Can E*Trade Make Good On Its Turnaround Plan After Q4 Losses?
(NewsVisual, powered by IntellectSpace)—In an effort to return to positive earnings in 2008, E*Trade Financial Corp (NASDAQ: ETFC) announced on Thursday the details of its “turnaround plan.”
After receiving a $2.55 billion cash infusion in November from Citadel Investment Group, E*Trade's strategy includes the disposal of certain non-core assets, cutting costs, and raising funds through capital markets transactions.
After reporting fourth-losses of over $1.7 billion, which far exceeded analyst expectations, the company is clearly desperate for a change. E*Trade acting CEO Jarrett Lillian said that he expects the turnaround plan to bring profitability back to the company by the second half of 2008.
Lillian will be under quite a bit of pressure to make good on his promises. NewsVisual decided to create an IntellectSpace Knowledge Map of the current Senior Executive and Board connections of the company’s Directors, who are likely also feeling the pressure to satisfy the shareholders in this time of crisis. Strong corporate leadership experience and industry connections will go far for E*Trade as it engages in its turnaround plan.
As illustrated in this Knowledge Map, nearly every Director at E*Trade holds a Board or Executive position at additional major public companies in various industries.
Ronald D Fisher is a Director at both Softbank and GSI Commerce, and Daryl G Brewster is the CEO of Krispy Kreme Doughnuts Inc. Donna L Weaver, Michael K Parks, Cathleen Raffaeli and George Hayter each have multiple current affiliations with other companies as Directors and Senior Executives, to companies that include American Home Mortgage Investment Corp, Hamilton White Group, MxSecure and Aurora National.
As the company prepares for a major overhaul to bring about profits within the year, investors will be depending on the leadership team to tap into their years of combined corporate experience and network get E*Trade through this next critical period.
Click here or copy this link into your Internet Explorer browser for an interactive version of this IntellectSpace Knowledge Map: http://nv.intellectspace.com/ispace/GuestMonitor.aspx?id=34892d73-1f07-475f-b60a-a6bafa79727a
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