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ECT News Community   »   CRM Buyer Talkback   »   Re: The New Social Paradigm and HP's Pain

Re: The New Social Paradigm and HP's Pain
Posted by: Denis Pombriant 2011-09-28 10:12:04
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Last week's doings at HP exposed a lot that few of us ever think about. The basic story is that board member Meg Whitman replaced recently minted CEO Leo Apotheker. The company's stock price has been floundering for a long time, and many people on and off the board had little confidence in the job Apotheker was doing. But that's the CliffsNotes version. According to an article in The New York Times about the "process" employed by the board of directors for selecting Apotheker, it seems the board members had not been playing nice in the HP sandbox for many years.

Meg Whitman, Leo Apotheker and the Silicon Valley Spring
Posted by: mod 2011-09-28 12:52:59 In reply to: Denis Pombriant
I won't hold my breath waiting for it to happen, but one of the best outcomes if there is indeed more corporate transparency and a true "Silicon Valley Spring" would be for these companies to get away from the cult of the superstar CEO. Boards hire people based on reputation or perceived accomplishments and these people generally turn out to have no idea about the business they're coming into or the culture of the company. So it takes them at least a year to get up to speed, and in the meantime they start making bad decisions almost immediately, digging the company into an even deeper hole, or at best not making the progress the board thought they were hiring for. Growing leadership talent from within seems either to be a lost art any more, or at least an art not valued by boards of directors. Tim Cook will probably do better at Apple than Meg Whitman will at HP, a company for which her background would not seem to make her well-suited. It remains to be seen how the other high-profile CEO opening (Yahoo) will be handled...
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