recentpopularlog in

jerryking : succession   48

Infosys: foundering on the rocks
August 2017 | Financial Times LEX
Founders of well-run companies tend not to believe in luck. Commercial success to them comes from hard work and smart thinking, usually from the founder. In time, some pass the management of their enterprises on to others, recognizing a need for a change.
hard_work  Infosys  boards_&_directors_&_governance  founders  artificial_intelligence  luck  succession  chance  contingency 
august 2017 by jerryking
In House of Murdoch, Sons Set About an Elaborate Overhaul
APRIL 22, 2017 | The New York Times | By BROOKS BARNES and SYDNEY EMBER.

With James and his elder brother, Lachlan, 45, who is the executive chairman of 21st Century Fox, firmly entrenched as their father’s successors, they are now forcibly exerting themselves. Their father remains very involved, but his sons seem determined to rid the company of its roguish, old-guard internal culture and tilt operations toward the digital future. They are working to make the family empire their own, not the one the elder Murdoch created to suit his sensibilities.....The conglomerate, like its competitors, is facing an extremely uncertain future. Consumers are canceling or forgoing cable hookups and instead subscribing to streaming services like Netflix and Hulu, which 21st Century Fox co-owns. The movie business continues to grapple with piracy, rising costs and flat domestic attendance. Fox also has special problems: With competitors getting bigger — AT&T’s $85.4 billion purchase of Time Warner being Exhibit A — where does that leave the Murdochs?

“That’s a question I think they asked themselves and moved them to try to buy the rest of Sky,” said Michael Nathanson, an analyst at MoffettNathanson, referring to a pending $14.3 billion deal for 21st Century Fox to take full control of the British satellite TV giant.

At the moment, 21st Century Fox’s portfolio is relatively healthy. Fox News has continued to dominate in the ratings. The FX cable channel has found a steady stream of hits, including “Atlanta” and “The People v. O. J. Simpson.” The Fox broadcast network has struggled to find new must-see shows, but the company’s overseas channels and sports networks are thriving. In its most recent quarter, 21st Century Fox reported income of $856 million, a 27 percent increase from the same period a year earlier.
succession  Rupert_Murdoch  CATV  conglomerates  uncertainty  Netflix  Hulu  James_Murdoch  Lachlan_Murdoch  family-owned_businesses  Bill_O'Reilly  organizational_culture  sexual_harassment  Roger_Ailes  generational_change  digital_media  National_Geographic  CEOs  21st_Century_Fox  mass_media 
april 2017 by jerryking
At BlackRock, a Wall Street Rock Star’s $5 Trillion Comeback - The New York Times
SEPT. 15, 2016 | NYT | By LANDON THOMAS Jr.

(1) Laurence Fink: “If you think you know everything about our business, you are kidding yourself,” he said. “The biggest question we have to answer is: ‘Are we developing the right leaders?’” “Are you,” he asked, “prepared to be one of those leaders?”

(2) BlackRock was thriving because of its focus on low-risk, low-cost funds and the all-seeing wonders of Aladdin. BlackRock sees the future of finance as being rules-based, data-driven, systematic investment styles such as exchange-traded funds, which track a variety of stock and bond indexes or adhere to a set of financial rules. Fink believes that his algorithmic driven style will, over time, grow faster than the costlier “active investing” model in which individuals, not algorithms, make stock, bond and asset allocation decisions.

Most money management firms highlight their investment returns first, and risk controls second. BlackRock has taken a reverse approach: It believes that risk analysis, such as gauging how a security will trade if interest rates go up or down, improves investment results.

(3) BlackRock, along with central banks, sovereign wealth funds — have become the new arbiters of "flow.“ It is not about the flow of securities anymore, it is about the flow of information and indications of interest.”

(4) Asset Liability and Debt and Derivatives Investment Network (Aladdin), is BlackRock's big data-mining, risk-mitigation platform/framework. Aladdin is a network of code, trades, chat, algorithms and predictive models that on any given day can highlight vulnerabilities and opportunities connected to the trillions that BlackRock firm tracks — including the portion which belongs to outside firms that pay BlackRock a fee to have access to the platform. Aladdin stress-tests how securities will respond to certain situations (e.g. a sudden rise in interest rates or what happens in the event of a political surprise, like Donald J. Trump being elected president.)

