Mega corporations like the media giant, Time Warner, only make company changes when they feel it is absolutely necessary. Companies this size don’t have time to deal in trivial matters, but have to consistently tweak the bottom line to keep investors happy. Recently, Time Warner made a significant internal change when they promoted Jeff Bewkes to the rank of Chief Executive Officer. Replacing Dick Parsons who had been with the company for five years, Bewkes feels that his new term as the company’s leader will bring a stronger added value to the company while making sound business decisions that will keep shareholder’s happy.
"Mr. Bewkes gave a hint that he would look critically at Time Warner’s mix of businesses. Careful to praise Mr. Parsons as a man who “accomplished much to restore Time Warner’s stature as the world’s leading media and entertainment company”, he added: “We have a lot to do, and I’m intensely focused on building shareholder value.”
Whenever a company experiences struggles or difficulties, leadership is usually the first area that’s analyzed so the company can gain a clear perspective on what needs to be done to strengthen it. In Times Warner’s case, a great deal is expected from this new leader. He has a very direct mission for his new leadership role that focuses on shareholder's happiness. Bewkes is the answer to Times Warner’s prayers. Or is it? We will see after Jeff Bewkes takes office at the beginning of 2008. Maybe he will deliver, maybe he won’t. But in Times Warner’s case, they certainly will change again if he doesn’t.
Comment Preview