they scramble to cover their @ssess!

[MGlitch]

Originally Posted by fjtorres

Could be.
But the same logic applies to alternate justifications.

Either way, Parneros is done in the executive job hunt circles...
...and their next CEO du jour will almost certainly come from inside--somebody already on the rolls--since what semi-competent exec from outside will willingly risk joining that circus? Everybody has a price but there may not be enough money left in the B&N line of credit to convince anybody to risk their entire career with that crew.

I mean they spell out what he didn't do. And they took this action at 4:30 on July 3rd. Clearly trying to bury the story in the holiday press cycle.

But you're right, his days as a CEO are done. Lucky for him he's collected nearly 3 million all told from this gig, and presumably he had a plan from his former job.


As for B&N, who knows. They seem very invested in keeping the boat floating while at the same time totally uninterested in patching the holes that are causing it to sink. I can see them tossing away another million as a signing bonus, and someone biting since presumably it was through actions unbecoming of his position that Parneros was fired. And BN has shown with one of their recent CEOs that they're willing to say he just didn't fit what they wanted the company to become. So a new prospect would just have to behave and collect their paycheck. Should BN decide that new guy doesn't fit their future, well most other companies can look and see BNs future is bankruptcy.

[darryl]

Sometimes there's significant money to be made looting a ship as it is sinking. So long as you can ensure that when it does go you're not dragged down with it.

[fjtorres]

Originally Posted by darryl

Sometimes there's significant money to be made looting a ship as it is sinking. So long as you can ensure that when it does go you're not dragged down with it.

Wasn't there a movie about that?
Or was it a space station?

Ah, yes: POSEIDION ADVENTURE 2.