By Alec Hogg
Before Biznews acquired offices at the JSE, our business meetings were held at home. Among the memorable guests was Jon Forster-Pedley, the charming dean of Henley Business School Africa. Jon is no ordinary professor – an airline pilot who turned to teaching within corporates before joining the academic world. He loves books, and enjoyed looking at my collection, taking particular notice of Eric Clapton’s book.
A couple weeks back, Jon added to my musical bios by sending Bill Bruford’s autobiography. It has been an education. Bruford, a drummer and one of the early members of Yes is highly intelligent and regales the reader with stories from T-Rex to The Pet Shop Boys. Apart from the cultured pen which one would never expect from, well, a drummer, his deep understanding of the intricacies of the music business caught me by surprise. A reminder to resist pigeon-holing people. Years of exposure provides unique insights into the industries we work in. Invaluable, unteachable knowledge. Yet boards of directors often entrust the top job to professional managers from outside not just the company, but the entire industry. Somehow believing that success in one business sector ensures translation elsewhere.
When next you ponder this point, consider the disastrous appointment, in 1983, of John Sculley at Apple. Although he’d been very successful at Pepsi, Sculley never did “get” the computer business. As a result of his misguided decisions – including the ousting of Steve Jobs – he almost killed what is today the most valuable company in the world. Suggestion to the boardroom: If you can’t find your new leader from inside, at least opt for someone from the same sector.
Yesterday’s top stories:
Wealth-building in rental property. SA landlords coin it: best suburbs
Evidence grows that MH17 shooters hit wrong plane
James Caan offers UK’s successful SME programme to SA
Russia “helping rebels” destroy MH17 evidence – protecting killers of 298 incl Durbanite Cameron Dalziel
SA’s most expensive rental properties fetch R60 000/month – when you can get tenants to pay
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