Harman CEO Dinesh Paliwal, 57, advises CEOs who find themselves in this position to “never completely ignore the founder. Keep him informed. Make him feel he is part of it. If you abruptly cut the founder off, then you invite trouble or a boardroom coup because an outgoing founder has board members who love and adore him.”
For Paliwal, who spent 22 years with ABB, the Swedish-Swiss-based $50 billion global energy and industrial conglomerate, taking over from a founder CEO was especially demanding. Having co-founded Harman Kardon in 1953, a company noted for its premium audio products, Sidney Harman was struggling with more than a succession problem. He had sold his company to Beatrice in 1976 only to buy it back in the 1980s, then face competitive turbulence and the need to revamp operations to get it back to fighting trim.
Two different CEOs came—and went. Each clashed with the founder and his board, which was comprised of numerous friends of Harman’s, including, at one point, his daughter. Paliwal, who had worked and lived in six different countries, including the U.S., China, Switzerland, Singapore, Australia and his native India, was brought in first as vice chairman prior to becoming CEO in July 2007. “When I was first interviewed,” he recalls, “I told Dr. Harman that I needed room because I’m decisive. I don’t want to be second-guessed every day.”
Around this time, Goldman Sachs and KKR had made an $8.3 billion offer for the company, only to pull the plug when internal problems proved bigger than they were led to believe. At the time, credit markets were also drying up. Faced with an existential crisis, the board, including Harman, turned to Paliwal asking, “What will it take to keep you?” “It will take a few years, but I will fix it. However, I need the freedom to choose my team and do the right things,” he responded.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
