German engineering firm Siemens has a new boss. Meet Joe Kaeser, the man who replaced Peter Loescher to man the helm.
Now, the first thing we would notice is that Kaeser is one of those corporate executives who grew up in his, say, first company. See, just after his business administration studies he immediately joined the organization in 1980; and then worked in various assignments and all the way to becoming Siemens’ chief financial officer in May 2006.
And with Kaeser’s dedication to the company, so came accomplishments. From developing a company-wide performance controlling system to preparing the company’s NY stock market listing to the worldwide conversion of its accounting system to US GAAP to the design and execution of the Fit4More transformation program … all the way to the management and restructuring of customer loans and working capital. Well??
And so, by July 2013, Siemens announced the replacement of Loescher.
But why replace Loescher just because one of the “guys” is doing well? Everybody has his time, and people and business got to move – to grow. In this case of Siemens’ succession, we know that the advantage of promoting an “insider” is that he already experienced the company, he knows what’s going on in the locker room, and most of all, he has adapted to the culture.
When Kaeser took the reins, one crucial thing he did was to calm the people of Siemens as well as the media who went on an outburst in declaring a shaken fortress. Changes do happen. It’s inevitable; but only good captains could stabilize the ship in rough seas. That’s what the new chief is now doing.
But whoa! Don’t let that lead you to ignore “outsiders”, mind you, almost any qualification can be offset – for everything in business is a case to case basis. Otherwise, no insider would fail, and everything within would just be rosy.
Happy endings happen only through perseverance and timing.
What’s your take?