Mergers and Acquisitions - Krug, Jeffrey
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Mergers and acquisitions can be tumultuous for executives. Target companies can expect to lose close to 40 percent of their top management team within two years after acquisition. Executives who stay often lose status and autonomy and view their company's acquisition as detrimental to themselves both personally and professionally. It is common for acquiring firms to replace target executives with their own shortly after an acquisition. The evidence, however, shows clearly that doing so leads to lower target company performance. Why, then, are acquiring firms so quick to replace target company…mehr

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Produktbeschreibung
Mergers and acquisitions can be tumultuous for executives. Target companies can expect to lose close to 40 percent of their top management team within two years after acquisition. Executives who stay often lose status and autonomy and view their company's acquisition as detrimental to themselves both personally and professionally. It is common for acquiring firms to replace target executives with their own shortly after an acquisition. The evidence, however, shows clearly that doing so leads to lower target company performance. Why, then, are acquiring firms so quick to replace target company executives after an acquisition? This book provides executives with an in-depth look at the consequences of M&As for acquired top management teams. It examines M&As as a corporate growth strategy, the importance of top management teams to a firm's long-term performance, the reasons why executives depart after an acquisition, and the effects of these departures on target company performance. It then discusses when executive turnover may be desirable or undesirable and how acquiring firms can more effectively manage target company executive teams during the integration process. An understanding of these leadership issues will play an important role in determining merger success.
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Autorenporträt
Dr. Jeffrey A. Krug holds the Jack and Vada Reynolds Chair in International Business and is Professor of Management at Loyola University New Orleans, where he teaches international business and strategic management. He has taught in a variety of executive and international programs at Penn State, University of Illinois at Urbana-Champaign, Indiana University, The College of William & Mary, Virginia Tech, Virginia Commonwealth University, The University of Memphis, Appalachian State University, and University of Münster in Germany. He has won numerous teaching awards and was twice named Outstanding Instructor of the Year by the Executive MBA program at the University of Illinois. Krug received his Ph.D. in strategic management and international business from Indiana University in Bloomington. He received his masters in international business and bachelors in economics from The Pennsylvania State University. He is nationally recognized for his research on corporate and global strategy and executive leadership in mergers and acquisitions. He has authored or edited five books on corporate strategy, mergers and acquisitions, international business, and executive leadership. His articles have appeared in Harvard Business Review, Strategic Management Journal, Journal of Business Strategy, California Management Review, Journal of World Business, Journal of Management & Governance, Journal of International Management, and other leading journals. A well known keynote speaker on the post-merger top management team effects of M&As, he consults on post-merger integration issues, facilitates executive strategic planning sessions, teaches on-site executive education programs, and presents on a variety of topics, including corporate strategy, M&As, and global strategy. He has worked with a wide range of companies in the United States, Europe, and Latin America and has been engaged as an external consultant with Accenture's Organizational Strategy Group in Washington, D.C. He previously worked at PepsiCo, Inc., where he was manager of finance and strategic planning for PepsiCo's Kentucky Fried Chicken division. He also held several positions at Texas Instruments Incorporated, including manager of financial planning for Latin America, credit manager for Latin America, and marketing systems analyst in TI's European Semiconductor Group in Nice, France. He previously worked in the International Corporate Lending group at the Commerzbank AG in Düsseldorf, Germany and in the Economics Department of the Austrian Postal Savings Bank in Vienna.