jerryking + troubleshooting   5

JAB’s Peter Harf: hire ambitious talent and give them a mission
February 16, 2019 | | Financial Times | by Leila Abboud and Arash Massoudi.

JAB oversees its portfolio of coffee, beverages, and casual dining companies. .....When everything was going wrong last year at Coty, the cosmetics company backed by investment group JAB Holdings, Peter Harf reacted with characteristic ruthlessness, replacing Coty’s chief financial officer and chief executive, and taking back the Coty chairmanship from his longtime associate, Bart Becht. Describing last year’s share price decline of more than 60% as “unacceptable” for JAB and its co-investors, Mr Harf says the situation “had to have serious consequences” even for his inner circle......Harf believes that identifying talented people — and incentivising them through performance-based pay — have been key to his success over his nearly 40-year career..... just as important to Harf is knowing when to jettison those who are no longer serving the mission he has overseen since he was 35: growing the wealth of Germany’s reclusive Reimann family who are behind JAB....Harf's vision was for JAB to be modelled on Berkshire Hathaway, the investment conglomerate built by his idol, Warren Buffett. Success would come not only from backing the right leaders but by patiently building brands, embarking on deals and taking companies public to cash in on bets....Harf felt he had assembled a dream team: “My mantra has always been that I need to hire people who are better than me. Lions hire lions and sheep hire other sheep.”

Three questions for Peter Harf
(1) Who is your leadership hero?

“Warren Buffett. Hands down. All this stuff that I intend to do to make JAB into a long-term investment vehicle, he does it to perfection. He’s the greatest investor in the world, and I want to be like him. If we invest as well as Warren, we’ve won. Very simple.”

(3) What was your first leadership lesson?

One of my biggest role models was Bruce Henderson, the founder of Boston Consulting Group. When I worked for him, I prepared a three-page analysis about a problem. It had 10 bullet points as the conclusion. He dismissed it as way too complicated and said: “Don’t try to field every ball.” He meant that if you wanted to be a good leader, you have to be able to focus on the important stuff first.
+++++++++++++++++++++++++++++++++++++++++++++++++++
The trouble often starts when leaders start listing five or seven or 11 priorities. As Jim Collins, the author of the best-selling management books “Good to Great” and “Built to Last,” is fond of saying: “If you have more than three priorities, you don’t have any.”
BCG  Berkshire_Hathaway  beverages  casual_dining  coffee  commitment  CPG  dealmakers  deal-making  departures  exits  family_office  family-owned_businesses  HBS  hiring  investors  JAB  Keurig  lifelong  mission-driven  private_equity  portfolio_management  ruthlessness  talent  troubleshooting  Warren_Buffett 
february 2019 by jerryking
Dick Parsons, Captain Emergency - BusinessWeek
March 24, 2011, 5:00PM EST text size: TT
Dick Parsons, Captain Emergency
Troubled outfits like Citigroup keep hiring Parsons because he's a master in the art of the relationship

By Devin Leonard
Richard_Parsons  African-Americans  profile  turnarounds  Citigroup  troubleshooting 
march 2011 by jerryking
DeMaurice Smith Takes On the N.F.L. Owners - NYTimes.com
By SRIDHAR PAPPU
January 22, 2011

As a corporate lawyer at Patton Boggs, the high-powered Washington firm,
Mr. Smith dealt with companies that were either “in crisis or were
about to be.” As a candidate for the N.F.L.P.A. job, he composed what he
called “Playbook: An Enterprise Philosophy to Maximize the Business and
Political Interest of the N.F.L.P.A.” “About 60 percent of it,” he
said, “was envisioning what the chances were of a lockout and what to do
to prepare for it.”

It was a useful exercise. “The only bad thing is that everything we
thought and contemplated the league would do they’ve done,” Mr. Smith
said.
anticipating  creating_valuable_content  crisis_management  enterprise_clients  event-driven  labour  lawyers  negotiations  NFL  playbooks  preparation  sports  troubleshooting  turnarounds  unions 
january 2011 by jerryking
Arts Organizations Turn to Him for Advice - WSJ.com
FEBRUARY 18, 2009, WSJ interview with WILLIAM TRIPLETT. Michael
Kaiser, president of the John F. Kennedy Center for the Performing
Arts, announces a free consulting program for any troubled arts
organizations in the U.S. Kaiser authored, "The Art of the
Turnaround: Creating and Maintaining Healthy Arts Organizations,"
marketing  nonprofit  ECONOMY  management_consulting  cultural_institutions  troubleshooting  turnarounds  leadership 
february 2009 by jerryking

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