Tech CEOs - life on the edge of risk management
By Aarty Maharaj
“Heading up a company is not all it’s cracked up to be. A CEO has to be a master - at almost everything. Whether it’s legislative advocacy, solid corporate governance practices, strategic planning or even choosing the right staff members, these head honchos must be able to balance every aspect of an organization’s future and stand at the forefront of success or failure.
In the tech industry, for instance, CEOs have been experiencing a significant amount of change. Sometimes these executives are stretched too thin because of the complex nature of tech services now driven by the evolving social networking platform. In this setting, the job of the CEO goes beyond simply achieving excellence in strategic execution. He or she must have the ability to react quickly to a situation, craft capabilities and watch for early warnings of changes. In business, this is where risk management comes in.
A report on Business Insider, On the hot seat: 10 tech CEOs who could be fired tomorrow, examines major risk management missteps some executives have made while heading up a tech company.
According to the report, the following CEOs are expected to get the boot soon: Dick Costolo, CEO of Twitter, who has yet to demonstrate the social networking site is more monetizable than AIM or chat; Scott Thompson, Yahoo’s new CEO who is already wrestling with a proxy fight against shareholder activist Dan Loeb; and Andrew Mason, Groupon’s CEO who can’t seem to get the company’s financial reporting right – as a result, the ‘deal-of-the-day’ website is undergoing an investigation by the SEC.
‘These are strategic risk oversight and management on steroids – mostly about exploring how millions of people ‘stick’ to social media and then monetizing,’ says Brian Barnier, an industry analyst and risk management expert…”
This is an extract from Corporate Secretary, to read more: www.corporatesecretary.com
Read more:
Corporate Governance, Risk Management and CSR in Emerging Markets
Stratégies de gestion des risques pour un conseil d’administration
Source: corporatesecretary.com
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