Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 301

Expert comment on Toshiba appointing Satoshi Tsunakawa as its new chief executive

Posted by fidest press agency su sabato, 7 Mag 2016

Warwick Business SchoolSatoshi Tsunakawa as its new chief executive Christian Stadler, of Warwick Business School, is a Professor of Strategic Management and researches succession planning as part of long-term success and is author of Enduring Success. Professor Christian Stadler said: “Toshiba’s decision is right. He has a strong record, with experience including the US market, strategy, and sales. In a highly diversified firm, one of the main challenges for him will be to understand the businesses he had less exposure to.”After a scandal, shareholders and the press typically call for an outside CEO, somebody who can offer a fresh start. While this seems sensible on paper, it is difficult in large organisations for an outsider to master the complexity that takes years to understand.
“In my work on companies which succeeded for more than 100 years, successful companies prefer internal candidates; only 3.2 per cent of the CEOs were outsiders. Interestingly that pattern also holds after scandals.”For example, when Phil Watts resigned after Shell overstated its reserves, Jeroen van der Veer, a Shell-lifer, took over. He managed to make substantial changes during his tenure at the helm of the company, precisely because he was an insider.”Siemens opted for a CEO from outside, Peter Loescher, when it was caught up in a bribery and corruption scandal. He did a great job, dealing with compliance issues, but eventually he was forced to resign, as he was less successful in other business issues. This highlights the danger of appointing outsiders: they present a clear departure from the past, but they are less able to make internal changes.”An important thing to bear in mind: the top job is a lonely job. Most people working for the CEO want to please them. So to learn what’s really going on is not an easy task. Insiders are at an advantage here as they have built networks over their career that allow them to also connect with people a bit further down the corporate ladder.

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