7y
Thanks for taking the time to share your thoughts. I'm sorry to hear about your intent to leave Medallia. Let me try and address some of your concerns.
I've met with many Medallians around the world since I joined over a month ago. As I have shared, I believe we have some of the industry’s best talent, and an extraordinary market opportunity. Our values and culture are in my view, a key differentiator, and not just in the CX space.
Medallia has investors, including you, who rightly expect and deserve a return in a reasonable timeframe, as you point out, and they expect managers to manage resources effectively and to target them on the right profitable growth initiatives which are common in any good business.
Since coming to the company I have been able to review the equity distribution as it relates to everyone not just the exec level in the business and I have to tell you it stands the scrutiny of any decent public company that respects its colleagues. I personally won’t work in a business that doesn’t democratize the wealth. If you have heard me speak at our all hands you will have heard this - over and over actually.
Following the elimination of some roles recently, I shared my thoughts very candidly with Medallians. I talked about the road ahead and the specific steps we are taking and plan to take going forward. In addition, every department leader held meetings to address any concerns and questions. Our intent was not to avoid discussion but to provide an opportunity for teams to engage directly with their leaders and have a forum to share feedback. In the size of company we are, I can talk with and listen to everyone. You won’t find me shy to share thoughts or unwilling to listen to you. I have held 6 all hands for different teams in as many weeks - I just did our DC office and Toronto. At each meeting I make it very clear that there is no protocol in the company and my door is always open and you can discuss anything with me.
Finally, in many years of running businesses I have rarely come across the mix of talent and market potential there is at Medallia. I am employed to work for you, actually, part of that commitment is the willingness to make tough calls.
I am not here to milk Medallia at the expense of its culture, but we are a business that like any other will show its very best characteristics in profitable growth and I hope you are part of it.
I know it is hard to see some of these steps we are taking play out as we grow and ready ourselves for the future. I don’t blame you for your comments and I think your concern is natural and very healthy. I am not sure there is ever a good way to let people go from jobs but I know our team did their best to make the right decisions and treat anyone affected with the respect they deserved. This happens in businesses from time to time.
My door is always open. I hope you will take the time to walk through it.
Thanks again for your feedback.
Best,
Leslie Stretch, President & CEO
