Word: ceo
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Procter & Gamble is a place you'd look for wash-day miracles, not management revolutionaries. Yet A.G. Lafley, CEO since 2000, proved otherwise. He drove relentless change at the famous but once flailing company. In The Game-Changer, written with management guru Ram Charan, Lafley explains how P&G flourished by organizing around customer-driven innovation. He talked with TIME's Bill Saporito...
Virgin America's minimalist approach extends much farther than the cabin door, to what CEO David Cush calls its "operating and complexity costs." The airline is flying newer, more fuel-efficient planes and only Airbus models, to simplify maintenance, which it outsources. It flies only point to point, on high-traffic routes that it expects will be profitable. This streamlining allows Virgin America to introduce itself to American flyers with ultra-low fares, which its competitors are scrambling to match after losing a two-year regulatory battle to keep Virgin America out of the U.S. The airline will raise prices...
Branson likes to cultivate an image of himself as a risk taker. He was right in character at the press conference announcing V Australia, staged inside one of the departure terminals at LAX, to the slight confusion of people walking toward security. As Brett Godfrey, Virgin Blue's CEO, unveils the airline's introductory fare--$1,000 round trip between Sydney and Los Angeles--Branson, in jeans and a rumpled polo shirt, interrupts. "That's not good enough," he declares. "What kind of plane are we flying? 777s? Then let's make it $777 for the first thousand tickets!" People...
...trumpets biofuel, every plane in the sky runs on the same stuff. The price of jet fuel has risen 69% in the past year, and Virgin's executives, like their rivals, lie under its sword. "Other than the recession and $110-a-barrel oil, I see nothing but opportunity," CEO Cush deadpans. He can't cost-cut his way out; the limits of that strategy are obvious. The big carriers have taken $15 billion in costs out since 2001 but are paying $17 billion more for fuel...
...great missed business opportunities in recent memory: there are more flights connecting the U.S. to the rest of the world than ever, but U.S. airlines are flying fewer of them. "America led the world in aviation, and they should still be No. 1," says Steve Ridgway, CEO of Virgin Atlantic. "America built the planes that made this possible...