Kitz Forum
Announcements => News Articles => Topic started by: Black Sheep on November 01, 2017, 12:25:55 PM
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What impact this will have ..... if any ..... I have no idea ??
Sir Mike Rake is out .... Jan du Plessis, is in.
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https://www.bloomberg.com/news/articles/2017-11-01/bt-s-new-chairman-du-plessis-is-no-stranger-to-tough-assignments (https://www.bloomberg.com/news/articles/2017-11-01/bt-s-new-chairman-du-plessis-is-no-stranger-to-tough-assignments)
Jan du Plessis is moving from one tough job to another, as the departing chairman of Rio Tinto Group takes up the same post at troubled telecom carrier BT Group Plc on Wednesday.
At the world’s second-largest mining company, du Plessis has been contending with the fraud investigations of two former CEOs. He steps down in early 2018 after nine years, having steered Rio Tinto to recovery from an industry slump that halved its share price in less than a year.
He seems to be good at getting companies out of a financial slump. It'll be interesting to see the impact he has on BT.
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The 63-year-old South African has a lot to do at BT, where he replaces Mike Rake, who was chairman for 10 years.
TBH I could never understand how someone could be a Chairman of several very large but unrelated companies anyhow but hey ho.
Mike Rake had his fingers in lots of pies. Du Plessis is also a non-executive director of the Lloyds TSB Group
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Rio Tinto good for digging holes. He may need to revise his skill set?
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He can dig long holes and put fibre in them!
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Is that new skill to learn to fill the holes in again?
As I understand it, the Chairman has to work with the CEO on strategy to keep the company heading in the right direction.
However, the chairman is a member of the board, so is also part of the group that decides who the CEO should be. It might mean that the chairman's idea for strategy has a slight advantage.
The real unknown, for me, is how two different chairmen will determine the fibre future of the country: Jan du Plessis and Mike McTighe.
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Is that new skill to learn to fill the holes in again?
As I understand it, the Chairman has to work with the CEO on strategy to keep the company heading in the right direction.
However, the chairman is a member of the board, so is also part of the group that decides who the CEO should be. It might mean that the chairman's idea for strategy has a slight advantage.
The real unknown, for me, is how two different chairmen will determine the fibre future of the country: Jan du Plessis and Mike McTighe.
@WWW How could you even think such a thing!? :oldman:;)
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Chairman and CEO rules can be confusing as they seem to mangle.
As I understand it tho, Chairman tends to be a longer sat position, they could be seen as a boss for the CEO and usually a member of the board as well. But the CEO is the one that takes the day to day decisions, CEO's seem to have a much higher turnover of staff than Chairmen.
I expect also this will vary from company to company as well.
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The Chairman is the chair of the Board of Directors. The CEO will invariably also be a director. Companies with a quote on the London Stock Exchange have to comply with a Governance Code (or else explain why not) which amongst other things requires the roles of chairman and CEO to be kept separate. The reason is to avoid concentration of power in one individual.
I doubt if the new chairman will have an immediate impact on BT, given the strategic nature of the role. If he finds some acute operational issues of course things might be different.