Hey kids, it’s The Shred for September 4, 2018, brought to you by Judge.com. Whether you’re moving your systems to the cloud, building out a team for your next project, finding healthcare talent for your organization, filling that mission critical direct hire to lead your team, or training your employees on the latest technology, Judge.com can deliver to ensure your organization’s long-term growth. To the news: Well, it finally happened. After being acquired a little over a year ago by Apollo, CareerBuilder has a new CEO today. After a 14 year reign, Matt Ferguson is being replaced by Irina Novoselsky, who was previously the company’s president and COO. Ferguson is now executive chairman. The new CEO has a history with Apollo, having served with one of their portfolio companies. In an email to employees, Ferguson made a lengthy statement, but the highlight for me is as follows: “It has been one of the greatest honors of my life to work with everyone who’s been part of our CareerBuilder team. I am so proud of the things we’ve accomplished together – far too many to recount in one email. Our work has changed an industry. Today, we are poised to do it again. You have the grit, passion and talent that a transformation like this needs – that the company needs.” Poised to do it again? Go look at the reviews on Glassdoor, Indeed and others. Look at how many execs and employees are gone. The culture is shot. You’re in a game that now includes Microsoft, Google and Facebook. The only thing I see that Careerbiulder is poised to do is sell off this company to the highest bidder. Ferguson leaving is textbook stuff for private equity firms who cut companies to the bone in the name of profits, not embrace innovation. Time will tell, but just as I predicted Ferguson’s exit months ago, I’ll go ahead and predict CareerBuilder will have a new owner a year from now. Be sure to tune into the weekly show for deeper opinion on news you hear on The Shred. Once again, thanks to our sponsor Judge.com. With over 48 years of experience and success, Judge is an industry leader in technology, talent and learning solutions. Judge is a family-owned business which has grown globally with offices in the United States, Canada, India and China. Learn more at j-u-d-g-e-dot-com. Cheesman out.
Matt Ferguson OUT as CareerBuilder CEO
September 4th, 2018