Sticking it to the Boss

It's no fun being the boss when everyone is out to get you. Just ask Phillip Purcell, embattled CEO of Morgan Stanley.

A consortium of former executives announce to the world via an ad taken out in The Wall Street Journal and interviews on CNBC that you're not doing your job well. Passed over and disgruntled executives leave en masse, about 30 all told. That put Purcell on even shakier ground; several of the executives were top producers. A mass exodus is a great way of showing solidarity and airing displeasure with current management without violating those pesky confidentiality agreements.

But what if it doesn't end happily? As previously mentioned, the July issue of New York Magazine tells the story of the power struggle at ad agency Saatchi & Saatchi, where 17 executives resigned and were all hired by a rival firm. A law suit is pending.

When is jumping ship not the wise thing to do? Would you organize mass resignation like this to stick it to management?

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1 Comments

  • Steve Bojan

    In this day and age there is often no longer a choice other than to leave en masse is you are not happy with your company's direction. The board of directors or stockholders often do not listen or pay attention to what is actually going on. They put their faith and loyalty in a leader that is feeding them his version of reality. It is truly amazing how many organizations are led down the wrong path because ownership/governing boards do not know how to "kick the tires."