Word: ghosn
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...Ghosn is a globalist--Lebanese heritage, French education, Brazilian passport--who earned his spurs as an aggressive turnaround artist at Michelin, the tire company, and then Renault. To bring Nissan to heel, the 46-year-old used psychological leverage that nobody had ever bothered to exploit in Japan. "People within the company were convinced that Nissan was sick and could die," he says. "They knew it had to change, and they were willing to help...
Make no mistake: there are still some real questions about whether Ghosn's reforms are sustainable. Morale is still low in many parts of the company, particularly among the white-collar managers who by now know their days are numbered. Ghosn must further reduce the number of Nissan's suppliers and cut purchasing costs an additional 10% by next year. A global economic slowdown could erase an awful lot of profit in the meantime and total Ghosn effort...
...thing, however, is certain: Ghosn won't let his troops quit on him. His relentless energy keeps his managers focused, if exhausted. For the rest of the company, he uses intermittent whistle-stop tours of factories and dealerships to keep driving home his gospel of "change...or else." As Ghosn commented to dealer-manager Yamano recently through his ever-present interpreter (he is diligent about his weekly Japanese lessons, but Ghosn depends on interpreters), "Your results show a loss. We want to know first, why? And second, what are you going to do about...
...Yamano. His stammering attempt at an answer prompted only an irritated sigh. "This is your responsibility," snapped Ghosn. "Brainstorm. Discuss. You will be held accountable for this...
Indeed. Accountability is the watchword at a company that two years ago nearly failed for lack of it. And while this week's auto-show debut may offer an uplifting break in an otherwise grindingly difficult quest, Ghosn doesn't have time to stop and savor success. "If you're coming from hell," he says, "then purgatory doesn't look too bad." If the Z takes off, then at least maybe Ghosn can start thinking about heaven...