999
Unity CEO John Riccitiello is retiring, effective immediately
(arstechnica.com)
Pisses me off that CEOs never get fired for their bullshit and get to "retire" or "resign" like they didn't just make the most boneheaded decision that severely hurt the company.
There really needs to be some organizational structure where the CEOs have the power to make the decisions they make, but the employees have the power to punish and fire them when they do shit like this. No golden parachutes for them!
This is actually wrong. There's a near 100% chance that the decision was made by the board, and also the decision to remove the CEO. So we're talking about the fall guy, but being an insider, the fall guy will get a tidy sum for the dive
Then the CEO can be recycled to some other project, and a new CEO instated at Unity, so they can pivot or double down with no moral dilemma. In reality, the board was there all along and it's all a big PR game
CEO may have even wanted to leave anyway before the announcement and agreed to make this unpopular announcement knowing that he'd take the bad blood with him when he left.
load more comments
(10 replies)
You're saying the workers should own the means of production. Sounds fair to me.
Pisses me off that CEOs never get fired for their bullshit and get to "retire" or "resign" like they didn't just make the most boneheaded decision that severely hurt the company.
They're rich people and it's not considered acceptable to hold rich people accountable in even the most trivial way.
load more comments
(2 replies)
CEOs are beholden to the shareholders, not the employees
Employees should be automatic shareholders. Ought to be a workers right by default to receive some portion of the equity they're producing.
Edit: And to be clear, shareholders win too. More companies should voluntarily structure themselves to grant shareholder rights to employees. Dumbass company ending mistakes are usually seen a long way off by line and rank employees.
But it should also be legally mandated structure, much like 401k rules exist now. I propose that all players involved are better off with such a rule, other than the (not currently rare) asshole CEOs who only want to pump and dump their stock.
Whoa get those perverted thoughts out of here commie scum!
It's actually pretty common to provide employees with stock options. But depending on the situation, it can be a better deal for the company than the employees. For the company, equity is a relatively cheap way to "motivate" employees. For the employees, it goes against the principle of portfolio diversification: if the company does badly, not only is their regular income threatened, but so are their assets.
load more comments
(2 replies)
load more comments
(2 replies)
load more comments
(4 replies)
load more comments
(4 replies)
Former EA CEO will be replaced in interim by James Whitehurst from IBM/Red Hat.
Is that better or worse?
I swear they treat CEO's who tank companies like they do priests who molest kids and just send them to another place whenever they get caught.
load more comments
(6 replies)
red hat
Given their decision making in 22-23 especially, yikes
but if they isn't anymore in red hat so they didn't take the 22/23 decisions, no?
load more comments
(1 replies)
Gamers don't know who he is so probably better
People in software know who people in software are. Unity is for software developers, not gamers.
load more comments
(1 replies)
load more comments
(1 replies)
load more comments
(1 replies)
They treated a game engine company like a Silicon Valley startup. It's a limited customer base. It was never going to scale. Dummies.
No way, bro, we just gotta get each user to pay, bro. Have them pay a monthly fee to us to play games, bro. It’ll totally scale, bro.
load more comments
(1 replies)
It's a start.
Now do the Board who chose an EA CEO with his track record to lead Unity and stood behind this until finally forced by the consequences of his actions to push them out.
Certainly and after what happenned, merelly pushing out one guy in the nicest, most career protecting way possible, isn't sufficient to restore my trust in Unity as a platform on top of which to base my business.
I'm excited to know where that money hungry pos is going next 🤔
Judging by those eyes alone, I'd say he's going back to the collection of dismembered prostitutes in his basement.
load more comments
(3 replies)
load more comments
(1 replies)
Is that.. the guy from EA?
This explains lot!
Too late, I wouldn't trust Unity from this point on. Spend tons of time and effort only to have it all yanked away. Screw that!
load more comments
(1 replies)
Urrespective of all the other BS, why was the CEO also president of the board?
The role of the board is to supervise the executives.
That's not exactly an uncommon structure. In case you're just realizing this now: rich people are a bunch of corrupt fuckers.
load more comments
(1 replies)
load more comments
(1 replies)
Unity is dead, but at least one guy made it out like a bandit.
Wow he only had to tank the company before his 50m worth of EA ownership became a problem...
Do not let the door hit you on the way out.
inb4 he gets a job at fucking blackstone inc or something lmao
Why do we call it "retiring" when we all know he'll be CEO of some other company in 2 months?
load more comments
(2 replies)
Good riddance, but idk if this is a case of too little too late
Yeah, after burning down something popular, he get off without any repercussions (aside maybe a big bag of cash) and is likely to go find the next successful thing to burn it down, to get another big bag of cash.
Can we purge these people out once they failed everywhere?
He didn't fail. He did what the board asked of him which proved to be more unpopular than they all had expected. So they gave him an obscenely generous severance package and sent him on his merry way.
He's been rewarded and they're just trying to position it so it looks like the company leadership gives a shit and won't try the exact same thing at a later date.
Out with the old guy and in with the new guy. No change to the incentive structure. I wonder if things will turn out differently this time?
I hope Unity users will get to continue to use the tool they have spent so many hours learning. I also think the industry should try to make things more CEO proof.
The problem is making it more shareholder proof. Enshittification comes from the line go up mandate. Unity is but a single example.
load more comments
(2 replies)
I also hope that they continue to be able to use that tool, but at this point, it's clear to me that it would be wise to start learning new tools. For me, it's not just that the company has made a mistake, but that the mistake was a repeat of a mistake they made back in 2019, which indicates that they may well do it again.
Presumably with a generous severance package and pension.
Yeah, yeah, I assume he got like 4727928 bazillion golden parachute or some bullshit
view more: next ›
this post was submitted on 09 Oct 2023
999 points (100.0% liked)
Technology
72894 readers
2745 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related news or articles.
- Be excellent to each other!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, this includes using AI responses and summaries. To ask if your bot can be added please contact a mod.
- Check for duplicates before posting, duplicates may be removed
- Accounts 7 days and younger will have their posts automatically removed.
Approved Bots
founded 2 years ago
MODERATORS