Todd Combs must resign as GEICO CEO


Todd Combs must resign as GEICO CEO
The Issue
This petition is meant to demand the immediate resignation of Todd Anthony Combs as CEO of GEICO insurance.
For the last 4 years Todd Combs has received roughly 14 million dollars in compensation every year as he has systematically overseen the dismantling of the GEICO Insurance corporation. That is nearly 56 million dollars so far, the equivalent of 25 American lifetimes in wealth, paired with a reduction of approximately 10000 GEICO employees in tandem with increasing customer premiums over his tenure. None of these "cost saving" or "profit driving" tactics has yielded a better product for the customers or benefits for the remaining and over worked employees. He has reaped all of the gains and shares none of the risks with us.
These actions include the unceremonious same day firing of 2000 employees last year with no warning or notice, something unheard of at GEICO for decades prior. The employees that were fired, also being callously chosen by an outside consulting firm to avoid Todd having to take direct responsibility in assessing and executing the almost random terminations.
All of this made worse by the fact that GEICO had a 3.6 Billion dollar profit windfall in 2023, offsetting even the pandemic induced 1.9 billion dollars in losses of 2022. And this has not translated into greater benefits and pay for either the employees or the customers.
The evidence of Todd's importance as CEO is non-existent, with the most relevant evidence showing all he is capable of doing is collecting his unearned paycheck. Even the lowest of his employees contribute daily in excess of Todds interactions with his staff and coworkers on an annual basis.
The most recent notable communication from him being the prior mentioned 2000 unexpected layoffs of long term GEICO employees.
The damage he has allowed to happen to GEICO and it's daily operations and operators will not be solved by his removal alone. But it is the start, and an admission that he has failed as GEICOs CEO and this is the first step on a long path to repairing a once great company to it's former glory.
This is long overdue Todd, we want you to leave, take your stolen wealth and LEAVE.
319
The Issue
This petition is meant to demand the immediate resignation of Todd Anthony Combs as CEO of GEICO insurance.
For the last 4 years Todd Combs has received roughly 14 million dollars in compensation every year as he has systematically overseen the dismantling of the GEICO Insurance corporation. That is nearly 56 million dollars so far, the equivalent of 25 American lifetimes in wealth, paired with a reduction of approximately 10000 GEICO employees in tandem with increasing customer premiums over his tenure. None of these "cost saving" or "profit driving" tactics has yielded a better product for the customers or benefits for the remaining and over worked employees. He has reaped all of the gains and shares none of the risks with us.
These actions include the unceremonious same day firing of 2000 employees last year with no warning or notice, something unheard of at GEICO for decades prior. The employees that were fired, also being callously chosen by an outside consulting firm to avoid Todd having to take direct responsibility in assessing and executing the almost random terminations.
All of this made worse by the fact that GEICO had a 3.6 Billion dollar profit windfall in 2023, offsetting even the pandemic induced 1.9 billion dollars in losses of 2022. And this has not translated into greater benefits and pay for either the employees or the customers.
The evidence of Todd's importance as CEO is non-existent, with the most relevant evidence showing all he is capable of doing is collecting his unearned paycheck. Even the lowest of his employees contribute daily in excess of Todds interactions with his staff and coworkers on an annual basis.
The most recent notable communication from him being the prior mentioned 2000 unexpected layoffs of long term GEICO employees.
The damage he has allowed to happen to GEICO and it's daily operations and operators will not be solved by his removal alone. But it is the start, and an admission that he has failed as GEICOs CEO and this is the first step on a long path to repairing a once great company to it's former glory.
This is long overdue Todd, we want you to leave, take your stolen wealth and LEAVE.
319
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Petition created on February 28, 2024