Mark Adam, Media Relations World Economic Forum [WEF] on Tuesday [19/5] informed Business News on the prediction of Chief Executive Officer [CEO] in giant multi-national companies, especially those based in the USA, would be sacked. “This prediction alone becomes a positive precedence toward a newly established management system of the world which was part of the G-8 and G-20 commitments. There has been positive perceptions voiced all over the world, if the wisdom of releasing the ‘problematic’ CEO is a necessity to better to situation”.
The US Government, after having completed the “Stress Test” program which thoroughly analyzed a number of banks and followed up with dissecting several companies which were being bailed-out by the US Government – finally decided to get rid of some “problematic” CEO who were regarded as being accountable for the setbacks amidst the global financial turbulence throughout history in terms of loss.
“The moment it was known to cast aside the problematic CEO, positive responses come from the global market. This American plan was probably exemplary because somehow the incapable CEO accounted for the bad report card of companies. If-generally speaking there were companies who managed to survive, or maybe some of them still made profit, the loopholes of the masterplan were still to be blamed on CEO as strategy planners. Therefore with the determination and firmness of the US Government under Barrack Obama, hopefully the jargons of the new system were more than just a commitment but firm actions to be taken immediately”.
An example of one of the most phenomenal kick-out was how Barrack Obama rejected the plan to rescue General Motors [GM] if Rick Wagoner still sat as CEO at GM. In the coming weeks it was predicted that more CEO would be sacked in times of this adverse conditions.
The Anchor Zone
According to WEF, after turbulence subsided, it would soon be visible how the Asian region proved to be the Anchor zone in the process of global recovery. “China, India and Indonesia would soon be recorded in history as nations which remained to grow amidst the terrible turbulence. On May 18 to June 19 the WEF convention would be held in South Korea to review the Asian region in particular and the effective recovery strategy to be exercised by Asia. Now the Western society must learn a lot from what was being done by Asia”.
Beside the said event, another convention would take place in New Delhi India Economic Summit to explore the potentials i.e. how India and China with their vast population were able to distinctively grow amidst the world’s un-condusive climate. Of the two events, it was expected to draw some conclusion toward building a stronger, more resistant order.