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mukiha		#1 Posted : Wednesday, March 16, 2011 12:15:14 PM
Rank: Elder Joined: 6/27/2008 Posts: 4,114		Long serving Group CEO, Martin Forster was shown the door yesterday. A replacement has not been appointed yet; a caretaker committee of the board has taken over his functions. There is something fishy here... after heading the company for so long, an abrupt sacking like this one raise eyebrows. I wonder if his son Greg will also be kicked out from the Divisional General Manager [Land Rover Kenya] position. Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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vestor		#2 Posted : Wednesday, March 16, 2011 12:28:15 PM
Rank: Member Joined: 11/9/2010 Posts: 132		So no job security anywhere?
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ProverB		#3 Posted : Wednesday, March 16, 2011 1:15:07 PM
Rank: Veteran Joined: 3/12/2010 Posts: 1,199 Location: Eastlander		mukiha wrote: Long serving Group CEO, Martin Forster was shown the door yesterday. I wonder if his son Greg will also be kicked out from the Divisional General Manager [Land Rover Kenya] position. Bravo!! Its about time we realised expatriates are mostly celebrated and not necessarily able to deliver.. Jim Collins, Author [b wrote: Good To Great[/b]]If we allow the celebrity rock-star model of leadership to triumph, we will see the decline of corporations and institutions of all types. The twentieth century was a century of greatness, but we face the very real prospect that the next century will see very few enduring great institutions. I really look forward to the day i will read a similar headline on KQ! ..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16 - 1769 Oxford King James Bible 'Authorized Version
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amolo		#4 Posted : Wednesday, March 16, 2011 1:58:28 PM
Rank: Member Joined: 1/29/2007 Posts: 70		On KQ, CEO has done a wonderful job, but we now need new blood with new ideas, the Safaricom type of thing. MJ was a great guy, he did a wonderful job, but time came for a greater guy. TN of KQis also a great guy, he's done a wonderful job. But we now need a greater guy there!
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VituVingiSana		#5 Posted : Wednesday, March 16, 2011 3:06:27 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,259 Location: Nairobi		ProverB wrote: mukiha wrote: Long serving Group CEO, Martin Forster was shown the door yesterday. Bravo!! Its about time we realised expatriates are mostly celebrated and not necessarily able to deliver... Overall, he has done very well for CMC which has grown leaps & bounds over other firms. Its competitors have collapsed over the years. Marshalls is a mere shadow of its former self... Motor Mart went bankrupt as well... Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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Sasha		#6 Posted : Wednesday, March 16, 2011 3:23:24 PM
Rank: Veteran Joined: 9/5/2007 Posts: 627		Word is he has had a number of disagreements with the board regarding some changes in operations and strategy. He wanted to maintain status quo while the board was of a different opinion. Like VVS says, he did well for the company where competitors failed. However, he failed to read the signs in the motor industry and stuck to his guns, believing that he would be vindicated. Clearly the board did not share his view. Interestingly, CMC have a recently recruited a new Group FD. It appears that getting Forster out was strategic in infusing fresh blood into the company. Now, if only KQ & NBK would think the same!
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VituVingiSana		#7 Posted : Wednesday, March 16, 2011 3:35:21 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,259 Location: Nairobi		KCB has an interesting strategy... Max 2 terms for Chairman's post... so even if CEO remains, the thinking may be influenced by 'change'... BTW, the best CEO is often those who have a significant ownership stake like Warren Buffett... Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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FundamentAli		#8 Posted : Wednesday, March 16, 2011 4:15:57 PM
Rank: Veteran Joined: 11/4/2008 Posts: 1,289 Location: Nairobi		Why did motormart go burst? Was it an issue of intergrity? They issued a commercial paper and went under with pensioners Shs. 3 billion. I do not think that this has anything to do with business. As for Marshalls, Peugoet are not as popular as they used to be. Toyota took that mantle. The models Peugoet are rolling out are not a it locally.
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Gordon Gekko		#9 Posted : Wednesday, March 16, 2011 5:32:03 PM
Rank: Elder Joined: 5/27/2008 Posts: 3,760		My memory fails me, but wasn't Motor Mart an insurance company??
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mukiha		#10 Posted : Thursday, March 17, 2011 9:46:30 AM
Rank: Elder Joined: 6/27/2008 Posts: 4,114		@GG; Motor Mart were the owners of Toyota Kenya Ltd and Bruce Trucks (dealers of Mitsubishi Fuso Trucks). The main shareholder was Lonrho Group. Infact, motor Mart later became Lonrho Motors.... Back to Martin Forster; I heard from an employee of CMC that after the disagreement in the boardroom, he was supervised by security officers as he packed he things from the office and escorted under guard to the door! Something big must have been uncovered; this talk of disagreement about profit recovery strategies is just a cover-up... Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Sasha		#11 Posted : Thursday, March 17, 2011 10:30:41 AM
Rank: Veteran Joined: 9/5/2007 Posts: 627		@mukiha: Very true! And apparently his son is on his way out. Unauthorised contracts signed, underhanded tactics to increase sales etc!
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VituVingiSana		#12 Posted : Thursday, March 17, 2011 1:35:01 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,259 Location: Nairobi		What a way to leave after so many years... Sometimes it is better to leave while at the top! Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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miser		#13 Posted : Thursday, March 17, 2011 4:11:02 PM
Rank: Member Joined: 7/7/2008 Posts: 124		There was info sometime ago that some largess was given out as bribes or campaign funds from the company's coffers!!!
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Another-Opinion		#14 Posted : Friday, March 18, 2011 10:48:08 AM
Rank: Hello Joined: 3/18/2011 Posts: 1		Thank God that what goes around comes around.. Forster was the meanest person thinking he owned the world.. Glad he got a taste of his own medicine.. As a young person starting out , I experienced his "Mightier than thou/ you can't touch me arrogance"... Good riddance to bad rubbish!!!!!!!!! And his son should follow suit..
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