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CEO: a mission impossible?
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January 29, 2001: 10:45 a.m. ET
Top bosses say the job can be done, but it's not easy
Rod Cant CNN.com Europe business writer
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DAVOS, Switzerland (CNNfn) - Top bosses said on Monday that their jobs were not impossible, but they did admit to the stresses and strains sometimes being too much.
Senior executives from Europe, Asia and the United States shared a platform during the World Economic Forum to discuss the issues and responsibilities of leading a multinational company.
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"My job is absolutely not impossible. I love my job. It's just that there are some times I love my job more than others."
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Michael Capellas
CEO
Compaq Computer |
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Dan Vasella, chief executive of giant Swiss drug firm Novartis admitted he was "sometimes overwhelmed" by the demands put upon him, and said he couldn't possibly fulfil all the requirements made of him.
He agreed with Michael Capellas, CEO of U.S. computer maker Compaq (CPQ: Research, Estimates), who said:
"My job is absolutely not impossible. I love my job. It's just that sometimes I love my job more than others."
Capellas added that company bosses "are all type-A personalities...aggressive and dedicated people," and therefore he wasn't worried about the personal cost of their hectic lifestyle.
A sign of the pressure placed on major company bosses came from Taizo Nishimura, chairman of electronics firm Toshiba:
"I enjoyed being a CEO but I confess now I feel free and relaxed, having retired (he handed over the CEO role last year)." 
Nishimura seemed to encapsulate his fellow execs' feelings when he summed up:
"Management is a science, but being a CEO is an art."
All the bosses said the had got faster and more complex. Capellas pointed to recent cooperation agreements between his firm and arch-rivals IBM (IBM: Research, Estimates) and Hewlett-Packard (HWP: Research, Estimates) as examples of the increasing complexity of modern business. Partners in some areas are fighting desperately in other businesses, he noted.
Communication was another serious preoccupation of the panel, keeping staff in touch with important decisions as well as shareholders and news organisations. 
In particular, US-style quarterly reporting had jacked up the pressure on companies to deliver, and Deutsche Telekom's (FDTE) Ron Sommer said the objective is to clearly communicate long-term vision on a short-term basis.
Capellas had some advice for his audience, pointing to a failed Compaq advertising campaign that had troubled him right from the start.
"Trust your instincts," he said, "because you can have all the charts and graphs in the world, but you manage by instinct."
He warned too, that the failure rate of CEOs will remain high -- that's just the way it is." 
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