In saying AG Lafley is “uniquely qualified” to lead Procter & Gamble – again – Jim McNerney, the board’s presiding director, somewhat understates the case.
Not only was Mr Lafley one of P&G’s most successful ever leaders between 2000 and 2009, he has literally written the book on how he achieved the corporate turnround – Playing to Win, co-authored by Roger Martin and published this year. But the record of chief executives who return to the top job is mixed: while there are benefits to bringing back the former CEO, there are pitfalls too. Read more
It is easy to forget. Most of us work in buildings where safety can largely be taken for granted, and fire drills are annoying disruptions in which a security official seizes the chance to talk loudly and repeatedly on the public address system, stopping us from doing any work. Read more
The post-Christmas come down is a depressing time for a lot of people. For many retailers it is the final straw, when they have to admit that even the December shopping binge has failed to provide enough cash to keep the business trading legally.
As a result, insolvency practitioners and shrewd business journalists will be watching like hawks this week for filings at Companies House, when those in dire straits need to admit that they are planning to call in the receivers or look for a fire sale buyer. Read more
One principle underpins Walt Disney Parks and Resorts: the product is not Mickey Mouse, castles, rollercoaster rides or parades; it is the whole “guest experience”. Read more
The return of the “soap opera” with a digital twist – thanks to multi-million pound deals struck by Unilever with Viacom and News Corp – is a further indication that there really is nothing new in marketing.
As I wrote recently, in relation to the spat between BrewDog, a Scottish independent brewer, and the beverage giant Diageo, the tools of communication and promotion may change, but the underlying challenges and responses are the same as they ever were. Read more
With scent and skincare giant Coty’s $10bn bid approach for Avon Products, the descendants of Johannes Benckiser have put Bart Becht straight back to work.
Lady Gaga’s first perfume 'Monster', made in conjunction with Coty, is due to be released this year. Image by AFP/Getty
Mr Becht stepped down last summer as a highly acclaimed (and paid) chief executive of Reckitt Benckiser, the listed household goods and personal care group in which private family company Joh A Benckiser has a 15 per cent stake. By November, with the applause of Reckitt’s investors still ringing in his ears, he had stepped in to chair another Benckiser holding – unlisted Coty, the biggest fragrance company in the world, with perfume brands from Calvin Klein to Lady Gaga’s forthcoming ‘Monster’.
For all the soft-focus marketing of Coty’s products, Mr Becht’s “Dear Andrea” letter to his Avon counterpart Andrea Jung is as direct as the sales pitch for his former employer’s popular Cillit Bang grime-cleaner. The Dutchman writes:
We were surprised and disappointed that Avon’s Board of Directors has no interest in a discussion to explore our acquisition proposal…. We do not understand how your Board’s unwillingness to discuss our proposal can serve the best interests of Avon’s shareholders.
Rakesh Kapoor has been in charge of Reckitt Benckiser for less than a year but already he’s changed the world. Or, more accurately, he’s changed Reckitt’s view of the world, by merging its European and North American operations into one Amsterdam-based unit, and splitting the rest of the world into two reporting areas.
Like three ugly sisters, the new operations are called Ena, Rumea (Russia, Middle East, Africa) and Lapac (Latin America and Asia-Pacific). Stefan Wagstyl has pointed out on the FT beyondbrics blog that the clear message is that “emerging markets matter” for the multinational consumer goods group.
Reckitt’s change is more than a laborious redrafting of the corporate organigram. Pankaj Ghemawat wrote in World 3.0 that General Motors’ decision to make many of its non-US, non-European operations report to China was “a basic realignment of power”. The impact of Reckitt’s move to aim resources more directly at growing markets could be just as profound. Read more