Monday, 18 July 2011

CSC joins the S&P 500's "top twenty worst performing stocks of 2011"

It is not the "market leader" tag that CSC shareholders want, but today CSC stands at number 9 among 2011's worst performing stocks of the S&P 500. CSC has yielded a year-to-date return of minus 26%, underperforming the S&P 500 by over 30%, according to the "Wall St Cheat Sheet - Insights for Investors". Full details on



http://wallstcheatsheet.com/trading/sp-500-worst-performing-stocks-of-this-year.html/



Why do CSC's store minders, its non-executive directors who think they should be re-elected, allow this continued destruction of shareholder value by its Chief Executive?

1 comment:

Anonymous said...

Don't expect CSC's non-executive directors to address the Mike Laphen problem until someone or something forces them to. They have not addressed it to date despite all CSC's problems. So what else do they need to see that they do not have the right man in the job?

They selected Mike Laphen to be Chairman, President and CEO in 2007despite the evidence that it would likely be a mistake,

He is a driven operational manager, at his best when dealing with numbers, specific problems and attainment of measurable short-term targets. He likes to manage by imposing his will on those around him and will surround himself with people who have a similar approach to himself.

He does not have many of the key skills which one needs in a CEO. He does not possess good conceptual skills, nor is he charismatic. He has little strategic vision nor feeling for sales/marketing. He will not bring the best out of a diverse team as he does not place much value on views that do not match his own.

CSC's non-executive directors should have discovered all this before naming Mike Laphen to his current positions. He was not exactly unkown to them nor to dozens of senior CSC executives. But they did not and today we see the consequences.