Word: ghosn
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...verge of bankruptcy, Nissan was one of the first to hand over the keys to a foreigner. Carlos Ghosn arrived in Tokyo in April 1999, with a mandate from Renault to repair the damage by whatever means necessary. He achieved a turnaround, and his success has given rise to a question that is particularly troubling to Japan's business leaders at a time when self-certainty is wavering: Can it be that Japan needs Westerners at the helm to compete in the new global business environment? Not surprisingly, executives asked to comment on Ghosn's achievement tend to be dismissive...
...Indeed, when foreign managers have been named to run Asian companies in the past, it's typically been due to a foreign takeover. That was the case in Japan when Renault bought a stake in Nissan Motor and brought in Carlos Ghosn to turn around the troubled automaker. Ghosn's now fabled success is no guarantee that all outsiders are miracle workers, of course, nor does it mean that Asian management is too stodgy and inward-looking to compete globally. Toyota Motor, perhaps Asia's best-run company, has achieved phenomenal international success with homegrown talent...
...announcement hit Japan like an earthquake. Stringer may not be the first Westerner to take the helm of a major Japanese company, but his ascension trumps Carlos Ghosn's 1999 appointment to the executive suite of Nissan Motors in significant ways. First, unlike Nissan, Sony is not just one of many world-class Japanese companies; it is the quintessential Japanese company, linked to the nation's identity as the very embodiment of the country's postwar economic miracle. Second, Renault, which owns 44% of Nissan, forced Ghosn upon Japan's second largest automaker, whereas Sony willingly sought Stringer's assistance...
...NAMED. TOSHIYUKI SHIGA, 51, as chief operating officer of Nissan Motor Co.; replacing current chief executive Carlos Ghosn, who has turned around the struggling carmaker since his hiring in 1999; in Tokyo. Shiga, a 29-year Nissan veteran, most recently ran company operations outside of North America, Europe and Japan and is credited with boosting sales in China and Southeast Asia. He will report directly to Ghosn, who in April assumes a dual role as president and CEO of both Nissan and its parent company Renault...
...Ghosn will remain CEO of Nissan, becoming chief executive of two car companies with headquarters on two continents. If anyone is up to the task it's he. A French citizen and engineer who speaks six languages, Ghosn is a legend in auto circles for transforming Nissan from clunker to race horse. Puncturing the myth that no foreigner could change Japan's clubby corporate culture, he laid off thousands, revitalized product design, streamlined Nissan's supplier network--and became a cult hero in the local press. Nissan's 11% operating margin is among the industry's highest. Sales...