WotC WotC President Cynthia Williams Resigns

Oofta said:

WotC is just a subsidiary of HASBRO and without knowing her employment contract we simply don't know if there were any special rewards or penalties for not giving more than the standard 2 week notice. Just like we don't know why she's leaving even after almost 400 posts on the subject.

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We do not but we know industry standard is typically longer for that level of position.

FrogReaver said:

We do not but we know industry standard is typically longer for that level of position.

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Maybe typical, maybe not. The reason people typically stay is because of bonuses and restrictions in their employment agreement. But if there are no carrots or sticks for her to give more than a two week notice I see no reason for her to do so. It's not like they have any control over her other than her employment contract, while you don't want to burn bridges behind you if she already has another position lined up that for some reason appeals more there may be no reason for her to stick around.

In other words, I don't even see any smoke here much less any fire. If there is any fire, it's well hidden and it's likely we'll never know about it.

FrogReaver said:

I’m really surprised you don’t agree that 2 week notices are uncommon for president and ceo level positions of major companies.

That seems to be the crux of the differing viewpoints.

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Yeah, I guess that is the biggest disconnect for me.

The concept of "two weeks' notice" is so ubiquitous that it's practically a cliche. I've never heard of anyone being expected (much less required) to give longer notice than that. Most job offers are only good for two weeks after signing--you're expected to show up for work within 2 weeks of accepting a new offer (you'll sometimes see it written as "within 10 business days.") Board positions and partnerships are different, of course, but that's not what we're talking about here.

When our CEO left our company a few years ago, he left for a better offer. He only gave 2 weeks' notice, just like the CEO before him. (I'm sure there were other discussions about it for weeks leading up to these announcements, but we don't know for sure because those discussions are never made public. It's just not done, anywhere, for any reason. Why would it be?) My company is larger than Wizards of the Coast (and Hasbro) by a considerable amount, too: 33 subsidiaries, >$12B revenue, >50K employees worldwide.

Folks are hanging quite a bit on this "two weeks' notice" thing, but I think it's a tempest in a teapot.

I disagree that it's a tempest in a teapot. It's a sign that they did not follow best practices for an executive departure. Why did they not? Don't know, but it certainly makes me curious. An executive leaving on short notice can rattle the board, it can rattle the stock market (unless they want the person to leave). There should be processes in place to handle such a thing. Your boss quit and gave 2 weeks. He did not care about best practices for an executive departure. But that doesn't make it "normal" or typical. It means something interfered with a good process--in that particular case your former CEO for whatever reason needed/wanted to start their new position right away. At the executive level, leaving one company for another with short notice can be a mark against someone when they interview at future positions. It can hurt their reputation. Stability matters to corpos because it matters to the stock market.

Here are some best practices for a company president's departure:

Set a departure date
Let everyone know the departure date and why, so the company can make plans and have a replacement on schedule.

Agree to an orderly transition
The CEO and board should agree on the timing and financial terms of the transition.

Prepare a communications strategy
Management should be ready to explain the transition and answer questions from employees.

Keep the news among a small group
Prepare detailed messaging jointly and get it out to colleagues and the market before anyone else does.

Focus on day-to-day management
Let go of longer-term goals and focus on ensuring that things don't go wrong.

Champion the incoming leader
Publicly reassure staff members and emphasize continuity.

Have a handover period
Ideally spanning six to nine months, this period allows for a smooth transfer of knowledge and strategic relationships.

Cooperate with the company
The executive officer should agree to cooperate with the company after their departure.

Consider remaining as a consultant
This can ease the handoff to their successor

CleverNickName said:

I disagree--2 weeks' notice is very much the norm in corporate America. Even my company's Chief Executive Officer gave two weeks' notice when she left in 2018.

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and I disagree with it being the norm at these levels

mamba said:

and I disagree with it being the norm at these levels

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Well, I tried my best. I'll leave you to it.

The CEO's contract says he can quit: "1.6 At the election of the Executive without Good Reason, upon not less than fifteen (15) days’ prior written notice of termination by the Executive." The company has to give the same notice if they want to fire him without cause.

To expect something different for a division President is a stretch.

She also just passed the date to get her second $500K signing bonus, so not much of a carrot to stay as I bet her stock is all under water.

Myrdin Potter said:

The CEO's contract says he can quit: "1.6 At the election of the Executive without Good Reason, upon not less than fifteen (15) days’ prior written notice of termination by the Executive." The company has to give the same notice if they want to fire him without cause.

To expect something different for a division President is a stretch.

She also just passed the date to get her second $500K signing bonus, so not much of a carrot to stay as I bet her stock is all under water.

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source?

mamba said:

two weeks notice with WotC scrambling to find a replacement, that part is outside the norm

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Is there any evidence that they are scrambling?

Cocks & Co. likely have a list of people that they'd reach out to for openings. Any leader would. Almost zero leaders would panic in this situation.

Stormonu said:

Dark Sun Confirmed!

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D&D is doomed confirmed!!