Steve Ballmer, the boss of Microsoft, was elected the worst US CEO by the economic magazine, which pinpoints four other leaders. Known for its ranking of billionaires, the US economic magazine Forbes launched a much less laudatory exercise: the list of the “worst bosses” in the United States. An analysis that comes as two major
Steve Ballmer, the boss of Microsoft, was elected the worst US CEO by the economic magazine, which pinpoints four other leaders.
Known for its ranking of billionaires, the US economic magazine Forbes launched a much less laudatory exercise: the list of the “worst bosses” in the United States. An analysis that comes as two major groups made the headlines on Wall Street this week amidst controversy. A case of rigged CV will have cost Scott Thomson, the chief executive of Internet giant Yahoo!, While the big bank JPMorgan Chase is seriously shaken by a “trading mistake” of more than 2 billion dollars. But his boss Jamie Dimon, he, will not have suffered the wrath of its shareholders at the general meeting of the group. Far from these controversies, other bosses would do “much more harm to the groups they lead, and their investors, employees, and suppliers,” according to Forbes. In his line of fire, five CEOs who “should have been fired for a long time”:
The prize goes to Steve Ballmer, the CEO of Microsoft. At the head of the company since 2000, the latter has removed Microsoft from the most buoyant markets, namely tablets, smartphones, and music online. “He has sacrificed the growth and benefits not only of his business but also of the entire ecosystem, which includes Dell, Hewlett Packard, and even Nokia,” says Forbes. In fact, while Microsoft’s share price peaked at $ 60 in 2000, it fell to $ 20 in 2002 and is now around $ 30. Among the errors of Steve Ballmer, the magazine criticizes the late launch and expensive operating system Windows Vista, and not to have seduced the crowd with its Windows 7 smartphone, unveiled in 2010, and the Office 2010 suite, leaving and the free hand to Apple on the consumer computing market. “As a result, today Microsoft is still the same company as it was ten years ago,” Forbes concludes. A harsh verdict, as the US giant prepares to launch Windows 8, a new operating system is planned to work equally on all types of devices – tablet, PC and smartphone – precisely to revive in this sector. And if it is indeed struggling in the mobile market, Microsoft has revolutionized the world of video games with its Kinect technology that even the business world is ripping off.
Edward Lampert, president of Sears Holdings, the third largest retail group in the US, behind Wal-Mart and Home Depot. “If he pulls all the strings (at the head of Sears, Ed), he also misses all his targets.” And Forbes recounts the action of Edward Lampert, whom he accuses of to have purely and simply “destroyed” one of the biggest actors of the distribution. Sears’ stock, which soared to $ 170 in 2007, is now capped at $ 30. Investors expect the group to sell more assets, after deciding to put on sale three successful brands: Kenmore, Craftsman, and Diehard.
Mike Duke, CEO of Wal-Mart. The world’s largest distributor finally comes out of the water. It resumed late last year with growth in the United States, its domestic market. A sales recovery that leaves Yet Forbes marble. Pointing to the manager’s “borderline legal” practices to extend his group internationally, the magazine also believes that Mike Duke “has adopted a worn-out strategy that is not adapted to the competitive context of distribution in 2012”.
The players in this sector, according to Forbes, are fighting to offer more products at a cheaper price, accelerate their e-commerce solutions, or facilitate deliveries at any time. Wal-Mart did not follow, “which has limited growth and margins.” In addition, the distribution giant, the country’s largest employer, is reputed to pay its employees badly and faced last year the filing of a recorded complaint by 1.5 million current and former employees. accusing of discriminatory practices. “Wal-Mart needs an entirely new strategy to stay viable, but that will not come from Mike Duke,” says Forbes.
Jeffrey Immelt, CEO of General Electric (GE). General Electric has always been a “jack-of-all-trades”, ready to enter new markets and change, Forbes describes. Until Jeffrey Immelt took over more than ten years ago. Here again, the magazine criticizes the lack of innovation of a boss who, according to him, “throws a circle around” his group, formerly a champion of diversification. As a result, GE, which peaked at $ 60 in 2000, lost a third of its value under Jeffrey Immelt. In 2009, in the middle of the financial crisis, it had even fallen around 9 dollars.
GE owes it to Berkshire Hathaway, Warren Buffett’s financial holding company, who saved him from bankruptcy in 2008.
John Chambers, CEO of Cisco Systems. In this list, he is the one who directed the longest his group. John Chambers has been at the helm of the Cisco Systems IT group since 1995. At the root of the group’s explosive growth – which reached $ 70 in 2001 – he is also responsible for the many crises that have rocked Cisco, summed up Forbes. Like the other bosses in the rankings, John Chambers would have been inspired for a long time, “unable to innovate, launch and develop new markets” in the cloud computing industry (“data storage”). remotely “). He tried to emulate Apple by focusing on the mass market. A failed bet: the company did not have the necessary public culture, according to the experts. Between 2001 and 2007, the Cisco share plunged to $ 35 and since then it has lost half of its value.