CEO who are human beings, they are also allowed to make mistakes. They of errors may will sacrifice off you of 401K plans (401K plans also said 401K articles, 401K plans began Yu in the early 1980 of the 20th century, is a by employees, and employers common payment established up of full Fund type of endowment insurance system, is refers to United States 1978 domestic tax law under released of No. 401 article k items articles of provides, 1979 are legal recognized, 1981 also append has implementation rules, in the 1990 of the 20th century quickly development, Gradually replaced the traditional social security system, became United States preferred by many employers of social security schemes. ) And your work, but that’s life. In addition, this is the reason why we have a Board of Directors, the Board dismissed CEO of bad, hire better CEO, regulatory policy Board will usually avoid executives errors to operating losses and to avoid the resulting billions of shareholder value. At least, in theory, is the. In the past decade or so, a few boards were notorious for failing to do their work, they will have excellent brand become the laughing stock of enterprises. Although most of these boards on the significant loss of market share and shareholder value were responsible for the loss, but this is not my sole criterion for evaluation. After all, there are a variety of economic, market and competitive factors, several factors can lead to even more powerful company collapsed. Here is I think the past ten year Super incompetent in performance of the main functions of ten Board, the Board’s primary function is to recruit capable CEO to run their companies, preventing them from doing stupid things such as high risk of engaging in ridiculous deals. 1. Sony In 1997 Harris poll (Harris Poll) named Sony United States most respected brands. The following year, the company’s President and Chief Operating Officer Nobuyuki (Nobuyuki Idei) was named Fortune magazine Asia’s person of the year. Since that time Sony started going downhill. Sony Media “integration” and the need to control the name of sensory needs of entertainment content, make Sony consumer electronics products lose focus and leadership abandoned its once-dominant market share, were obtained by companies like Apple and Samsung. When Sony’s IDEI began to lose control under the supervision of, the company’s Board of Directors, Chief Executive of the baton passed to the huohuade·SI Howard (Howard Stringer), in the case of company falling he more or less can be said to be the end. Later, Sony lost up to billions of dollars and massive layoffs, Sony’s share price to its lowest prices in decades, but has not yet hit bottom. 2. Kodak About 9 years ago, Kodak Board employing andongniao·peileisi (Antonio Perez) as CEO of the company, pay well, and quietly looked at his failure to cut costs and to reverse the legacy of the company. During his tenure, the company’s revenue plunged, the company’s deficit of billions of dollars, its share price fell by more than 99%. Yes, Peres was still in charge of Kodak, even in applications for Kodak in January United States bankruptcy law after the 11th chapter of bankruptcy protection, he remains in charge of Kodak. 3. HP Hewlett-Packard’s Board of Directors since 1999, employing “rock star” Kali·feiaoruina (Carly Fiorina) as CEO and supported her since the controversial acquisition of Compaq’s plan, the Board did the only right thing: employment of Mark Hurd (Mark Hurd) as CEO. But Hurd was reversed after one of the most successful in the history, the Board dismissed he because of the sex scandal that never happened. Then, the companies employ Leo (Leo Apotheker) acted as CEO, he has because nearly destroyed before Germany software giant SAP was dismissed, and Hewlett Packard in many members of the Board also did not see him before hiring decisions have been made. Turns out that hiring Mr Apotheker is a disaster, he engaged in 11 months after being fired. As the legendary venture capitalist and former HP Director Tom · Perkins (Tom Perkins) as summary, HP must have the “worst of the commercial history of the Board of Trustees”. 4. the United States Bank Investment fund managers over the past five years or so the worst is that the big banks (you do not think this ironic? ）。 