Leonardo Del Vecchio and Rupert Murdoch have plenty in common. The chairman of Luxottica, the eyewear group, and the chairman of News Corp and 21st Century Fox were born in the 1930s. Both are billionaire patriarchs of family businesses they largely built themselves but now share with outside investors. Both have six children from different relationships, and both have wrestled with the question of succession.
General Motors CEO Mary Barra
General Motors’ widening of the recalls of US cars and trucks for safety and other defects is a challenge for Mary Barra, its new chief executive, as she prepares to testify to Congress this week. Read more
Satya Nadella’s unveiling of Office for the iPad is a significant moment for Microsoft, and his leadership of the company. I wonder if it will also be an incentive to improve the product itself?
I write this because Word in particular still strikes me as a product that is too big to fail. The network effect of so many companies using it makes individuals follow suit but it is bloated and irritatingly full of bugs. Read more
Leo Strine – comforter of the corporate executive? (AP Photo/Richard Drew)
Has shareholder democracy in the US gone too far? The very idea seems risible to Europe-based corporate governance advocates, myself included, who have watched American investor rights advance in a good direction, but at a snail’s pace. But those making the case now for limiting investor powers have a strong, prominent, and eloquent ally in Leo Strine, Delaware’s chief justice. His latest Columbia Law Review article, ostensibly arguing for a pragmatic version of investor democracy, is a must-read. Read more
If you had asked board directors at the beginning of last week which of two situations – the stand-off between Russia and Ukraine in Crimea, and the forthcoming British Budget – was politically riskier, they would have chosen the first. But for a few insurers involved in the lucrative business of offering annuities to pensioners, Britain turned out to be the more perilous place after George Osborne, the UK chancellor, astounded them by announcing reforms that could cut the size of that market by 90 per cent.
Marian Robinson with Barack and Malia Obama
Michelle Obama’s secret weapon for this week’s China trip has been unveiled: she is taking her mother Marian Robinson along, as well as her two daughters. Dubbed “grandma diplomacy“, it is seen as a way of charming the Chinese, who place greater emphasis on tight family bonds than their American counterparts. Read more
Two images stand out from the 30% Club’s latest report into why relatively few women make it to the highest echelons of UK companies.
Both illustrate that the main problem with gender imbalance lies in the executive committee and below – the so-called “talent pipeline”. A man starting his career at a FTSE 100 company is 4.5 times more likely to reach the executive committee than a women, the research says. This is how far short big UK companies fall:
Pets at Home’s IPO prospectus opens a window into the lucrative world of Britain’s cats and dogs. The company, which went public on Wednesday, has a 12 per cent share of the £5.4bn pet care market and there are some fascinating nuggets in its 261-page document. Here are six of the best.
1. What recession? Britain’s pets haven’t been tightening their collars.
Living standards in the UK have fallen to their lowest in a decade (a fact not unrelated to Poundland’s successful IPO on Wednesday) but the country’s pets appear to be better off than ever. Read more