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Please refer to the syllabus for expectations (rubric) about the discussion foru
Please refer to the syllabus for expectations (rubric) about the discussion forum. Post your discussion first, then after reviewing the posts of others, post at least 2 responses. All responses should be in good form and tailored to a professional-level audience.
For ERM to be successful, it is important to have a healthy risk culture and support of senior leadership and the board. The CEO’s role in risk management and having the right “tone at the top” is the foundation for an effective ERM program.
The CEO is crucial to any organization, so when the position changes, this may lead to disruption in the organization’s culture as well as impacting strategic initiatives. There have been several CEO changes in public companies over the past few years for various reasons. Culture is unique to each organization; and risk management practices follow a similar trend, one size fits one, even for those in the same industry.
Consider these three well-known public companies. Each had, or will be having, a change in its CEO in the near term. Each company has a unique culture and has been dealing with various business and strategic challenges over the past few years. Here are some starting points to give you a perspective. (WSJ Articles are posted in the Discussion Forum on Moodle below this forum)
·Berkshire Hathaway (BRK-A, BRK-B) – Since 1965, Berkshire Hathaway has been overseen by Warren Buffett as chairman and CEO and from 1978-2023 by Charlie Munger as vice chairman. Charlie Munger passed away on November 28, 2023 at 99. More information about Warren Buffett’s background can be found on the CNBC.com Archive. The two of them have been instrumental in shaping the company and guiding its success. Also review the article posted from the WSJ “Berkshire Hathaway’s Board Is Old. Not all Investors Are Happy About That.”
Gucci (Kering, Parent Company, KER.PA) – Kering is a French-based luxury goods company that also owns brands such as Yves Saint Laurent and Balenciaga. Jean-Francois Palus was named CEO in July after being in the role for an interim period. One of Gucci’s strategic objectives is to reinvent the company “as a steadier, more dependable brand less vulnerable to shifts in the fashion cycle.” Review the article posted from the WSJ “New Gucci CEO Wants Older, Richer Customers.”
Disney (DIS) – On November 20, 2022, Robert Iger returned to Disney as the CEO after his former successor, Bob Chapek, was ousted by the Board. He said he would address the business and strategic challenges of Disney as well as help the Board identify his successor. Mr. Iger will be CEO until 2026. There have been a series of articles as Mr. Iger works to cut costs, streamline the business and make Disney a more stable and valuable company for the future. Review the WSJ article “Disney Gets Iger’s Second Show on The Road” relating to streaming service (8/10/23).
Leveraging the above companies and their CEOs, compare and contrast the culture and/or “risk” culture at each company. In your discussion, specifically address the following:
1. What do you consider a strength about the culture of each company, and in particular the leadership style of the current CEO? Why?
2. What do you consider a weakness of the culture of each company, or something which may not have worked as well as planned? Also address the potential challenges for the current CEO. Why?
3. Our company focus for class is Warby Parker. From the videos and readings to date, what is one recommendation you would make to the Co-CEO’s as a take-away or lesson learned about the culture of the three companies?
4. From the Executive Perspectives on Top Risks for 2024 & 2034, the #2 risk for both years is “Ability to attract, develop and retain top talent, manage shifts in labor expectations, and address succession challenges may limit our ability to achieve operational targets.” This includes generational distinctions, navigating evolving labor expectations and demands and the constraints of a tightening talent/labor market.
Focusing on the succession aspect as it relates to the CEO and reflecting on what you discuss above and in your other research, what is one other recommendation you would make to the Co-CEO’s of Warby Parker to keep in mind for future succession planning for the co-CEO roles.
You should do some general research on each of these companies to provide you background to support your points. This may include recent articles, information about the companies’ news/press releases and/or any other relevant resource. Please just provide a link to the resource you used at the bottom of your discussion post. This doesn’t need to be a formal reference.
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