ROTHENBERGER Werkzeuge GmbH’s Post

As per author Allan Sloan, "ranking and yanking" by firing the bottom 10% of employees every year, playing accounting games to meet quarterly earnings goals, and not thinking long-term is no way to run a company (Jack Welch legacy). This begs the question: should other industries adopt the banking sector's practice (India) of clawing back CEO bonuses within stipulated period of 3 to 5 years of stepping down if the company suffers a severe performance lapse due to decisions made during their tenure? Food for thought. Source: https://lnkd.in/dkJqeCSf

Significant events at Spirit AeroSystems, incorporating key departures, leadership changes, strategic negotiations, and other important developments: 2023 - September 30, 2023: Tom Gentile, President and CEO, resigns from his position amid financial struggles and operational challenges. Patrick Shanahan, a former Boeing executive, is appointed as interim CEO. - November 1, 2023: Spirit AeroSystems announces its third-quarter financial results, presented by interim CEO Patrick Shanahan and CFO Mark Suchinski. - November 28, 2023 - Sam Marnick, Executive Vice President and Chief Operating Officer, leaves Spirit AeroSystems.  2024 - January 5, 2024 - Alaskan Door Incident - Spirit AeroSystems faced scrutiny due to an incident involving the quality control of aircraft doors manufactured for an Alaskan airline. This issue highlighted ongoing challenges in maintaining production standards. - March 2024: Boeing and Spirit AeroSystems enter preliminary discussions regarding a potential acquisition to reintegrate Spirit’s operations with Boeing. - Early 2024: Spirit AeroSystems begins critical negotiations with Airbus about supplier agreements and the potential acquisition of certain manufacturing assets, including the Belfast facility. - April 2024: Boeing agrees to inject an additional $425 million into Spirit AeroSystems to support its operations amid financial difficulties. - May 1, 2024: Spirit AeroSystems and Airbus executives meet in New York to discuss the potential acquisition of key aircraft-manufacturing assets. - May 7, 2024: Spirit AeroSystems reports its first-quarter financial results, revealing increased commercial segment revenue but significant forward losses and excess capacity costs. - June 2024: Boeing CEO Dave Calhoun expresses a desire to conclude acquisition talks but indicates that Spirit must settle with Airbus and supply chain statement of work. Airbus CEO Guillaume Faury indicates that discussions are still in early stages. - May 16, 2024: Spirit AeroSystems announces layoffs as part of its restructuring efforts to stabilize operations and improve financial performance. - June 5, 2024: CFO Mark Suchinski has resigned after 18 years… Board member and former Time Warner Cable vice president Irene Esteves replaces Suchinski immediately. Please like, follow, comment... All my Spirit Sale posts can be reviewed at #PoynterSpiritSale

⚡⚡⚡ CXO Moves & Women in Global Leadership: Stephanie Pope, Head of Boeing's Only Profitable Business Unit, Elevated To COO Role & Seen As A Possible Successor To Current CEO Dave Calhoun Boeing on Monday named long-serving insider Stephanie Pope, currently CEO of Boeing Global Services, to the newly created role of chief operating officer, likely making her one of the top contenders to succeed Dave Calhoun as CEO when he steps down. 🎯 Heading The Only Profitable BU at Boeing BGS is Boeing's only business to report a profit in the first nine months of 2023, as the company's commercial planemaking struggled with supply chain issues, while its defense businesses faced cost overruns. BGS revenue under Pope rose 9% to $4.81 billion for the quarter through Sept. 30 this year, while its operating margins fell to 16.3% from 16.5%. The quarter before she took over in April 2022, the unit's revenue was $4.31 billion, while the operating margin was 14.6%. The business provides services such as engineering, maintenance and modifications, upgrades and conversions, as well as spare parts to Boeing's commercial and defense customers. Before becoming the CEO of Boeing Global Services (BGS) in April 2022, she was the finance chief of the commercial airplanes business from December 2020 to March 2022 🎯 CEO Succession Planning "The move could be setting her up as a possible successor to Dave Calhoun as CEO," Jefferies analysts said in a note. "Having generated all the company's profits in recent years as head of the Services division, she is now in pole position to succeed Dave Calhoun as CEO," Vertical Research Partners analyst Robert Stallard wrote in a note. "Stephanie brings tremendous operational, financial and customer experience to this (COO) role," Boeing CEO Calhoun said in a statement. The Wall Street Journal first reported the appointment of Pope as Boeing's COO. 🎯 Key Takeaway Boeing has been grappling with supply disruption at a time when it is saddled with almost $40 billion of debt stemming from the COVID-19 travel slump and an earlier 737 MAX safety crisis. This makes any leader capable of delivering a strong profit extremely valuable at Boeing! #executiveleadership #toptalent #leadershipjourney #womeninleadership

