Is Cruz Gone? [Rumour]
Aug 27, 2019, 4:00 am
#61
FlyerTalk Evangelist
Join Date: Feb 2004
Location: London
Programs: BA, VS, HH, IHG, MB, MR
Posts: 26,871
I would not make such a comment. To me, the best thing happened was Theresa May resigned. I am much happier than earlier this year.
I would like to point out your comment is based on your own assessment and opinion and does not represent many of other people. As a veteran on this forum you should know better not to make any topic political. Thank you.
I would like to point out your comment is based on your own assessment and opinion and does not represent many of other people. As a veteran on this forum you should know better not to make any topic political. Thank you.
Happy to replace Theresa May with Arsene Wenger ....!
Aug 27, 2019, 4:01 am
#62
Ambassador: Emirates Airlines
Join Date: Sep 2004
Location: Manchester, UK
Posts: 18,613
Base is now £1.2m isn't it? You'd be looking at a couple of years of that and then you're into discussions on, for example, whether part of any long-term bonus targets should be paid given that IAG is (forcibly) taking away his ability to earn thoses bonuses. Probably £4m-£5m in total.
If I do a poor job, I'm warned. And if my performance doesn't improve, then the steps are taken to remove me from the company.
Aug 27, 2019, 4:10 am
#63
Join Date: Dec 2016
Programs: BAEC GGL/CR; Hilton Diamond; Mucci des Puccis
Posts: 5,609
Why does anyone think BA would change a very successful commercial strategy - with or without Cruz?
Aug 27, 2019, 4:11 am
#64
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That's because you didn't negotiate a contract when you joined which gave you a two year notice period plus the right to unvested parts of bonus schemes. When we had a 'he goes or we go' staff revolt at my little division of the bank back in 2000, the guy walked away with £10m because of the way he had negotiated his contract.
Aug 27, 2019, 4:17 am
#65
Join Date: Oct 2013
Programs: BA Gold, VS Gold, IHG Platinum, Hilton Gold, Hertz Presidents Circle.
Posts: 1,448
Aug 27, 2019, 4:20 am
#66
Ambassador: Emirates Airlines
Join Date: Sep 2004
Location: Manchester, UK
Posts: 18,613
That's because you didn't negotiate a contract when you joined which gave you a two year notice period plus the right to unvested parts of bonus schemes. When we had a 'he goes or we go' staff revolt at my little division of the bank back in 2000, the guy walked away with £10m because of the way he had negotiated his contract.
My contract has a "redundancy" section with an agreed figure. But if I constantly p*ssed off my customers / clients, I'd be dismissed rather than made redundant.
Aug 27, 2019, 4:26 am
#68
FlyerTalk Evangelist
Join Date: Dec 2004
Programs: CX Green, QF Platinum, BAEC Silver, Hyatt Glob
Posts: 10,780
Has he really been that bad though? Yes there have been the IT snafus but when you look at the core experience, there seems to have actually been investment where there was no movement for years:
- Catering improvements in all classes except euro traveller
- Amenity improvements for all classes
- New J class
- New lounge designs in outports
- dare I say it, LHR lounge catering is somewhat improved from what I remember about 5 years ago
- Catering improvements in all classes except euro traveller
- Amenity improvements for all classes
- New J class
- New lounge designs in outports
- dare I say it, LHR lounge catering is somewhat improved from what I remember about 5 years ago
Aug 27, 2019, 4:28 am
#69
Join Date: Aug 2012
Posts: 2,676
I've been through a number of PIP processes (the initiator not the receiver!) and the person will always come and ask for a payout and they'll always have a 'ah - but you didn't do this stage of the process right' argument as to why they deserve extra cash regardless of how meticulous you are. Because if they are right and you haven't followed procedure then you have to restart the whole thing or find yourself paying out anyway at a tribunal.
And can you imagine the share holder reaction if it was discovered that the CEO was put through some kind of PIP plan rather than being pushed out of the door? The only way to achieve a 'leave now' exit for a CEO is to pay them off as per their contract (and probably above their contract if you don't want them immediately heading off to a competitor or some such).
Of course - if Cruz is walking to a competitor and not being pushed out - then the package might look very different.
