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CEO Video

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Good Afternoon Board! Hey! Geeks! How are you guys doing today? Good! Oh alright, well this meeting was arranged today because I would like to discuss plans for the upcoming year. But before we delve into this issue there is something that we need to discuss right now is that Steve our CEO's salary and compensation. Steve's made enormous contributions to Tech Geeks R Us this year. So let's discuss some of those contributions that he's made. Let's discuss his performance and let's discuss some of the salaries of other CEO's in this job market. How important is leadership in this company anyways? Is it important to have a competent CEO in this company? I think that leadership is very important. You know it is an important component to the success of an organization. And Steve has a special talent that is valuable to our company. Not anyone can perform what Steve has achieved this year. And the skills and responsibilities that are required of this job are enormous. It is very hard to find people who can fit that role. It's really limited. Yeah and Steve performs a substantial and complex role in this organization. What do you mean by complex? Well, for example CEO's leading Fortune 500 companies often head up organizations have tens of thousands of employees that generate billions of dollars of revenue each year. These top executives decide what businesses their companies will pursue, the overall strategies of the company, and how much to invest in their company They are among the best compensated individuals in the world often making $1-200 million in salary and stock options each year. That's true. Leadership affects us profoundly in many ways. That's why it is important and it would be great if people in positions of authority are good at it. Well, it is difficult to find competent CEO's who are willing to work in this competitive environment. And it is understood that managing a developing technology company is challenging. However, we need to keep in mind that we need to align CEO's pay according to our shareholder's interest. Large paychecks, large packages or not only obscene, but they reward short-term thinking, and near-term profitability all at the expense of our companies long-term goals. Exactly, a recent study shows that the base rate of managerial incompetence is somewhere around 50-75%. In other words, a majority of people who are in leadership positions are not particularly effective at influencing the organizational goals. I agree to that, and you know what maybe people think that way. CEO's are simply getting paid way too high. I think we need to base his salary according to his performance and we need to tie those result to the companies profits. That's true and think that Steve is a competent CEO. He has proven that to us over the course of his tenure with us. And his contributions are also reflected in the increase value of our stocks and the rapid growth of our company. Can you give some specific contributions that he's made? Sure! You know one of our main priorities was to increase the value of our company. And it has been achieved with the increase value of our stocks. Stocks have increased since Steve has been here 30% relative to the stocks of other companies in our industry. Not only that, but he has created an environment where employees can be creative and for instance when he created the geeky room. For the research and development team where many of our products were born. And you know what. I think I am going to add to that in the last couple of years, Steve has restructured our company. He has developed a compensation plan for employees. He has also established a new performance appraisal system. Based on employees performance and you know what. I think I have some handouts here. Why don't you let me pass these around. There are copies of the climate survey that we gave our employees a couple of weeks ago. And as you can see in the results, job satisfaction, synergy within the organization, management style, empowerment of employees has never been that high for several years. It's true, they are pretty high. Impressive. Can someone tell me a little bit about Steve? What's his reputation like? Well, to answer your question Will. Steve has obtained an MBA from IESE Business School. He also has a Ph.D. from the George Washington University. He's served as a consultant to major multinational corporations in organizational design, organizational change, and in Human Resources Management in over 20 countries. He has a wide range of clients that include The Bank of Portugal, Exxon Mobil, Shell, DHL, and even Sara Lee. That's pretty good! That can work for the benefit of our company. He defined organizational structures and HR policies for numerous organizations He has also served as a coach to entrepreneurs and also sat on start-up boards. That's very impressive, can someone tell me what the demand is like for high performing CEO's in this industry? Sure! Well, according to Booz Allen Hamilton, a strategy and technology consulting firm "CEO's who can deliver results are in great demand" And Steve is a very high performing CEO. His personal marketability is something that we want to make sure that we keep here at Tech Geeks R Us. That's true. He does have a high personal marketability. I have heard from other sources that a lot of our competitors are trying to make him offers to go to their companies. So that is something that we really need to look into we need to keep Steve. He's a good one! Alright, well let's keep that in mind then. Let's reconvene after we take a break and we can continue discussing this later.

Video Details

Duration: 7 minutes and 5 seconds
Country: United States
Language: English
Genre: None
Views: 72
Posted by: hbsurferbeb on Nov 22, 2008

Ceo video

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