Management & Leadership

How HSBC can heal the scars of its CEO battle

29 Aug 2024

The $160 bln lender’s retail and wealth head Nuno Matos left after losing out on the top job to Georges Elhedery. The bank now has an empty CFO post, and a lack of potential future leaders. Recruiting heavy-hitting outsiders, like Citi’s Jane Fraser has done, would help.

Telegram CEO arrest is fuzzy warning to Big Tech

28 Aug 2024

Paris prosecutors detained Pavel Durov as part of a probe into illicit activity on the app. The specifics of the case and French law have little read across for rivals like Mark Zuckerberg or Elon Musk. Yet a global scandal will heap pressure on platforms to clean up content.

New EU antitrust tsar has better tools, harder job

27 Aug 2024

The European Union will soon have a new competition commissioner. Margrethe Vestager’s replacement has greater scope to go after Big Tech and Chinese subsidies. But he or she will also have to defend the single market from the assault of EU members’ national industrial policies.

Nestlé’s CEO switch serves up unappetising menu

23 Aug 2024

The $275 bln consumer-goods group is replacing its boss of eight years, Mark Schneider, with insider Laurent Freixe. Weak sales and a sliding valuation probably justify the abrupt change. But investors will fear it heralds a more painful turnaround than they previously expected.

Estée Lauder makeover will be more than skin deep

20 Aug 2024

The $33 bln beauty giant is seeking a replacement for CEO Fabrizio Freda, who plans to retire after 16 years in charge. His successor will have to tackle weak demand in China and subpar profit margins. The biggest challenge, though, will be handling the controlling Lauder family.

Luxury’s legal pain is new threat to valuations

20 Aug 2024

Italian prosecutors allege sweatshop-like worker conditions at subcontractors of houses like LVMH’s Dior. That’s a bad look after recent luxury price rises. But if the sector has to hike costs to improve its supply chains, investors may find a new reason to mark valuations down.

Starbucks piles whipped cream atop CEO pay problem

15 Aug 2024

With a potential $145 mln package, new boss Brian Niccol would earn over 10,000 times the average barista. Based solely on the $20 bln of market cap he added, he’s in theory worth far more. Because vibes factor into valuing executives, it’s no wonder compensation keeps rising.

Starbucks CEO starts with venti expectations

13 Aug 2024

The coffee chain added over $20 bln in market value as it named former Chipotle chief Brian Niccol as its new boss. Niccol has useful skills, from digital marketing to steering founder-led companies. Starbucks is bigger, though, as are the personalities he will have to navigate.

Drahi-for-Bharti swap gives BT partial relief

12 Aug 2024

French mogul Patrick Drahi is offloading a 25% stake in the British telco worth about $4 bln to India’s Bharti. BT CEO Allison Kirkby can stop worrying about her indebted shareholder. Alongside Deutsche Telekom and Mexico’s Carlos Slim, her share register still looks crowded.

DBS CEO aces succession, sets high bar

8 Aug 2024

Piyush Gupta is leaving the $72 bln bank after 15 years in charge. He put it on the Asian map, logged stellar returns, and ensured a Singapore-style drama-free transition of power. Incoming boss Tan Su Shan is a solid choice to steer DBS through its next trickier growth phase.

Glencore may be the next UK listing to head west

7 Aug 2024

The $61 bln miner had planned to spin off its coal unit via a New York IPO. Given the pollutant’s profit remains alluring, it now won’t. But Glencore boss Gary Nagle could weigh up US investors’ greater fondness for fossil fuels, and opt to move the whole company instead.

Succession stakes in India Inc keep rising

7 Aug 2024

Gautam Adani, 62, says his four heirs will co-run his sprawling $200 bln infrastructure empire when he retires. That aims to retain the benefits of size. All three of India's top business families face a similar challenge. Their plans will shape the $3.5 trln economy.

Volkswagen’s restart faces further roadblocks

1 Aug 2024

The bloated $56 bln German carmaker is cutting costs further, as it tries to hit bold profit targets. CEO Oliver Blume’s 6.3% operating margin is better than it looks. But Chinese competition and stringent carbon targets make for a tricky road ahead.

Boeing’s new CEO has vital copilot training to do

31 Jul 2024

The $120 bln plane-maker recruited former Rockwell Collins boss Kelly Ortberg to lead a tortuous turnaround. His engineering and aviation experience will help, as should some newly hired deputies. Along with the many operational challenges, a solid succession plan is a priority.

HSBC’s growth engine has insufficient horsepower

31 Jul 2024

Wealth revenue is rising at the $167 bln lender, but not necessarily fast enough to offset the hit from falling rates. The key transaction-banking unit, meanwhile, is stagnant. To fix it, new CEO Georges Elhedery will need investors’ patience and a dose of economic good luck.

SocGen’s valuation salvation may lie in a breakup

29 Jul 2024

The 19 bln euro French bank trades at a 60% discount to rivals – the widest gap in a decade. None of its core units are particularly attractive, making a revival tough. But selling listed holdings, worth 8 bln euros, could fund a deeper restructuring and make M&A more plausible.

Murdoch media galaxy would be better with one sun

25 Jul 2024

News mogul Rupert Murdoch reportedly wants to entrench his son Lachlan at Fox and News Corp, rather than spreading power among four siblings. For other shareholders, stability matters; Fox has beaten peers with Lachlan as CEO. Better an emperor than a squabbling committee.

Anglo American has a job to exit post-BHP hole

25 Jul 2024

The $38 bln miner unveiled better-than-expected half-year earnings. But after fending off his Australian suitor, Anglo boss Duncan Wanblad has to give impatient investors good news on his self-help plans. Coal and diamond headaches make that increasingly hard to do.

Trump 2.0 might be the same, but much more

18 Jul 2024

After an earth-shaking few weeks in US politics, the Republican presidential candidate’s odds of returning to the White House look higher. In this Viewsroom podcast, Breakingviews columnists discuss what a second term might look like, and why Trump might be empowered this time.

Boeing CEO hunt involves checking many boxes

17 Jul 2024

Repairing the battered jet-maker is a once-in-a-career challenge. Dave Calhoun’s successor will have to bolster cash flow, reduce factory snafus and design and fund a better plane. They’ll need precision, tech smarts and, crucially, a willingness to gamble their reputation.