Archive for the ‘New jobs’ Category

Tachi Yamada retires – takes on $28 billion job

February 8, 2006


Tachi Yamada, 60, is retiring this summer from one of the biggest jobs in the pharmaceutical industry to take on an even bigger assignment where he will have a $28 billion budget to tackle killer diseases from Aids to dipthheria as well as whooping cough, measles, polio and yellow fever.

As chairman of Glaxo SmithKline’s research and development operations, Yamada is credited with turning the company with the worst pipeline of news drugs into one with the best.  He is now leaving to run the global health programme of the Bill and Melinda Gates Foundation, the world’s largest charitable organization.

Stepping into his place at GSK is Dr. Moncef Slaoui, a senior colleagues who has been with the company 17 years, is a recognised expert on vaccines, has dual Belgian and Morocco nationality and speaks fluent English, French and Arabic.

According to observers, these changes point to a top management reshuffle in the foreseeable future involving a successor to Dr. Jean-Pierre Garnier, the company’s Chief Executive Officer.

Thanks for reading Big Business

David Davis


Don Carty – plucked defeat from jaws of victory

February 7, 2006


On the face of it, Sir Richard Branson has made a strange choice of a man to get his stalled plans for Virgin America off the runway.

Don Carty, who has been named non-executive chairman of the US start-up, was the former chief executive of American Airlines forced to resign in 2003 amid uproar over a multi-million dollar executive compensation plan he failed to disclose after negotiating a $1.6 billion rescue package of pay cuts with the unions.
As Business Week commented at the time: “…….Carty’s megablunder is so appalling. …….because of his ineptitude or arrogance……”

He later explained it this way:  “The mistake we made is on the timing of the disclosure of that information and explaining it to the employees. It became public almost coincidental with the vote they all took to accept these very substantial changes to their contract. Letting that coincidence happen has to be the responsibility of management. I’m the CEO, so I’m the most responsible party.”

Sir Richard has planned the new airline for more than three years, funding and a strong management team are in place but has been frustrated by the US regulators who have demanded more information about the business plan and foreign ownership interests before giving its approval.

Carty, a 57 year old Canadian with a lifetime in the airline industry, has been brought in to unblock the blockage.  He will certainly need a more sensitive touch than he showed at American Airlines where he paid the ultimate price for snatching defeat from the jaws of victory.Thanks for reading Big Business.

David Davis

New role for John Studzinski

January 27, 2006


According to the grapevine, John Studzinski, (above) one of the City of London’s highest flyers, will be taking home £13.5m  in salary and bonuses about now and soon he will also be starting a new job.

John’s earned his bumper pay packet as co-head of investment banking at HSBC, which has dubbed itself “the world’s local bank”.  He is now reportedly to be reassigned as special adviser to chief executive Stephen Green who is to succeed Sir John Bond as chairman when he takes on the leadership of Vodaphone later this year.

HSBC started life as the Hong Kong & Shanghai Banking Corporation in 1865, but moved its headquarters to London when it bought Midland Bank in 1992. Its operations have since been unified under the HSBC brand comprising 9,500 offices in 80 countries.

Studzinski’s new role will be to help Green with the bank’s plans to expand in emerging markets, where it has so far failed to build a large investment.

At 50 and with more than 20 years in banking, Studzinksi is not the usual type of brash heavy hitting corporate banker.

He is urbane and affable, with a black book of contacts the envy of most of his rivals. He has  degrees in both sociology and biology and has given millions away to human rights causes, the homeless and the arts.   On Saturday nights he can often be seen serving up food to down and outs at a shelter he helped to set up near London’s Victoria Station.

His work for the homeless was honoured In 2000 when he received the Prince of Wales Ambassador’s Award and a year later he was made a Knight of the Order of St. Gregory by Pope John Paul II.