United States Bank Countrywide Financial Corporation (Countrywide Financial) and securities company Merrill Lynch (Merrill Lynch) acquisition is the worst in the history of the company’s strategic decisions. Since then, the company is a mess and then another: bad debts, taxpayers benefit, outrageous bonuses, Wikileaks, layoffs, mortgage-backed action, as well as around foreclosure, interest rates on credit cards and loans and other suspicious behavior. Company brands may suffer permanent damage.5. Sprint (Sprint Nextel)The peak of the Internet bubble, federal regulators had disrupted Sprint 120 billion dollar acquisition of world communications (WorldCom) plan. It seems to be so close, yet so far away. Today, Sprint’s market capitalisation is about $ 9 billion, this is due to the company in 2004 with nakesitaier (NEXTEL) disastrous merger and has since failed to reverse the situation caused by chronic results. Three-digit CEO, plus a Board of Trustees is United States telecommunications market permanent third telecom operator. This is not a good ranking, the company’s stock was trading at near 1985 IPO price.6. Alcatel-Lucent2006 Alcatel and Lucent and the two companies after the merger, the Board of Directors of the two companies hope their respective complementary businesses can go beyond the cultural differences of the two companies. Lovers of this does not exist, on the contrary, France Alcatel-Lucent and United States Lucent who tied the knot was a train accident. After you have suffered a loss of US $ 8 billion, the Board dismissed CEO in 2008, Lu Sibo (Pat Russo) and appointed the United Kingdom telecommunications ex-CEO Ben·weihuaen (Ben Verwaayen) as CEO. This appears to be a good choice, but it did not say what the thing itself. Profitability remains elusive, stocks trading near historically low levels, compared with the peak period fell by 99%.7. dynamic Research Corporation (hereinafter referred to as RIM)It’s hard to believe, nine years ago, a little-known Canada paging company has introduced and launched the BlackBerry smart phone craze. Five years later, RIM leads the world, and then there’s the iPhone, Google’s Android platform and the birth of the tablet. On the development of these new devices from this market would run out after distribution like multitouch screen, virtual keyboard and a large number of devices emerging in the third party application. At the same time, RIM prudent boards and their joint CEO in the company lost its helped to create markets and losing over US $ 70 billion in market capitalization in fact almost nothing done.8. Nokia14, the Nokia as the world’s leading mobile phone manufacturers have been thought to be unstoppable. But in its former CEO Kallasvuo (Olli-Pekka Kallasvuo), under the leadership of the Finland giants in the global market changes a little more or less of the most worse early in the Smartphone market leader. Directors of the company expelled from Mr Kallasvuo and in 2010 the company appointed former Microsoft executives shidifen·ailuopu (Stephen Elop) as CEO, he abandoned the popular Nokia Symbian operating system, support for the Windows Phone platform, a move controversial. These plans is how to do it? Last quarter, Nokia’s revenues fell by 30%, volume of smartphone sales declined by 50%, the company’s loss amounted to $ 1.7 billion. Lowest price since trading the stock is 15 years.9. YahooYahoo’s Board is really five years ago out of Terry Semel (Terry Semel) and appoint never had any experience of company co-founder Jerry Yang (Jerry Yang) for the CEO to reverse the fate of the Internet portal? This is almost die for Yahoo, especially since the resignation of then Chairman luoyi·bosituoke (Roy Bostock), of course, is true for Yahoo shareholders. Then, the company has foolishly rejected Microsoft’s takeover bid of $ 33 per share; a lot of talent left the Internet company; frequent recruitment and dismissal, but there was no effect; CEO Carol bartz (Carol Bartz) and seems indifferent to any matters relating to company policies. Then, employed by the Board of Directors of the company sikete·tangpusen (Scott Thompson), three months after activist shareholder Dan·lebu (Dan Loeb) claimed that Thompson on the academic fraud, said computers in the curriculum vitae does not hold a degree, Thompson left after three months at the time of Yahoo.10. RadioShackIf I were to elect a long-term mismanagement, lack of operational range, order policies, have the worst service you can think of, employment guarantee with every new CEO good things will follow but in fact nothing has made companies, this company will be RadioShack. If you invest $ 1000 in the 1982 RadioShack listing, you can get $ 700 today. In contrast, if you track the Dow Jones industrial average index, you can get $ 15,000. Its share price nearly dropped 90% in the past decade, was in fact “The Shack” has dropped by 90%.
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e2}iE7 Article Source： Gold station-CEO
