Why are big American companies hiring foreign-born CEOs?

[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 officer—and 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. company—Alcoa stands for Aluminum Company of America—to another foreigner.

The trend has continued. Not to be outdone by its rival, PepsiCo—which is not a member of the Dow Jones Industrial Average but has greater revenues than Coke—bested 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/0/

[Demeter]

1. Because the B-School Graduates Are Destroying American Businesses

Enough said.

[Sarah Ibarruri]

2. Because corporations aren't beholden to any country.....

They'll suck the lifeblood out of any country that will allow it. In our case, the Repugnicans have arranged it so they can suck our blood till we're dead.

[Deja Q]

3. Weird.

[treestar]

4. At that level, they can hire whoever they want

Sort of like the way famous British actors can come and go as they please - if someone wants to hire them for a movie, the Immigration Service is not going to get in the way of that.

The rich, famous, exceptionally talented go where they want when they want. It applies to Americans too.

It's probably not harmful, as whatever they are doing probably churns up jobs lower down on the chain, where most of us are.

[Solar_Power]

5. Why wouldn't they? n/t

[rudeboy666]

6. What difference does it make?

Being screwed by an American CEO as opposed to a foreigner does not make it somehow better.

Screwing is screwing. Period.

[EV_Ares]

7. LOL, yeah, you made a good point on that, doesn't make much difference

who you are getting screwed by.

[Boojatta]

8. If Iraq had been legally a subsidiary of Haliburton and

Saddam Hussein had been the CEO, then maybe he could have been replaced with an American citizen of Iraqi descent without provoking a civil war!

[TheFarseer]

9. maybe they think they will do a better job?

The only ideas most American CEOs seem to come up with are schemes to make the stock go higher.