MBS Inspiration
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The MBS Group
is one of the world’s leading executive search firms operating exclusively in Retail, Consumer and relevant technologies, and the most successful sector-specialist firm in the UK
Who wants to be a CEO in 2012?
high-profile departures
The day that António Horta-Osório left Lloyds Banking Group for an indefinite leave of absence due to “extreme fatigue”, £1bn was wiped off Lloyds share value. The 47-year old chief executive had been in the post for just seven months.
Last month, as China Dongxiang, China’s leading sports apparel retailer, announced that its CEO, Sandrine Zerhib, was quitting less than a year into the job, the Hong Kong traded shares dived 8.4%. The former President for Adidas China cited “personal reasons” and “other business commitments” as reasons to go.
This year alone has seen the premature departure of an alarming number of senior directors from high-profile roles with disastrous consequences for the companies they serve.
In January Jeff Kindler, chief executive of Pfizer, left his office to “recharge (his) batteries;” in May Masataka Shimizu, president of Tokyo Electric Power, the company at the centre of Japan’s nuclear crisis, left as a result of “overwork and lack of sleep”.
We’ve seen highly talented individuals reject opportunities, which they’d be well-suited to, in favour of a role which will make the most of their skills but will shield them from the public demands of the top job.
Clearly something is wrong with the way companies expect talent to take on a role which may simply be too challenging for one person to tackle. On the recent debate over the question of remuneration it seems that, no matter how large the financial rewards, some jobs remain impossible to do.
This report or extended observation, illustrates just some of the reasons why things have to change if corporate companies are to attract and retain the best people. I would love to hear your views: moira@thembsgroup.co.uk
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