Back in 2001, when interviewed in Real Business, Jon Moulton was asked about the reason the UK lacked truly great managers. "A bit of it is education, a bit is structural, a bit is inevitable, he said. Then he reflected: "many a good manager becomes bad, many a company outgrows its management." He went on: "In the UK we have poor corporate governance structures to change management. If you want to get philosophical about it, the fact that we do a lot of public-to-privates probably reflects that the institutions prefer corporate governance through somebody who consolidates their purchasing power – us – because we can actually fire a chief executive, an institution can’t. If you only have three per cent of a company it’s bloody hard to work up the enthusiasm to fire the chief executive." For the full interview, click here. Related storyTo read the full transcript of Moulton’s resignation letter, click here.
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