In San Francisco, a team of equity analysts deploys data analysis to study the language that CEOs use during an earnings call. Unusually bearish this quarter, compared with last? If so, maybe the stock is a sell. “We have more information than anyone,” Mr. Fink said.
systematic_approaches  ETFs  Wall_Street  BlackRock  Laurence_Fink  asset_management  traders  complacency  future  finance  Aladdin  risk-management  financiers  financial_services  central_banks  money_management  information_flows  volatility  economic_downturn  liquidity  bonds  platforms  frameworks  stress-tests  monitoring  CEOs  succession  risk-analysis  leadership  order_management_system  sovereign_wealth_funds  market_intelligence  intentionality  data_mining  collective_intelligence  risk-mitigation  rules-based  risks  asset_values  scaling  scenario-planning  databases 
september 2016 by jerryking
No Canadians need apply: the worrying trend in arts hiring - The Globe and Mail
KATE TAYLOR
The Globe and Mail
Published Friday, Aug. 05, 2016

What is worrying is the pattern: It suggests that Canadian cultural institutions are not nurturing their own talents.

If Canadian curators cannot aspire to eventually manage the museums where they work, or Canadian stage directors need never consider running Canada’s festivals, they will not give their institutions the best of themselves. They will either slump into the self-fulfilling prophecy of lower expectations or they will go abroad.

Of course, museum and festival management is, like many a business, an increasingly global game and these things do go through cycles – Anderson was rapidly replaced by one of his Canadian curators, Matthew Teitelbaum, a Torontonian who ran the AGO for 17 years before moving to the helm of the Boston Museum of Fine Arts last year.

But the recent trend suggests that the boards of large Canadian institutions need to band together to discuss how they can better mentor and nurture potential leaders.

Perhaps they should also take a careful look at the assumptions they are making in their hiring processes. These big appointments are often trumpeted with announcements that stress the long, complicated and, most of all, international searches that have been undertaken to find candidates. That may actually be part of the problem: the increasing use of headhunters to fill these jobs. Executive-recruitment agencies charging large fees to conduct searches deep into the United States or over to Europe are unlikely to conclude that the best person for the job is sitting down the hall or across the street from the incumbent.
cultural_institutions  CEOs  hiring  glass_ceilings  Canadian  museums  galleries  arts  festivals  boards_&_directors_&_governance  home_grown  mentoring  institutional_memory  executive_search  succession  leadership  curators 
august 2016 by jerryking
How SurveyMonkey Is Coping After the Death of Dave Goldberg - The New York Times
By QUENTIN HARDY JUNE 21, 2015.

SurveyMonkey’s top executives have had to avoid “strategic paralysis from a culture of mourning, and emotional revolt from telling people ‘get over it,’ ” said Jeffrey A. Sonnenfeld, a professor at the Yale School of Management. “There is a way to take a loss and make it into strength.”

SurveyMonkey was started in 1999 and remained small for a decade, offering online and email surveys on various topics. In 2009, private equity investors acquired it, and Mr. Goldberg, who had sold a small music company to Yahoo for $12 million in 2001, was brought in soon after to run the company. Starting with just 14 employees, Mr. Goldberg began his recruiting.
Quentin_Hardy  SurveyMonkey  Silicon_Valley  mourning  succession  paralyze  boards_&_directors_&_governance  executive_management 
june 2015 by jerryking
The networker: Martin Sorrell of WPP - FT.com
March 13, 2015| FT | Andrew Hill.

After 30 years, WPP now embraces some of the best-known names in marketing, advertising and public relations, including Ogilvy & Mather, J Walter Thompson and Burson-Marsteller.
In the process, Sorrell has become one of the best-connected executives in the world....Sorrell performs a similar role at WPP, using a combination of visionary pronouncements and obsessive micromanagement of clients, finances and employees. ....later this year a new chairman, Roberto Quarta, will take over. Quarta, a tough Italian-American with a background in private equity, is expected to be less submissive to WPP’s chief executive than previous chairmen. The question of how long Sorrell ­continues in his role, who could succeed him, and what will happen to the WPP empire if he goes, will be the most important issue on Quarta’s desk....“[If] I have been behaving as an owner, rather than as a ‘highly paid manager’ . . . mea culpa. I thought that was the object of the exercise,” he wrote.
Martin_Sorrell  WPP  advertising  advertising_agencies  succession  deal-making  WEF_Davos  legacies  JWT  Ogilvy_&_Mather  owners  Burson-Marsteller 
march 2015 by jerryking
A Faith Unshaken but Unsettled - WSJ.com
February 14, 2013 | WSJ|

A Faith Unshaken but Unsettled
Catholics react to Pope Benedict's resignation.

