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Lorraine Williams, unfairly lambasted?
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<blockquote data-quote="Lanefan" data-source="post: 7832556" data-attributes="member: 29398"><p>This one.</p><p></p><p>Bringing in an industry outsider to run a company is always risky, as said outsider might not understand (or be willing to learn) the specifics of the product and market.</p><p></p><p>This happened in a large corporation I worked for - the long-time CEO, who knew the industry inside-out and backwards, died and was replaced by someone from outside the industry. The outsider largely bombed as he flat-out didn't seem to understand the industry; what kept the company going was mostly momentum and solid processes built up from earlier.</p><p></p><p>A few years later that outsider CEO was removed and replaced with an industry insider recruited from a different company, and the turnaround within a year was quite remarkable.</p></blockquote><p></p>
[QUOTE="Lanefan, post: 7832556, member: 29398"] This one. Bringing in an industry outsider to run a company is always risky, as said outsider might not understand (or be willing to learn) the specifics of the product and market. This happened in a large corporation I worked for - the long-time CEO, who knew the industry inside-out and backwards, died and was replaced by someone from outside the industry. The outsider largely bombed as he flat-out didn't seem to understand the industry; what kept the company going was mostly momentum and solid processes built up from earlier. A few years later that outsider CEO was removed and replaced with an industry insider recruited from a different company, and the turnaround within a year was quite remarkable. [/QUOTE]
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