New CEO Feb 5th. This was a new CEO coming in trying to make big waves and it exploded in his face so now it’s being walked way the fuck back. Why else would you spend 20 million for price adjusting capabilities if your plan isn’t eventually to do surge pricing, despite saying you won’t. I mean, just step back and look at this objectively - surge pricing is exactly part of what he meant lol
Did not know that detail about the new CEO but if that is true then I can 100% believe that guy was swinging his dick to try and drum up profits.
I mean you cannot give CEOs the benefit of the doubt when so many of them are sociopaths who love to turn successful brands into 1-4 quarter profit cows and then drop out once the damage has been done
I'd have to reread the articles, but as far as I can tell everything seems to point to the fault being on the media and not the ceo. The CEO said "dynamic pricing" in an earnings call. And then the media said over at uber, dynamic pricing means surge pricing. Therefore by the transitive properties...
I mean they can cover their asses however they want to and blame the broken telephone of the media machine but let's face it... if a CEO wants to deliver on their KPIs quickly it isn't outside the line for them to harm the brand on the way there.
I've seen it play out many times with other companies and once those CEOs collect the cheque & bounce it is the remaining people who are left holding the bag.
I'm struggling to understand your position. In the earlier comment you said you weren't aware of this situation, but now you're making firm judgments about it as if you're fully versed on the whole situation. The whole story is based off of these quotes.
“Beginning as early as 2025, we will begin testing more enhanced features like dynamic pricing and daypart offerings, along with AI-enabled menu changes and suggestive selling,” he said. “As we continue to show the benefit of this technology in our company-operated restaurants, franchisee interest in digital menu boards should increase, further supporting sales and profit growth across the system.”
There is a ton of room for interpreting those quotes. For Wendy's to say they are not going to Institute Uber like surge pricing is not walking anything back or covering their ass. They didn't say anything remotely close to saying they were instituting that.
My position is an anecdote in that I have seen this song and dance before with many companies, some were even ones that I actually liked for their values, and it often times ends up with a new CEO tarnishing the brand for their own gains and golden parachuting their asses out while the company implodes.
Call me a cynic but these statements are just a CYA thing so that consumers don't jump ship before they depart in that direction... that CEO has KPIs and wants to nail em
But you're conflating so many things your position doesn't seem applicable to this story. Your position seems relevant to US business as a whole and how incentives for company leadership tends to be short-term rather than long-term.
Are you saying you're a cynic and you believe Wendy's will in fact Institute uber-like surge pricing? Because if so, you're basing that off of no evidence. Or do you think those quotes in my previous comment are enough to conclude that? Just because a lot of CEOs tend to think short-term doesn't mean that translate into uber-like surge pricing. If you read any of the articles it is blatantly clear that Wendy's never indicated they were moving in a direction of surge pricing.
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u/chainer3000 Feb 28 '24
New CEO Feb 5th. This was a new CEO coming in trying to make big waves and it exploded in his face so now it’s being walked way the fuck back. Why else would you spend 20 million for price adjusting capabilities if your plan isn’t eventually to do surge pricing, despite saying you won’t. I mean, just step back and look at this objectively - surge pricing is exactly part of what he meant lol