By PEGGY NOONAN
Peggy_Noonan  Catholicism  succession  Christianity  Vatican  Catholic_Church 
february 2013 by jerryking
When Junior lacks the family royal jelly
May 2, 2004 | FINANCIAL POST | Thomas Watson

'You can hire better than you can sire,' says one successful entrepreneur

When Junior lacks the family royal jelly

BY THOMAS WATSON
entrepreneur  succession  family_business  family-owned_businesses 
january 2013 by jerryking
Family Circus.pdf (application/pdf Object)
December 31, 2001 By Thomas Watson
Canadian Business Magazine - RICH 100
succession  family_business  family-owned_businesses  retire 
january 2013 by jerryking
Exits and Family Offices
2006 | Tax Management Inc. a subsidiary of the Bureau of National Affairs |
family_office  exits  succession  tools  privately_held_companies 
august 2012 by jerryking
Three Questions From China's Bo Xilai Fiasco
April 17, 2012 | WSJ | By MINXIN PEI.
Three Questions From China's Bo Xilai Fiasco
Six of nine Politburo members paid homage to Chongqing, implicitly endorsing the now-discredited 'Chongqing Model.'
(1) How was an individual with such known flaws entrusted with so much power with so little constraint?
(2)How can it better manage competition for power at the top during succession?
(3)How can it better manage political crisis in the age of the Internet and microblogs?
Bo_Xilai  China  leadership  succession  Politburo_Standing_Committee  scandals  Chinese_Communist_Party 
may 2012 by jerryking
Plus ça change in North Korea - The Globe and Mail
derek burney
From Tuesday's Globe and Mail
Published Tuesday, Dec. 20, 2011
North_Korea  succession  Derek_Burney 
december 2011 by jerryking
Going Out on Top
Fall 2007 | Report on [Small] Business | Nick Rockel
succession  exits  small_business  entrepreneur  family-owned_businesses 
december 2011 by jerryking
Review & Outlook: Breaking the Kim Dynasty - WSJ.com
DECEMBER 20, 2011| WSJ | Editorial.

Moments of transition are also when a syndicate like the one that rules North Korea may face internal leadership disputes. It's possible that as the Kim gene pool gets shallower, the young Kim may not be able to maintain control the way his father and grandfather did. The West can exploit this tension by staying united in isolating the regime until it changes.

The wrong approach is to believe the regime will change with another round of cash and other carrots. In recent days Washington and Seoul have been tempting the North back to the six-party talks on denuclearization with offers of humanitarian food aid. But the lesson of the past 20 years is that this helps the regime by giving it currency or other aid to pay off its members and by enhancing its international stature.

The Clinton Administration tried and failed with its Agreed Framework of 1994, and the Bush Administration tried and failed in its second term with Condoleezza Rice's ploy to remove North Korea from the U.S. list of state sponsors of terror. North Korea pocketed everything, lied about dismantling its nuclear plans, and kept on proliferating. A replay might enhance Kim Jong Eun's stature inside the regime.

Dictatorships tend to split when they are under economic and diplomatic pressure
dynasties  editorials  North_Korea  Kim_Jong_Il  gene_pool  deaths  dictatorships  Kim_Jong_Eun  succession  nepotism  transitions 
december 2011 by jerryking
John Bolton: 'The Great Successor' - WSJ.com
DECEMBER 20, 2011
'The Great Successor'
There's no guarantee that the North Korean military will accept another hereditary ruler.

By JOHN BOLTON
John_Bolton  North_Korea  U.S.  succession  dynasties  op-eds  Kim_Jong_Il  deaths  dictatorships  Kim_Jong_Eun 
december 2011 by jerryking
CURSE OF THE THIRD GENERATION?
22 Nov. 2006 | Report on Small Business | by Oliver Moore.
motorcycles  family_business  Seagram  succession 
december 2011 by jerryking
It's hard to make a graceful, final exit
Nov. 23, 2011 | The Financial Times. (): News: p14. |Luke Johnson
Once you have sold you will certainly receive special attention thanks to your "liquidity event". Wealth managers and private bankers will call incessantly, hungry to look after your loot. Charities too will come knocking, hoping you will become a generous philanthropist. Long-forgotten friends will get in touch, happy to rekindle the acquaintance now that you are so evidently rich. New friends may suddenly emerge, keen to help you spend your wealth.

Consequently you will have to learn to say no rather more often, and to spot the phoneys and envy that usually appear. [jk...be conservative, be discerning, be picky, be selective, say "no"]

Over time, probably half of all entrepreneurs who've sold up start a new venture.
exits  entrepreneur  Luke_Johnson  serial_entrepreneur  say_"no"  succession  philanthropy  wealth_management  private_banking  liquidity_events  charities 
november 2011 by jerryking
Exit planning For Entrepreneurs
April 30, 2007 | National Post | Jonathan Chevreau.

Business succession planning may be a $10-trillion market in North America, according to Perry Phillips, coauthor of a new book titled just that: The $10 Trillion Opportunity: A Guide for Professional Advisors.

