BBC World News, one of the most widely watched current affairs programmes in the world, recently launched a unique business show called "The Ideas Exchange." Instead of conventional interviews between an executive and a correspondent, this eight-part series eliminates the journalist altogether. Instead, two CEOs from different industries interview each other about leadership style, crisis management skills and strategic vision.
Renault-Nissan CEO Carlos Ghosn and Indian software company HCL CEO Vineet Nayar were two of the first executives featured.
Mr. Nayar was keen to discuss the 1999 Nissan turnaround. In particular, Mr. Nayar asked how it felt to have to cut 21,000 positions in Japan, where lifetime employment is sacred. Mr. Ghosn said he had no choice because Nissan would not have survived without drastic surgery: “You feel very bad about it. I can tell you that in the week before I announced the Nissan revival plan in October 1999 I didn’t sleep too much,” he said.
Although criticised at the time, within a few years Mr. Ghosn’s actions were lauded. “We came from a company which had been declining for 10 years to a company which has been growing for 10 years.”
This was the first time Mr. Ghosn had met Mr. Nayar, whom Harvard Business Review included in a recent ranking of the "50 most influential management gurus." He's famed for his unconventional style. For instance, Mr. Nayar performs a traditional Indian dance on stage and with employees at an annual internal event. He also imposed a system of full transparency for employee reviews -- including his own. Every year, 90,000 employees can submit anonymous reviews of the CEO, and everyone can read the ratings and commentary.
“It shows I am willing to learn from the feedback and correct myself if needed,” Mr. Nayar told Mr. Ghosn.
Mr. Nayar asked Mr. Ghosn about the car industry’s contribution to climate change. Mr. Ghosn admitted that transportation is part of the cause of global warming “and we need to be part of the solution.” Asked about his legacy, Mr. Ghosn laughed and said: “If people remember me, it will be as the man who turned around Nissan, a company undoubtedly going into bankruptcy in 1999, and hopefully as the main pioneer of mass market zero emission cars.”
Please see the full episode here:
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