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CMC Picks Bill Lay as new CEO
mukiha
#1 Posted : Tuesday, May 10, 2011 7:58:11 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
If this was to happen in a public company, many would complain that "the government is employing retired old men, instead of giving jobs to the youth"

Nonetheless, I wonder what challenges Bill will face moving from a company that sells only two brands and a single outlet in one country to a company that has 24 brands, distributed through 10 branches in three countries.
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
erifloss
#2 Posted : Tuesday, May 10, 2011 8:23:05 AM
Rank: Member


Joined: 6/21/2010
Posts: 514
Location: Nairobi
The notion of it will make me jump into CMC like yesterday.
This is the guy who brought efficiency to GM, knows how to lobby govt, has grown an American motor co. in a country where Jap vehicles are considered cheap & fuel efficient, created a management system that makes succession easy & most of all he is a people person.
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
mukiha
#3 Posted : Tuesday, May 10, 2011 8:27:39 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
@rifloss; it's not a notion. Formal announcement will be made soon.
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
KulaRaha
#4 Posted : Tuesday, May 10, 2011 8:43:00 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,514
Yeah, but those guys in CMC dont even use email, they're still on typewriters...he may hit a brick wall.
Business opportunities are like buses,there's always another one coming
VituVingiSana
#5 Posted : Tuesday, May 10, 2011 9:12:36 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,221
Location: Nairobi
I think Bill Lay is a 'caretaker' CEO until the replacement is ready!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
erifloss
#6 Posted : Tuesday, May 10, 2011 10:02:39 AM
Rank: Member


Joined: 6/21/2010
Posts: 514
Location: Nairobi
mukiha wrote:
@rifloss; it's not a notion. Formal announcement will be made soon.

Thanks for the info.
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
Gordon Gekko
#7 Posted : Tuesday, May 10, 2011 10:53:52 AM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
Nice retirement package for Billy Boy
benjackie
#8 Posted : Tuesday, May 10, 2011 11:34:32 AM
Rank: New-farer


Joined: 4/12/2011
Posts: 72
Location: kenya
CMC has no computers...that I can attest.......they type memos in typewriters......there is no email!!!!
bwenyenye
#9 Posted : Tuesday, May 10, 2011 12:26:24 PM
Rank: Elder


Joined: 5/24/2007
Posts: 1,805
I have dealt with CMC a couple of times. Man those fellows wako down tu sana. They will hardly respond to querries and the staff are rude. Very rude. ( with the exception of a few) Woe unto you if you are inquiring on a Land Rover part, you would think those salemen own them! Only to see the fellows taking mats home. Sasa madharau ndogo ndogo ni za nini na wewe huna? That palce needs a total overhaul. Those guys just wait for government to buy... I had to day this. They remind me of Telkom Guys... you reposrt to work to do nothing!!
I Think Therefore I Am
mukiha
#10 Posted : Tuesday, May 10, 2011 12:39:56 PM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
Strange you say that they have no computers, yet I have been communicating with them via email for more than five years now.... and when I go to buy spares, they log into the system identify the part using the vehicle model number and tel me which branch has the part in stock... and they can request for for it from that branch...

Are we talking about the same CMC?
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
Burning Spear
#11 Posted : Tuesday, May 10, 2011 12:57:39 PM
Rank: Veteran


Joined: 7/22/2008
Posts: 1,139
bwenyenye wrote:
I have dealt with CMC a couple of times. Man those fellows wako down tu sana. They will hardly respond to querries and the staff are rude. Very rude. ( with the exception of a few) Woe unto you if you are inquiring on a Land Rover part, you would think those salemen own them! Only to see the fellows taking mats home. Sasa madharau ndogo ndogo ni za nini na wewe huna? That palce needs a total overhaul. Those guys just wait for government to buy... I had to day this. They remind me of Telkom Guys... you reposrt to work to do nothing!!



Thats why Foster was shown the door coz of inefficiecy.

I hope Bill will be able to bring efficiency and modernize the operations of this sleeping giant since now they have secured the govt as a top liquid customer through the VW passat.
The brand they sell are well received by East africans and they only need an agressive MD to counter the overpriced (cheap) japanese vehicles.
"You're not supposed to be so blind with patriotism that you can't face reality. Wrong is wrong, no matter who says it". Malcolm X
mukiha
#12 Posted : Tuesday, May 10, 2011 3:33:51 PM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
The common denominator of opinion regarding Forster seems to be INEFFICIENT. But he maintained over 10% ROCE for a very long time... except the last two years when it fell to 9% and then 7% in 2010.

And that achieved while maintaining a stead growth in assets from Sh3.951b in 2006 to Sh5.879b in 2010 - 8% annually [compounded]
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
VituVingiSana
#13 Posted : Tuesday, May 10, 2011 7:13:45 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,221
Location: Nairobi
Not sure why Forster was kicked out but he did very, very well for many years!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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