Phillips cites studies that show 70% of Baby Boomers currently running small and medium- sized businesses will want to exit by 2015.

In Canada, the opportunity should be worth $1.3-trillion, he estimates
exits  business_planning  entrepreneur  books  succession  JCK 
november 2011 by jerryking
What Hewlett-Packard Seeks in a Successor to Fiorina
Feb 10, 2005 |Wall Street Journal pg. B.1 | Joann S. Lublin and
Don Clark. Ms. Dunn will spearhead the hunt, though some company
watchers expect board member Thomas Perkins to play a major role, too.
Mr. Perkins rejoined the H-P board earlier this week. A founder of the
venture capital firm Kleiner Perkins Caufield & Byers, he is
regarded as an aggressive deal maker and someone who built his career by
pushing technology companies to grow. "The most important thing is not
that Carly is gone, but that Tom Perkins is back," said Mark Stahlman,
an analyst at Caris & Co. in New York.
ProQuest  Kleiner_Perkins  HP  succession  CEOs  executive_management  Tom_Perkins  boards_&_directors_&_governance  Carly_Fiorina 
october 2010 by jerryking
Who are you without your business?
Jun. 12, 2009 | The Globe and Mail | Thane Stenner. “When
you sell a company, it can be like having a large part of your identity
suddenly removed,” he told me. For Mr. Bentall, the feeling was
compounded by the fact that Dominion Construction had been a family
business for three generations. “I distinctly remember selling, and
feeling like half my face had been erased.”

As a way of dealing with those challenges, Mr. Bentall founded Next Step
Advisors ( http://nxtstp.net/ ), a succession coaching and consulting
group. He now draws upon his personal experience to help other business
owners through the selling process, and to find what he calls
“endeavours of purpose” after the sale.

Contact Info:
David Bentall's Office
604.317.2624
Toll Free: 1.866.594.4012
#701-150 Athletes Way
Vancouver, BC
V5Y 0B5
bentall@nxtstp.net
high_net_worth  exits  Thane_Stenner  succession  owners  jck  Second_Acts  family_business  family-owned_businesses 
august 2010 by jerryking
Condé Nast Hopes to Wean Itself From Ad Revenue - NYTimes.com
July 23, 2010 | New York Times | By JEREMY W. PETERS. "”The
goal of the overhaul, is to transform Condé Nast into a business that
relies less on advertising revenue and more on the income it makes from
charging consumers to read its products on both digital and print
platforms." ..."Beyond succession, other questions remain about the
company’s future, namely whether it can wean itself from advertising
dollars as much as it would like. Its transition to a more
consumer-focused business model will be difficult for a company that now
earns about 70 percent of its net profit from advertising.
Condé Nast has been slower than other magazine publishers to embrace the
Internet, and some industry analysts have questioned whether its
lateness in developing a digital strategy would harm the company in the
long run. "
publishing  magazines  Condé_Nast  privately_held_companies  succession  digital_strategies 
july 2010 by jerryking
To outsmart the bad guys, CSIS's next boss must play it smart
April 29, 2009 | The Globe & Mail | by WESLEY WARK. CSIS'
current director is set to retire. Wark lays out what's required by his
successor to ensure that the agency's "product" gains relevance amongst
Canadian policymakers. "The more radical challenges lie elsewhere. They
have to do with people, thinking skills, and transformative
capabilities". CSIS has to improve it record on analysis. Too much of
its past product has been superficial, irrelevant and driven by
ill-thought-out demands. Climate security, failed states, environmental
degradation, natural disasters, pandemics, cyber crimes, people
smuggling, international drug trafficking--which should CSIS be focused
on?
security_&_intelligence  CSIS  succession  Wesley_Wark  Canada  Canadian  threats  policymakers  policymaking 
may 2009 by jerryking
Succession Planning Is Over-Rated
November 5, 2007 blog post in Adam Smith on

Few individuals are likely to possess all the characteristics sought by
Wall Street institutions or law firms.

As for what matters most, I defer to Dennis Weatherstone, former
chairman of J.P. Morgan, who is given the last word in the Journal
article: Granted, he says, "the number of candidates for these
positions is somewhat limited" and experience is "always valuable." But
he sees the key in something else: It's more important, he avers, to
find a CEO who can "anticipate change." And maybe the one best able to
anticipate change is one who has less of a vested interest in the status
quo. Just a thought.
succession  talent_management  leadership  law_firms  anticipating  CEOs  Bruce_MacEwen  status_quo  experience  industry_expertise  change  overrated  what_really_matters 
april 2009 by jerryking

Copy this bookmark:





to read