In light of Stan O’ Neal’s departure from Merrill, Class Action lawsuits against Countrywide CEO and WellCare Health Plans, a private equity veteran was interviewed on what makes a good CEO from a PE perspective. Two things stuck out.
They look for people who can add value quickly (cost cutting, low hanging fruit, no Friday bagels, etc.). He also mentioned people who can think clearly and act quickly and report information in a concise manner. Now that’s a requirement, I would imagine a lot of folks would meet right off the bat. For that matter, this is a requirement for pretty much every job, except if you’re a story teller, in which case, the more loquacious you are, the better it is.
I was pretty amused and a little surprised that there was no mention of leadership skills, understanding of the industry and most importantly personal integrity as basic requirements. I love the corporate world for all of it follies because that is yet another place to make a difference.
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