Advance Auto Parts announced a new CEO and interim CFO, leadership swaps that came as it also released a weak quarterly earnings report. Shane O'Kelly, who most recently served as CEO of industrial goods wholesaler HD Supply, was named Advance Auto’s CEO and president, effective Sept. 11, replacing Tom Greco, who is retiring, according to a Wednesday press release. Meanwhile, Jeff Shepherd who became Advance Auto Parts’ CFO in 2017, recently exited and is being replaced on an interim basis by Tony Iskander, MBA, a six-year veteran of the company, the release said. A search is being initiated to find a new CFO, the company said. The reason for Shepherd’s departure wasn’t disclosed, and a spokesperson didn’t immediately respond to a request for comment. “I am very confident that Tony will lead the finance team through a seamless transition and work closely with Advance’s new CEO when Shane officially joins in September,” Gene Lee, the company’s interim executive chair, said in the release. The auto parts sector continues to face many challenges including the adoption of electrical vehicle, supply chain disruption, and lower consumer spending.   Margins and sales continue to be a challenge for many enterprises. A business review of data including health check of reports along with the budget, forecasting, costing, capital, cash flow, demand, capacity, and HR planning may find ways to increase profits by product, facilities, and geographies.   Here are links that can assist with your data and AI journey as part of your planning, forecasting, budgeting, capital planning, cash flow forecasting, analysis, activity-base costing, demand planning, capacity planning, HR planning, and reporting cycles (operational, management, and regulatory):   Scenario Planning -  https://lnkd.in/g2M6Rka4   GAP Analysis https://lnkd.in/e9waApw   ESG reporting Standards? - https://lnkd.in/gnms3fy7     Close, consolidate, and reporting - https://lnkd.in/gARHRXB4       Data Management - https://lnkd.in/g8SvPfDx    #profitability #sales #margins #inventory #cashflow #EBITDA #EBIT #production #integration #integratedplanningandreporting #SDG #Metrics #Scope1 #Scope2 #scope3 #operational #management #regulatory #profitability #sales #margins #inventory #cashflow #EBITDA #EBIT #production #integration #integratedplanningandreporting

What does having a family CFO look like and why is it valuable? Team Coordination...Here is how this plays out. Tax Planning: You are the CEO and deserve to get those bite-sized nuggets to make decisions. Have a team of experts that can make it easy for you to make decisions.

Appointment of new CFO

⏳ Change is the only constant. A few weeks after welcoming a new head of the Supervisory Board, Giesecke+Devrient is now announcing changes at the top of the executive organization.  Early April, heartfelt farewell parties have been great moments of connection and gratitude, also showing the bonds that unite us as a team. Now in May, we can all appreciate how each transition has been carefully orchestrated, laying the groundwork for continued success and growth. Smooth transitions are a testament to the strength of an organization's culture and the resilience of its people. I am confident in our ability to not only weather the storms of change but also emerge stronger than ever before. Together, we will honor our heritage, embrace the future, and write the next chapter of success for Giesecke+Devrient. 🔒 Our best security is our ability to change. #Management #Transformation #SecurityTech #DigitalTransformation #heritage #legacy #proudofgd

Congratulations to Tom Okray for taking on the role of Chief Financial Officer for Nikola Corporation! This marks Okray's fourth tenure as CFO of a public company. "We are proud to welcome Tom as our CFO. Attracting someone of his caliber is a testament to the exciting journey Nikola is on," said President and CEO, Stephen Girsky. "I have traveled the globe over the past 40 years and worked with cutting-edge technologies across various vehicles. Scaling the zero-emissions technology at Nikola is something I want to be a part of," said Okray. "My connection with some of Nikola's leadership spanning decades made the decision even more natural.” Below is the announcement in this week's #CFOMoves Report: Nikola Corporation [Phoenix, AZ] (NASDAQ: NKLA) announced the appointment of Thomas "Tom" B. Okray as Chief Financial Officer. Okray joins Nikola from Eaton, where he held the position of Executive Vice President and Chief Financial Officer.   ** Do you hold a C-suite role? ** Receive a complimentary subscription of the Executive Moves & stay ahead of the curve! Executive Sign Up Here: https://lnkd.in/dfcQ788n If you do not yet hold a C-suite role and would like to subscribe to a CxO report, subscribe here: https://lnkd.in/daK8at82 #ExecutiveMoves #ExecutiveSearch #ExecutiveCoaching #CxOcommunities #CSuiteTrends #CFO #CxO #Leaders

Appointment of new CFO