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View Diary: Private equity-owned Hostess blames striking workers as it liquidates (263 comments)

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    ...there are counter examples. IBM, under Lou Gerstner's leadership, shifted gears (focusing more on services and complete solutions than on hardware) and the company was very successful under his leadership. When he joined, there was actually a plan in place to dismantle the company and sell the pieces. While he was CEO, from 1993 to 2002, the stock increased in value about 6x or 7x IIRC.

    What was Lou Gerstner's prior job? Chairman and chief executive officer of RJR Nabisco (and an executive at American Express prior to that). I.e., no experience in managing a computer vendor.

    Good executives are good executives, no matter what they manage. What they don't know, they ask. What others can do, they delegate. Most importantly, good executives (and good managers in general) have an innate understanding of people and pick good people, generally with some background in the industry,  to report to them and execute the vision.

    Management, like sales, is a profession. What is being managed or what is being sold is secondary for those most skilled in the craft.

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