Word: geneen
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Under Empire Builder Harold Geneen, ITT devoured 275 companies and went from annual sales of $765 million in 1959 to $17 billion in 1979. But since Geneen's departure, the company's performance has slowed from go-go to nogo. Araskog has tried to revive ITT by shedding more than 60 subsidiaries, worth about $1.5 billion, but the company remains dangerously short of cash...
Crosby later became director of quality at ITT, and one day he got to put forth his ideas to Chairman Harold Geneen during an elevator ride. Geneen was intrigued and agreed to support an in-house "cultural revolution." Under the banner of slogans like "Make Certain" and "Buck a Day," Crosby created a system of quality managers throughout the company that has been adopted by other large corporations...
...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...