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- 2. “A process through which leaders identify and help groom their replacements before moving on to other positions themselves” Ongoing process of systematically identifying, assessing and developing future organisational leadership to enhance performance
- 3. Helps to plan for future leadership positions Avoids ill-timed promotions Helps sourcing employees internally Enables smooth cultural transition Ensures employees’ career development and individual growth Less expenditure on recruiting and retention
- 4. Eliminates possibilities of external sourcing Develops insecurity or fear Sometimes becomes subjective and biased Consumes lot of financial resources and top management time Requires time to develop the replacement
- 5. High complexity of business with high stakes Poor planning can jeopardize the future of the company Strategic planning and execution is not disturbed Mission and Vision of company is carried forward Managers are trained for future key positions to reach full potential
- 6. Personal clashes may cause professional turbulence and to avoid nepotism Right allocation of business responsibilities Heir might be unsuitable for the family business Someone to carry forward the mission and vision
- 7. Founded by Bhai Mohan Singh in 1952, incorporated in 1961 Dr. Parvinder Singh joined in 1967, becomes MD in 1982, took complete control in 1993 Brar was appointed as MD & CEO in July 1999 Brar announced his decision in December 2003 to resign Dr Brian Tempest was appointed as MD and CEO in July 2004
- 8. Dr. Parvinder Singh believed in running the business professionally Supported succession planning at CEO and Chairman level Wanted his sons to earn high ranks by merit Mr. Brar was one of Dr. Singh’s most trusted and important men Brar was appointed company’s CEO in 1999 after Dr. Singh’s death
- 9. Brar joined in 1977 as Business Development Manager Brar announced retirement plans in 1997 Successor was Dr. Brian Tempest who was company’s president and a board member
- 10. Strained relationship between professionals and promoters Differencebetween Dr. Singh and Bhai Mohan Singh Brar supported Dr. Singh’s strategy Promoters wanting to establish management control Bhai Mohan Singh was unhappy with Brar’s appointment Officials denied such issues
- 11. Controversies refused to die out His decision was personal choice He had already decided in 1997 of his retirement plans Ensured smooth transition
- 12. His succession plan will be implemented Dr. Brian Tempest became the MD & CEO on 5th July 2004 Professionalism in approach Dr. Singh emphasised professional approach Didnot favour his sons Chose team of professionals
- 13. Dr. Brian Tempest was senior most member 32 years of industry experience Tempest focused on grooming people and HR activities Robust team already prepared by Brar Tempest was not a visionary but a vision is already in place
- 14. Too quick changes in top management is unadvisable Enough time to groom Malvinder Singh Managers close to family will rejoin Sense of ownership and professionalism
Hinweis der Redaktion
- Question one: 2 to 6Facts: slide 8
- Page 234-235
- Page 234-235
- Page 234-235
- eg
- Page 237-238
- Jan 18 2006- malvinder CEO n MDBrian became chief mentor n exec vice chairmanSource is annual report 2005
- Decemebr 2003 decide to resign- 233July 2004 tempest takes over- 233Strained relationship- 233Promortes wanting to establish Establishing control – 233Officals denied that thingBrar made ranbaxy from small indianpharma co to global majorGaruda visionPg 241:Dr singh ambitious hardworkin, encoirgaedresearcg based growth, adopted high professional stds, corp governance, ethics,Chose team of professionals to transform ranbxy into MNC pharma giantNt favored malvinder or Shivinder… wanted them to come on merit, desptefather;scriticsm, wanted them to come to board only after professional experience, Pg 242:In early 1990- diff between drsingh n bhaimohansingh. Dr singh wanted to take risk of investinhugge amount in R&Dnintl ops. Brar supportedIn late 1990, brar chalked strategy for half ops in US this also was opposed by family membersPg 2432003- garuda vision by brar, detialed visionPg 246Some saw his resignation as result of disagreements, but he had already decided in 97 to leave after finishin 25 years to go for his other pursuits. He said he wil ensure smooth transition2003 bhai had spoken to media, seemed unhappy havinbrar as ceo but was happy of his contricbution to ranbaxySaid he was not unhappy with brar but his son as he displeased others by upgrading brarTempest being apointed itself shows professionalism in approachChanges in top mgtPg248:Malvinder has shown great capabilty in ops, team mgt, cost effecieiny, shown father’s integrti n hardwork, Was made pesident n board memeberscos of his capabilty, not because he is owner
- Decemebr 2003 decide to resign- 233July 2004 tempest takes over- 233Strained relationship- 233Promortes wanting to establish Establishing control – 233Officals denied that thingBrar made ranbaxy from small indianpharma co to global majorGaruda visionPg 241:Dr singh ambitious hardworkin, encoirgaedresearcg based growth, adopted high professional stds, corp governance, ethics,Chose team of professionals to transform ranbxy into MNC pharma giantNt favored malvinder or Shivinder… wanted them to come on merit, desptefather;scriticsm, wanted them to come to board only after professional experience, Pg 242:In early 1990- diff between drsingh n bhaimohansingh. Dr singh wanted to take risk of investinhugge amount in R&Dnintl ops. Brar supportedIn late 1990, brar chalked strategy for half ops in US this also was opposed by family membersPg 2432003- garuda vision by brar, detialed visionPg 246Some saw his resignation as result of disagreements, but he had already decided in 97 to leave after finishin 25 years to go for his other pursuits. He said he wil ensure smooth transition2003 bhai had spoken to media, seemed unhappy havinbrar as ceo but was happy of his contricbution to ranbaxySaid he was not unhappy with brar but his son as he displeased others by upgrading brarTempest being apointed itself shows professionalism in approachChanges in top mgtPg248:Malvinder has shown great capabilty in ops, team mgt, cost effecieiny, shown father’s integrti n hardwork, Was made pesident n board memeberscos of his capabilty, not because he is owner
- Decemebr 2003 decide to resign- 233July 2004 tempest takes over- 233Strained relationship- 233Promortes wanting to establish Establishing control – 233Officals denied that thingBrar made ranbaxy from small indianpharma co to global majorGaruda visionPg 241:Dr singh ambitious hardworkin, encoirgaedresearcg based growth, adopted high professional stds, corp governance, ethics,Chose team of professionals to transform ranbxy into MNC pharma giantNt favored malvinder or Shivinder… wanted them to come on merit, desptefather;scriticsm, wanted them to come to board only after professional experience, Pg 242:In early 1990- diff between drsingh n bhaimohansingh. Dr singh wanted to take risk of investinhugge amount in R&Dnintl ops. Brar supportedIn late 1990, brar chalked strategy for half ops in US this also was opposed by family membersPg 2432003- garuda vision by brar, detialed visionPg 246Some saw his resignation as result of disagreements, but he had already decided in 97 to leave after finishin 25 years to go for his other pursuits. He said he wil ensure smooth transition2003 bhai had spoken to media, seemed unhappy havinbrar as ceo but was happy of his contricbution to ranbaxySaid he was not unhappy with brar but his son as he displeased others by upgrading brarTempest being apointed itself shows professionalism in approachChanges in top mgtPg248:Malvinder has shown great capabilty in ops, team mgt, cost effecieiny, shown father’s integrti n hardwork, Was made pesident n board memeberscos of his capabilty, not because he is owner
- 2 bn $ co by 2007Speak mainly fm pg 249 n 250
- Jan 18 2006- malvinder CEO n MDBrian became chief mentor n exec vice chairmanSource is annual report 2005