CEO Daily Brief – Jan. 21, 2011
Larry Page To Be Named Google CEO Replacing Eric Schmidt One of Google’s co-founders, Larry Page, will be named the [...]
January 21 2011 by ChiefExecutive.net
Larry Page To Be Named Google CEO Replacing Eric Schmidt
One of Google’s co-founders, Larry Page, will be named the company’s CEO, taking over from Eric Schmidt, who is going to become the company’s executive chairman. Page will have some challenges ahead, particularly from growing rivals, such as Facebook, or even from an innovative company like Apple.
But Schmidt has confidence in the new CEO. “In this new role I know he will merge Google’s technology and business vision brilliantly,” Schmidt said in a blog post. “I am enormously proud of my last decade as CEO, and I am certain that the next 10 years under Larry will be even better! Larry, in my clear opinion, is ready to lead.”
In addition, another one of Google’s co-founders, Sergey Brin, will concentrate on new products and strategic projects, according to the blog post.
There are some trends for the new leadership team. Bloomberg News reports that Google is seeing mobile devices as an important source of growth, with its Android operating system now rivaling Apple’s iPhone in the United States. Google is the U.S. leader among search engines, though it has competitors in Yahoo and Microsoft.
Interestingly, Schmidt could even be considering a spot in President Barack Obama’s administration, Bloomberg reported. As far as his new role in the company, he wrote in the blog, “I will focus wherever I can add the greatest value: externally, on the deals, partnerships, customers and broader business relationships, government outreach and technology thought leadership.”
So far, he has done very well in leading the company.
For more about changes at Google, as reported by Bloomberg, please click here.
Obama Appoints GE's Immelt as Replacement for Volcker on External Panel of Economic Advisors
GE CEO Jeffrey Immelt will be heading President Barack Obama’s external panel of economic advisers, as Paul Volcker steps down. The panel was renamed the “President’s Council on Jobs and Competitiveness,” and Immelt says it will work with both business and labor leaders, Bloomberg reported.
Immelt was one of the original members of the panel, first known as the Economic Recovery Advisory Board. Volcker was a former chairman of the Federal Reserve. But Immelt is used to replacing prominent leaders. He took over from Jack Welch at GE. There have been mixed reviews when comparing Immelt to Welch.
No matter what Immelt achieves on the panel, he brings with him credentials from the business world – something Obama needs right now, as he tries to find ways to boost the economy and reduce unemployment.
Immelt has been an advocate for increased U.S. exports, competing with China and India, innovation, and implementing clean-energy technology, according to Bloomberg. Still, he remains loyal to his personal hero, Ronald Reagan, who was a paid spokesman for GE before becoming the governor of California and U.S. president.
Bloomberg also reported that Immelt is among a few CEOs who have supported some of Obama’s policies. Others include: Boeing’s Jim McNerney, Motorola Solutions’ Greg Brown and Honeywell’s David Cote.
For more about Immelt’s new role, as reported by Bloomberg, please click here.
Managing, Motivating Twenty-Something Employees
Managing employees in their twenties may seem confusing to some executives. But knowing some generational trends can help motivate, lead and develop younger talent.
Michael Fertik, a CEO and entrepreneur, says the generation wants “to learn and to receive affirmation that they are doing a good job,” according to a recent Harvard Business Review blog. He contends the finest managers for younger employees are who enjoy teaching. When working with twenty somethings do not forget to explain rationales for decisions. It will give them insight into the decision, and “teaches them how you think,” Fertik said.
For this generation, Fertik also recommends:
- Give “decision-making authority” to them on one project soon after they start working.
- Award success in public.
- Ask them questions.
- Encourage them to interact with other employees.
- Give personal attention, such as a call on a birthday.
- Only give compliments when they are deserved.
- Create rewards for the long-term.
- Weekly cycles may get them to do more during the week. Daily goals may be appropriate too.
- Fire poorly performing or “toxic” employees. Otherwise, they will have a negative impact on younger employees.
For more about working with those in their twenties, as reported by the Harvard Business Review blog, please click here.