Guys, I’m not the type to kick people when they’re down, but I’ve never heard a CEO sound so thoroughly depressed about his company’s chances in the marketplace as I’ve heard from Blockbuster CEO James Keyes.
When you’ve got a CEO admitting, publicly, that the competition ate his lunch and busting out phrases like “Retailers must adapt or die”, it’s time to take the guy’s belt and shoelaces away.
Reading his interview in The Street, a Wall Street publication of some note, reads like a litany of failure and a depressing monument to a future of utter irrelevance. In fact, most of Keyes’ future plans sound like a horrible combination of “more of the same” and “whatever everyone else is doing”. Admittedly, they’re making some moves in the direction that the market’s moving in, Blockbuster on Demand for streaming and kiosks to take over the stores, but is this just a case of entirely too little far too late?
CEOs are supposed to be innovators, James! Stop acting like a character from Dilbert and start EARNING your ridiculously oversized paycheck!