The time has come for a changing of the guard at Honda, as current president & CEO Takanobu Ito prepares to step down and cede control to Takahiro Hachigo, a veteran R&D engineer with more global experience.
Big changes are afoot in the top ranks at BMW, as the Bavarian automaker has announced not just one, but several appointments in the top floors of its towering headquarters in Munich in what the company itself is referring as "a generational change" in its leadership.
Ferrari is undergoing a big shakeup, and not just on the Formula One racing grid. It's just parted ways with its longtime chairman, is being spun off from the rest of the Fiat Chrysler Automobiles group and will soon launch its initial public offering on the stock market. But one thing it's not about to change at this point is its CEO.
What do you do if you're in a job with no upward mobility? Admittedly, most of us just stick it out while secretly hoping our boss is sacked for all those paperclips he's been swiping, netting us a nice, shiny promotion. Then again, most of us aren't the number two at Renault, like Carlos Tavares.
Ford CEO Alan Mulally must have an impressive trophy room. The executive was just voted to be the 2011 CEO of the Year by a group of fellow head honchos, adding yet another honor to his already lengthy list of awards. Chief Executive Magazine readers nominated those leaders they felt deserved a tip of the hat, and the top 10 names with the most votes were then submitted to a selection committee for a final decision. This year's committee was comprised of executives leading companies ranging from
Your eyes doth not deceive you: Fiat has a new CEO. But before we get ahead of ourselves, Sergio Marchionne isn't going anywhere. The Italian-Canadian executive mastermind directing both the Fiat and Chrysler groups is not relinquishing his position. But a number of years ago, he did hand over control of the Fiat brand to a subordinate. That position has changed hands a couple of times since then, and has now been handed over to a new talent.
Maserati has undergone repeated change-ups in its senior management over the past couple of years, both in Modena, where the automaker is based, and in New Jersey, seat of its North American headquarters. In it's latest announcement, the company's North American chief executive has been named as commercial director for the parent company as well.
With the unification of Fiat and Chrysler, we're been expecting major changes in the corporate structure of the two automakers and their various brands. Most recently, Lancia chief executive Olivier Francois was named head of the Chrysler division, leading to reports that the two brands – similarly positioned in the sub-luxury premium segment – will be integrated into one unit. Now similar reports place the Abarth, Maserati and Alfa Romeo brands under common leadership.
Things could hardly have played out worse for Honda. It has poured what surely amounted to billions of dollars for years into its Formula One team with little effect. Then it brought in Ross Brawn, only to withdrew its support from the squad, then it sold the entire operation to Brawn while paying out big bucks to avoid an even bigger severance bill. And only then did Brawn turn the F1 team into a winner. That'd be enough to send some automakers scurrying to get back in the game, but not Honda.
After weeks of speculation, Fiat confirmed today that its CEO, Sergio Marchionne, will assume the same role with Chrysler once it exits bankruptcy. According to statements from the Obama administration, Chrysler could emerge from "surgical bankruptcy" in as little as 30 to 60 days, after which Chrysler's current chief executive Bob Nardelli will step down and Marchionne will step in.
The next chief executive of Chrysler will be tasked with bringing the company out of bankruptcy, restructuring into a profitable business, repaying government loans (if and when they do so at all), integrating Fiat technology and retaining jobs wherever possible. Oh, and he or she will have to do it all on no more than $500,000 a year. This according to the latest reports, based on new Treasury Department regulations.
If you were surprised by the "resignation" of GM chief Rick Wagoner late last month, get used to the idea. Chrysler reportedly has some major management changes in store as well, including a new seven-member executive board including representatives from Fiat and the Obama administration's automotive task force. But while Bob Nardelli may stay on to chair that board, Chrysler's next CEO may not even be American. Sources close to the ongoing negotiations between Chrysler LLC and the Fiat Group su