Management & Leadership

How to pick the next Bank of England chief

24 Apr 2019

The hunt is on for a replacement for Governor Mark Carney, who leaves in early 2020. Only talented economists with top-notch central bank experience need apply. Creativity and grit are also required. Breakingviews’ interactive yardstick helps sift through the runners and riders.

Boeing has a chance to get ahead on governance

23 Apr 2019

The $212 bln aerospace giant is facing calls to strip chair-CEO Dennis Muilenburg of the former title. Half of the S&P 500 now split the roles. Boeing's sluggish response to 737 MAX crashes shows why it makes sense. An 11 pct fall in the share price provides a handy excuse, too.

Kraft Heinz new boss is a good palate cleanser

22 Apr 2019

Miguel Patricio is not an entirely fresh ingredient for the food company – he ran marketing at AB InBev, created by Kraft’s second-largest shareholder. Both companies have underperformed in recent years. That said, his focus on marketing may break the company’s holding pattern.

Terry Gou’s presidential hopes will rock Taiwan

18 Apr 2019

Citing support from a sea goddess, the Foxconn founder is running for the top job. Beijing links and a history of outsourcing to cheap mainland factories will be at issue, when the economy is weak. The campaign will also unsettle relations between Taipei, Washington and Beijing.

JPMorgan’s CEO parlour game is far from over

18 Apr 2019

Putting finance director Marianne Lake in charge of consumer lending is an unsubtle hint about who might one day replace Jamie Dimon. She makes for a solid succession candidate. A lot can happen at a mega-bank in four years, though. Hot-seats have a way of becoming jump-seats.

CEO exit puts ABB overhaul on firmer footing

17 Apr 2019

The Swiss-Swedish group has abruptly parted company with boss Ulrich Spiesshofer – who presented ABB’s revamped strategy only two months ago. There’s no immediate replacement. Still, a 5 pct share bump suggests even if investors like the new direction, they fancy a new helmsman.

Bezos breathes down overpaid Oracle bosses’ necks

11 Apr 2019

The Amazon founder’s bold bets helped the e-commerce giant create a $30 bln cloud unit. His annual letter talks about winning more commercial-database business. It’s a warning for Oracle’s top executives, who will need to better justify their pay if they’re to see Bezos off.

Viewsroom: Wells Fargo searches for a leader

11 Apr 2019

The U.S. bank may be tempted to recruit from splashy peers like Goldman Sachs. But there are better reasons to poach from smaller firms. Meanwhile, the $170 bln Chinese liquor maker Kweichow Moutai is worth more than Diageo. Breakingviews columnists discuss the firewater’s draw.

U.S. CEOs put their heads in the clouds, literally

11 Apr 2019

Most of the 100 biggest U.S. companies let executives use company aircraft for personal trips. These perks tend to be a small part of executive pay but are red meat for social and financial activists. Some small firms are flagrant too. Yet there are some role models out there.

Hadas: Biased central bankers beat foolish ones

10 Apr 2019

President Trump’s pick of loyal supporter Herman Cain as a U.S. Fed governor is a bad idea. Not because of his partisan bias, since central banks are inherently political. But monetary policy is too poorly understood and unpredictable to be entrusted to amateur ideologues.

Wells Fargo CEO is a B-lister’s job of a lifetime

9 Apr 2019

Whoever replaces Tim Sloan atop the $222 bln U.S. lender needs three qualities: banking experience, an ability to deflect political brickbats and patience for financial rewards. Those chasing status needn’t apply – which rules out most of Wall Street’s leaders-in-waiting.

Letters to shareholders: a guide for the busy CEO

5 Apr 2019

Leaders like JPMorgan CEO Jamie Dimon are enthusiastic recent adopters of the form mastered by Berkshire Hathaway’s Warren Buffett. But penning sweeping views of what ails the world and the dangers of short-termism takes time. Breakingviews offers a template for corporate chiefs.

Apple tea leaves suggest worrying shift on M&A

4 Apr 2019

The $920 bln firm has reduced stock buybacks, its merger specialist now reports to CEO Tim Cook, and its services push needs more oomph. That all suggests bigger deals are coming. Yet one Apple virtue has been avoiding large takeovers that distract from making compelling gadgets.

Super leaders don’t need supervoting shares

3 Apr 2019

Lyft is one of many growth companies with dual-class stock that entrenches its creators. But Steve Jobs dominated Apple without such wheezes. Elon Musk’s survival at Tesla isn’t just down to governance quirks. And Uber seems better off freed from the control of its architect.

UK army contractor’s next target lies overseas

3 Apr 2019

Submarine-fixer Babcock has hired Ruth Cairnie as its new chair. She inherits a moribund share price and a firm weighted to UK contracts that may wither if the opposition Labour party gains power. Further hiking overseas revenues is the first thing to push for.

Larry Fink keeps succession options wide open

2 Apr 2019

BlackRock is empowering regional managers and tapping a new executive to accelerate its push into private equity. Chief Larry Fink hopes the shakeup will reignite growth after a difficult year. They also leave him with a wealth of choices over who might one day take up his role.

Vincent Bolloré eyes honourable surrender in Italy

29 Mar 2019

Vivendi, controlled by the French tycoon, is withdrawing its plan to throw five directors appointed by Elliott off the board of Telecom Italia. The move spares Bolloré a messy defeat, but still leaves him stuck with rival Paul Singer. State investor CDP could act as a peacemaker.

Wells Fargo’s fall guy finally falls

28 Mar 2019

Tim Sloan’s long history as an insider at the scandal-prone U.S. bank tainted his tenure as chief executive. Yet he dealt effectively with much of Wells Fargo’s historic mess. The worrying thing is that despite Sloan’s obvious challenges, the board isn’t ready with a successor.

Shareholders suffer in EssilorLuxottica civil war

28 Mar 2019

Chairman and top shareholder Leonardo Del Vecchio is taking his conflict with the eyewear giant’s management to an arbitration court. The open warfare will slow merger integration at the 41 billion euro company. Investors are already counting the cost of infighting.

Staley puts neck on the line in Barclays reshuffle

27 Mar 2019

A shake-up of the investment bank will see its three main chiefs report directly to CEO Jes Staley. The ploy could thwart pressure by investor Edward Bramson to scale back the unit. But the big boss is putting his own job on the line with a pledge to improve its mediocre returns.