My local football club recently told fans about a candidate for the vacant post of manager. “Although I am 15 years of age, and lack much coaching experience,” his email read, “I am very skilled at the computer game, Football Manager . . . ” Read more
“National interests in the sphere of strategic-level business have all but disappeared,” claims a senior executive of EADS in a new book. But the opinion of Lutz Bertling, chief executive of the group’s Eurocopter subsidiary, is now being tested in battle, as national governments wrangle over what a merger between EADS and BAE Systems would look like.
To be fair, the German executive’s chapter – “Commercial Top Strategic Leadership: A Helicopter View” – was written before the EADS-BAE talks became public. But the question of how Mr Bertling’s personal views might apply to the aerospace and defence merger was raised at Thursday’s launch of In Business and Battle, a “cross-cultural, cross-sectoral and international” anthology of insights into strategic military and civilian leadership. The discussion at London’s Royal College of Defence Studies – where Mr Bertling first presented his ideas – was non-attributable. But as one of the distinguished guests said: “Consolidation is right, but whether this is the particular merger that should be backed is still open to some debate.” Read more
In the annals of odd academic tasks, trawling through nearly six decades of obituaries for chief executives ranks highly. But, in doing so, Timothy Quigley of Lehigh University has disinterred interesting evidence that the all-powerful CEO is alive and well.
For a paper to be presented to next month’s Academy of Management annual meeting in Boston, Prof Quigley looked at the market’s response to 193 sudden CEO deaths (with causes from plane crash to cerebral haemorrhage) between 1950 and 2009. The magnitude of investors’ reaction, whether negative or positive, was greater in recent years than in the early part of the period. In fact, the share price rise (or fall) for deaths announced between 1990 and 2009 was more than double the reaction in the 1950s and 1960s. Read more
General Electric’s thinking on leadership has shifted, according to an article in Wednesday’s Wall Street Journal: from breadth to depth. The WSJ writes:
[GE] for decades had made a rigorously applied but generic management tool kit central to its identity. Like all companies, GE wants some of both traits in its leaders, but the balance has tipped toward expertise.
I’m doubtful that the shift is quite as earth-shaking as the WSJ implies. Expertise is one of several attributes GE has long sought in its leaders, along with External Focus, Clear Thinking, Imagination & Courage, and Inclusiveness. In his 2010 letter to shareholders, chief executive Jeff Immelt added some new ones – including the eccentric-sounding goal that its leaders should be “humble listeners”. It already adds up to a pretty demanding checklist, as I wrote at the time. Read more
Ricky Ponting has resigned as captain of the Australian national cricket team, but he intends to stay on as a player. If he were chief executive of a business, however talented, he would never try to pick up the threads of his earlier career as, say, a top salesman. Why not?
Ponting, 36, was the most successful international cricket captain ever, but he was widely perceived to have failed recently. His team just lost to India in the quarter-finals of the World Cup. Yet as a batsman, Ponting still has plenty left to offer. Indeed, the World Cup quarter-final saw him return to form, scoring a typically brave century. As he told the press in relinquishing the leadership:
Now that I won’t have all the extra responsibility of the captaincy, I think I can turn myself into a better player than I’ve shown in the last six months.
When it comes to his annual letter to General Electric’s shareowners, Jeff Immelt is no Warren Buffett. Not for him the jokey anecdotes and fables preferred by the Omaha billionaire in his own yearly communication. But the GE letter is still worth a read, if only because of the industrial group’s status as a training ground for future chief executives of global companies. Read more