Welch, Dunlap and Nasser have now left the building: Is it time we got rid of the celebrity CEO?

Abstract

In 1994 consumer company Scott Paper was tired, bloated and more importantly, it was losing money hand over fist. Enter “Chainsaw Al” (a.k.a. Al Dunlap). This cost cutting, job slashing turnaround specialist earned his nickname as a result of his ability to cut out the dead wood and revive the fortunes of flagging organizations. Sure enough, Scott Paper’s stock price began to rise and within 18 months it was involved in a major takeover deal. Liking what it saw, appliance manufacturer Sunbeam Corporation approached Dunlap in 1996 to become its CEO and in the beginning it appeared that “Chainsaw Al” was once again working his stock price magic.

Citation

(2003), "Welch, Dunlap and Nasser have now left the building: Is it time we got rid of the celebrity CEO?", Strategic Direction, Vol. 19 No. 3, pp. 5-8. https://doi.org/10.1108/02580540310794363