Word: ghosn
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Smiling broadly and looking dapper in a powder blue shirt, pin-striped suit and bright red tie, Renault CEO Carlos Ghosn doesn't look like your typical corporate hatchet man. Back in 1999, however, Ghosn was dubbed the "samurai" and "cost killer" at Nissan Motor in Japan. As the newly appointed president, he began closing plants, slashing more than $20 billion in debt and eliminating 20,000-plus jobs to return the moribund company to profitability. Many observers--especially France's sometimes intractable unions--expected similar tough love in early February, when Ghosn unveiled his ambitious four-year plan...
Smiling broadly and looking dapper in a powder blue shirt, pin-striped suit and bright red tie, Renault ceo Carlos Ghosn doesn't look like your typical corporate hatchet man. Back in 1999, however, Ghosn was dubbed the "samurai" and "cost killer" at Nissan Motor in Japan. As the newly appointed president, he began closing plants, slashing over $20 billion in debt, and eliminating over 20,000 jobs to turn the moribund company profitable. Many observers - especially unions - expected similar tough love in early February, when Ghosn unveiled his ambitious four-year business plan for Renault, which...
...economy or a spike in gas prices could put him on the edge as he braces for union negotiations that may determine whether GM survives intact. If there's any solace for Wagoner, it's that he isn't the only car guy in the hot seat. Even Carlos Ghosn, chief of Nissan, the automotive turnaround story of the decade, is experiencing a sales slump, and the company has announced plans to move its North American headquarters from Los Angeles to Franklin, Tenn., to save a few bucks. The bright side for nearby Saturn workers who may soon...
...Stringer isn't the first foreigner to head a large Japanese company; in 1999, Carlos Ghosn, a Lebanese born in Brazil and educated in France, was appointed to the executive suite of Nissan Motor. The challenge at Sony is no less pressing than that at Nissan; when Stringer told TIME that he was "bedazzled by the problems and demands of the job," he knew whereof he spoke. For Sony's woes are well known. The company that once had a magic touch-creating not just the Walkman, but the Trinitron TV and the PlayStation too-has gone adrift...
...taken as a whole, Japan Inc. remains one of the most insular corporate cultures on earth. Over the past 15 years, plenty of Western management practices, investors and executives have been tried, with mixed results. For every Ghosn, who is now a national hero for saving Nissan, there is a Rolf Eckrodt, the DaimlerChrysler executive who failed to turn around Mitsubishi Motors. For every Ripplewood Holdings, the U.S. investment firm that bought out and successfully relaunched the bankrupt Long-Term Credit Bank as Shinsei Bank, there is a Carrefour, the French retailer that is withdrawing from the country after just...