CEO’S future of the company
You must have seen the news that some companies have changed their CEOs recently. For example, Boeing and Starbucks have both appointed new chief executives. Let’s analyze how organizations should approach leadership changes and how it impacts their operations.
Alan Lafley is the Chief executive of global consumer goods giant Procter & Gamble. He held that position from 2000 to 2010 and was the CEO. He also rejoined the company from 2013 to 2015. He emphasises the statement there’s only one cat who’s on the hot seat.
Holding such a high position is equated
With P&G selling everything from Head and Shoulders shampoo to Fairy washing up liquid, Pamper app is not a small startup. It has more than 5 billion customers around the world, and its emphasis on work currently employs over 107,000 people who are associated with P&G.
Mr. Alan Lafley talks about how the situation of holding such a high position is equated to that of a CEO or a manager of one of England’s Premier League football teams. Whenever you go to your job, it comes with a massive range of risks, and if results are not as expected, you may get sacked.
Falling sales caused….
He furthermore discusses the fact that if the season is bad, the football players have to leave. The coach or the manager is not going anywhere.
Whenever we talk about coffee giant, one company which struck our mind Starbucks, they are announcing that they will proceed to change their CEO in August. It happened due to the falling sales caused by various factors including complicated menu, tough competition in countries like China and basically boycott links to the war in the Middle East countries.
Ray of hope from the new boss
There is a Ray of hope from the new boss Brian Niccol who can transform the fortune of this Starbucks company.
To understand the background, we need to emphasize how he was part of running a US restaurant chain. You must have also heard about Chipotle. Now, when it comes to Starbucks, he is earning more than 100 million dollars in his first year. He also gets the opportunity to enjoy a life of luxury by using a private jet to commute thousands of miles from his home in California to the company’s headquarters in Washington state, Seattle.
Turn any company’s fortune around
By analyzing the state of the company, one may get the idea that the company has high hopes for him and his ability to turn any company’s fortune around. This is also echoed by executive coach Alisha Cohen. She emphasizes that the CEO’s compensation package is a parameter that showcases the company’s expectations from the CEO. The package is decided by the board of directors and it reflects the company’s high expectations from the CEO they are appointing.
Was welcomed by investors all around the world as Mr. Nicholas’s appointment made Starbucks shares jump by 24.4% in price in a day, and when it was announced, Chipotle’s stock fell by 7.5% on the same day.
Critical to company success
Canadian entrepreneur Marcia Kilgore is behind the massive skincare brands Soap and Glory and Beauty Pie. She was also part of Plus footwear from Fitflop. She also analysed the role of CEO and commented that it’s a complicated job along with demanding, and it is very critical to company success.
Furthermore, it is important for a CEO to understand how to manage different streams of work, organize tasks, and prioritize them based on the situation.
Teams are functioning within the company
She analyzes how you see it. You need to pay attention to how different teams are functioning within the company. They should not just be walking together harmoniously; time and money should be saved. Energy should not be wasted on things that won’t lead to progress. It is critical for a company’s success that a CEO maintains these aspects.
We cannot deny the fact that failure can take place, although this failure can also lead you to make the right choices and guide your team in the right direction. That’s why in 2000, P&G chose Lafley as their leader.
What needs to be done
Mr. Lafley also talks about how a CEO is not someone who wants to do everything by themselves, although they need to enable and empower everybody in the organization to do what needs to be done. He added that they have more than a lakh people looking to their CEO to understand two phenomena: what happened and what they are going to do next.
The new CEO of Starbucks is going to provide customer service and innovative products. They will begin with confidence and be on track soon. The CEO commented that having a proper plan and communicating with employees is an important task. He used to fly to different parts of the world just to meet his staff in person.
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