Looks like the loudmouth CEO of GrubHub is costing the company big time. I wrote previously that the board should remove the guy as he just became a liability. This was after the guy issued a letter to all employees that were anti-Trump and said that if employees didn’t agree with him, they should resign. The stock price that day took a nosedive of four points. Now they are down five. He tried to walk it back sort of, but the damage was already done. What an idiot… he just couldn’t keep his politics to himself and now it’s costing all of them big time.
I don’t know what possessed Matt Maloney to take to email to vent in the first place other than being young, inexperienced, impulsive and stupid. Frankly, I had never heard of GrubHub before this, but you can bet I’ll never use them now. It’s the principle of the thing. And it looks like millions out there feel the same way.
From Louder with Crowder:
GrubHub, an online food delivery service, is facing a firestorm after CEO Matt Maloney sent an anti-Donald Trump email to employees.
Maloney also wrote in the email to 1,000-plus employees that Trump’s “nationalist, anti-immigrant and hateful politics” have no place at GrubHub. “If you do not agree with this statement, then please reply to this email with your resignation because you have no place here. We do not tolerate hateful attitudes on our team.”
Now the company is facing a backlash and a significant stock drop. GrubHub (NYSE: GRUB) shares closed Friday at $35.31, a drop of nearly five percent.
The app currently has a star rating of 1 1/2 out of 5.
You can say whatever you want as a CEO of an up and coming company. Just remember, words have consequences, especially in the stock market. Probably the best thing this guy can do now is shut it. No matter what he says from this point forward, he’ll just be sticking his foot in his mouth again. It’s a hard and painful lesson to learn, but if you vomit your politically passionate opinions on people (especially your employees), you have to know that there could be and probably will be blow back.
This is why you should keep politics out of business. It never ends well. And punishing employees for their political beliefs is a great way to go out of business in the Land of the Free. This guy should take anger management classes, maybe a leadership class or two and reflect on silence is golden.
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