Word: geneen
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Dates: during 1970-1979
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...fact, Hamilton was ousted after only 18 months because he upset the man who had built ITT into the world's biggest conglomerate, its demanding, autocratic chairman, Harold Geneen, 69. Hamilton's offense? Nothing more than some modest restructuring of the company into five operating divisions, and a bit of judicious pruning of corporate deadwood that had grown up under Geneen...
Tensions had been building between the two men almost from the moment that Hamilton stepped into Geneen's job as day-to-day operational boss of the company. Reluctant to relinquish power, Geneen in 1975 had been given a two-year exemption from the company's policy of mandatory retirement at 65, but when he finally did step down, ostensibly to confine himself to his more general policy-making duties as board chairman, he pestered the new chief with critical memos, maneuvered to circumvent Hamilton's corporate decision making and sometimes even insulted him to his face...
...company stands to see a lot more of Geneen, at least until his $1 million-a-year management contract expires in 1981 and he presumably retires for good at 71. No sooner had he dumped Hamilton than he was jetting to Europe where, in the words of one ITT executive, "more heads are expected to roll." Sure enough, at week's end Gerhard Andlinger, president of ITT Europe, "resigned...
Lecture--Harold S. Geneen, chairman, ITT, Burden Hall...
...Bergerac leave ITT to head a much smaller, though still giant, company? One reason may have been the grind of ITT. Geneen drove his executives at a frenzied pace; in Brussels, Bergerac worked about 80 hours a week. Geneen also conducted marathon monthly meetings that sometimes lasted for four days, at which subordinates were expected to spout reams of figures on cue and might be publicly humiliated by the boss if they could not do it. Associates remember Bergerac as always smiling and calm in this pressure cooker, but they cannot imagine that he enjoyed...