Aug 27, 2019, 4:33 am
#70
Suspended
Join Date: Jul 2007
Posts: 4,477
Plus, leaking customer data and credit card details and sending customer's email to strangers, are hardly a [[i]successful] strategy. Some would also argue by refusing giving pilot £5 million and cause £42 million in strikes (now this likely to increase due to the email fiasco) is very [[i]unsuccessful].
BA's 100 celebration should be glamorous. But Cruz's strategy since his reign had made BA cheap, and the unfortunate hack and this recent strike negotiations just made BA's celebration rather disastrous, or at least subdued. Pride and inspirational are long gone in BA's DNA. Changes are needed for the long term.
Aug 27, 2019, 4:33 am
#71
Join Date: Apr 2012
Location: LON
Programs: Mucci, BAEC, Eurostar
Posts: 3,293
He negotiates a golden parachute, which his contract says he gets if he's fired before the end of his term. Say he has a 5-year contract with a bonus at the end if he meets his objectives (mostly financial I would expect) but WW uses him as a scapegoat to appease the pilots and fires him in his 3rd year. AC didn't have time to prove he could do it, and as a result is entitled to something to make up for the lack of opportunity to reach said objectives.
Plus early termination, probably.
Plus early termination, probably.
Aug 27, 2019, 4:38 am
#72
Join Date: Sep 2013
Programs: BAEC Gold, EK Skywards (enhanced Blue !), Oman Air Sindbad Gold
Posts: 6,399
Has he really been that bad though? Yes there have been the IT snafus but when you look at the core experience, there seems to have actually been investment where there was no movement for years:
- Catering improvements in all classes except euro traveller
- Amenity improvements for all classes
- New J class
- New lounge designs in outports
- dare I say it, LHR lounge catering is somewhat improved from what I remember about 5 years ago
- Catering improvements in all classes except euro traveller
- Amenity improvements for all classes
- New J class
- New lounge designs in outports
- dare I say it, LHR lounge catering is somewhat improved from what I remember about 5 years ago
But do these changes not fall into one of three basic categories ...... ?
1. The much-needed reversal of downgrades that should never have happened to begin with
2. Routine upgrades to lounges / catering which most global airlines undertake as part of an ongoing programme
3. A long overdue renewal of a sub-par J class product
Aug 27, 2019, 4:40 am
#73
Join Date: May 2014
Posts: 7,237
Has he really been that bad though? Yes there have been the IT snafus but when you look at the core experience, there seems to have actually been investment where there was no movement for years:
- Catering improvements in all classes except euro traveller
- Amenity improvements for all classes
- New J class
- New lounge designs in outports
- dare I say it, LHR lounge catering is somewhat improved from what I remember about 5 years ago
- Catering improvements in all classes except euro traveller
- Amenity improvements for all classes
- New J class
- New lounge designs in outports
- dare I say it, LHR lounge catering is somewhat improved from what I remember about 5 years ago
compare that with creating AJB, SJB, a very successful bmi integration, return to profitability for LGW and short haul... all things achieved by the chaps before him.
I still think that Nick Swift would’ve done a better job than Alex.
Aug 27, 2019, 4:48 am
#74
Join Date: Nov 2013
Location: Glasgow
Programs: BAEC (Silver), IHG (Plat Elite)
Posts: 541
But do these changes not fall into one of three basic categories ...... ?
1. The much-needed reversal of downgrades that should never have happened to begin with
2. Routine upgrades to lounges / catering which most global airlines undertake as part of an ongoing programme
3. A long overdue renewal of a sub-par J class product
Aug 27, 2019, 4:49 am
#75
Join Date: Nov 2013
Location: Glasgow
Programs: BAEC (Silver), IHG (Plat Elite)
Posts: 541
Base is now £1.2m isn't it? You'd be looking at a couple of years of that and then you're into discussions on, for example, whether part of any long-term bonus targets should be paid given that IAG is (forcibly) taking away his ability to earn thoses bonuses. Probably £4m-£5m in total.
Most of the investment banking / hedge fund / PE fraternity of here will be wondering why he even bothered to turn up for such pathetic sums to be honest.
Most of the investment banking / hedge fund / PE fraternity of here will be wondering why he even bothered to turn up for such pathetic sums to be honest.
