Financial Services Industry
Industry: Email Alert RSS FeedThe right man for the job.
Investors Chronicle, March, 2005
The concept of 'the right man for the job' has a long history in business leadership, but a patchy record of application. Jack Welch, appointed chairman and chief executive of giant US company General Electric (GE) in 1980, dominated it for 20 years, and made GE's shareholders much richer. There are dozens of similar examples.
But there are countless more examples of the right man for the job being given powers to match, and turning out to be the wrong man for the job. As a result, in the UK, it's now virtually unthinkable that a large quoted company could adopt a new management structure involving a single person acting as chairman and chief executive. "The roles of chairman and chief executive should not be exercised by the same individual," says paragraph...
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