Cellnex, vodafoneadmiral, Santander Bank, OrangeIberdrola, Cuatrecasas… In recent weeks, top executives of more than twenty large companies in Spain have replaced their top managers, both CEOs and presidents.
What motivated all these changes? Experts consulted assets refers to the consequences of stopping it caused. Pandemicmore concern for cyber security or simply the desire to interrupt a long conversation ancient ages in the office. According to PricewaterhouseCoopers, the average tenure in a CEO position in Spain was 10 years in 2020. Today it is half.
Wolf Designerassociate professor of business economics, Carlos III Universityexplains that these changes may be the result of “certain pressure from companies to change the profile of their CEOs.” Desender points to several trends that can dominate when it comes to the selection of corporate executives: technology plays an important role: “Risk cyber attacks ignored; they didn’t exist before”, says Desender, of companies “arm at the highest level” in the face of these new threats.
For this teacher, managers with a lot of experience tend to present a “more traditional profile”, more focused on finance and accounting, which means to minimize such risks. In such a connected world, the chances of being exposed to cyberattacks have increased; this is something that should be considered at the highest level in companies and should not be passed on to other employees. Tech companies are more aware of this, which motivates a greater focus on engineering and IT profiles. Second, for Desender, the dismissal or replacement of a leadership can simply happen. trigger movements in other companies in the industry: “One move by the CEO sufficiency It can create doubts within a company”.
Dance of CEOs and Presidents
Tobias Martinez GimenoCEO of wireless telecommunications infrastructure company Cellnexsubmitted his resignation on January 11. Predictably, he will leave this company on June 1st. Martínez argues that the current economic-financial context “new phase based on maximizing organic growth and consolidation of industrial project”.
on January 12 vodafone announced his departure Colman Deegan, has been the CEO of this company in Spain for over two years. At the same time, the telecommunications company is reorganizing its subsidiaries; It will integrate Spain into the European group, which includes less relevant markets, which will reduce its weight. During Deegan’s tenure, the company tried to straighten accounts in the Spanish market, where it failed to complete a merger. MoreMobilfinally joined Orange.
is fully fused with MoreMobil When Orange Spain announced his appointment ludovic pech as the new CEO Jean-François Fallacher. Pech, who will take office in April, has held the same roles so far. Africa And Middle East. Fallacher will remain the company’s director in Spain and future non-executive chairman. joint venture with MasMobile.
on his behalf Almirall Pharmaceuticals He continues to look for what would become his fifth CEO in five years after resigning “due to new professional challenges” in November. Gianfranco Nazzihas been on the job for a year and a half. Carlos GallardoThe president of the firm assumed the CEO position on an interim basis.
while banking He is no stranger to these movements either: on January 1st, Hector Gray took over as CEO Bank Santander changing Jose Antonio Alvarez. Moreover German neobank N26 recently announced the departure of the general manager of Spain and Portugal, Martha Echarri. Moreover, Paolo Vasile Resigned from his position as CEO Mediaset Spain at the end of last December. The group now has three CEOs responsible for content, management and advertising.
epidemic corona virus It has plunged companies into an environment of complexity and uncertainty, and all this time there has been no such movement. According to that IESE professor Miguel Angel Arinonow, with a clearer future, “this mummification of unrealized changes” may begin to break in the current situation, and more ” economic horizon looks clearer” (most forecasts point to a moderate economic recession in the eurozone in 2023).
Error in accounts after pandemic
Moreover, alberto tuitionprofessor IEThe consultant and entrepreneur looks at other effects of the pandemic that are still being felt on companies, especially tech companies: Pandemic“People looked for a way to continue living, and that was thanks to technology”. Technology companies responded to all this new demand and thought that “this wind will continue after the pandemic”. But, they made a mistake in this calculation and it has already had consequences for their staff.… and possibly also about directors. “Those who achieve big growth like 20 percent, They agreed to grow 25% the following year And it is very difficult to maintain that rhythm.” Changing the CEO in the eyes of the shareholders at that moment is football team changing coach”.
Stop solidification in “corner positions”
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arino He also points out: “The cause is unknown. Although he says “There may be many different reasons”, he also draws attention to the fact that there are definite reasons. elite positions that managers risk “doing” consolidation“, “which is not good.” “Top guys who have held their positions for so long” can print a style and traits that make them better. static organization”. Desender also cites seniority in a manager’s position or board member as a reason for dismissal.
Other changes to examine in the senior management of companies in Spain include: alcohol related to Miguel Lopez-Quesadareplacing Álvaro Dorado; designation Oscar Vincent as CEO eel aguinaga; and the appointment of José Antonio Benito Díaz as president of Covirán. On the other hand, such a movement did not occur only in Spain. Inside United States of America Challenger, Gray & Christmas firm, 1,135 CEOs in full 2021 8% less than 2021, not counting the range.