New Consumer CEOs Are Getting Tougher, Shorter Jobs
February 18 2019 - 2:42AM
Dow Jones News
By WSJ City
Running a multibillion-dollar consumer company is a more
bruising job than it used to be. The new bosses may struggle to
last as long as the retiring ones, writes Carol Ryan for Heard on
the Street.The world's largest packaged-goods companies are going
through a bout of c-suite churn. Colgate-Palmolive became the
latest to name a new CEO following appointments at Unilever,
PepsiCo and Campbell Soup at the end of last year. The top job is
open at Reckitt Benckiser.
KEY FACTS
-- The incoming bosses will have a bumpier time than their predecessors.
-- Managers now have hundreds, if not thousands, of scrappy competitors to
keep tabs on.
-- A big part of the chief executive's job now is to manage a portfolio
shift towards faster-growing areas.
-- But it is arguably becoming easier to make mistakes in deal-making.
-- Looking for targets is taking more time too.
WHY THIS MATTERS
Consumer companies are also a new favourite with activist
investors: 27 had activists on their share register last year,
according to Lazard. Other investors too are starting to recognise
the benefits of a fresh perspective. This ensures that CEOs who get
things wrong won't overstay their welcome.
A fuller story is available on WSJ.com
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(END) Dow Jones Newswires
February 18, 2019 02:27 ET (07:27 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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