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Why are big American companies hiring foreign-born CEOs? [View All]

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EV_Ares Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-19-07 07:52 PM
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Why are big American companies hiring foreign-born CEOs?
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Edited on Sun Aug-19-07 07:52 PM by EV_Ares
Outsourcing CEO jobs now???

Aug. 17, 2007 - Earlier this week, Alcoa, the giant U.S. aluminum maker, appointed Klaus Kleinfeld, the former CEO of German industrial giant Siemens, its new president and chief operating officerand hence the new CEO-heir apparent. Should Kleinfeld succeed current CEO Alain Belda, it would be a first: the Brazilian CEO of a Dow Jones Industrial Average component handing off stewardship of an iconic U.S. companyAlcoa stands for Aluminum Company of Americato another foreigner.

The trend has continued. Not to be outdone by its rival, PepsiCowhich is not a member of the Dow Jones Industrial Average but has greater revenues than Cokebested Coca-Cola in the global diversity sweepstakes. Last fall it appointed Indra Nooyi, a woman born and educated in India, as CEO. She assumed the role of chairman in May. Nooyi, 51, was educated at Madras Christian College and the Indian Institute of Management before coming to the United States to attend Yale's School of Management in 1978. An American citizen, she wears saris on occasion and retains an accent, which you can hear on this conference call.

But these appointments show that, to a degree, large corporations may be displacing MBA programs as the new credentialing factories. None of the CEOs mentioned above has a graduate degree from a U.S. business school, save Nooyi of Pepsi. (Then again, the Yale School of Management regards itself as a public-policy school as much as a B-school.) Martin Sullivan of AIG does not appear to have attended college.

((((rest of the article @ link))))

http://www.msnbc.msn.com/id/20322188/site/newsweek/page... /



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