Company: Astar CEO: Edward Bennett Area of concern: To decide succession plan for Astar

By: Group c Shalini srivastava Vaibhav kumar Ashis bharti Ravindra kumar Kaushal kant Govinda kumar

8 major characters : Edward Bennett

Current CEO of Astar Enterprises Public Face of the company Dynamic speaker Tripled companys size in last 15 years Non Executive chairman of Astar enterprises Former CEO of Puritan Bancorp Strong working relationship with Bennett

Tom Calloway

Gail Thompson

Astars veteran senior Vice President of human resources called for chalking out list of potential CEOs Astars former Vice Chairman called for chalking out list of potential CEOs member of the nominating committee worked as senior executive at Luton industries

Vincent Dalton

Fred Henderson

1.

Tom Terrell
Vice chairman, age 62 Joined Astar in 1982 Head of national operations (1995-2001) Head of acquisition integration (2001-2004) Vice chairman (2004 to present) Successfully integarted 3 acquisition integration Excellent project management skills Strong financial skills Deep knowledge of products, customers, profit drivers

Age- 48 President, Astar Products Consumer Group, North America Joined Astar in 1998 Led GDIs acquisition and integration of Phyllo foods Largely responsible for double digit growth in sales and operating profit Key contributor to Astars acquisition strategy Result oriented, strong leadership skills Sets high performance standards Needs to increase collaboration with peers Extremely competitive but can be reined in Currently working to ensure success of newly hired executives in his organisation

Age 50 Executive Vice President, Corporate Services Joined Astar in marketing communications department in 1988 Since 2000, responsible for range of functions Led a highly effective chain management effort (1998-2002) Two time finalist for investor relation societys award Exceptionally poised, articulate and effective Excellent administrative skills High quality standards Strong people management and development skills Understand the needs of customers, shareholders, employees and external groups Working to increase understanding of field operations as well as visibility in the industry

Age 42

Senior vice president sales and marketing , North America Creative marketing mind Able to operate strategicaly, and tact Able to leverage customer relation B.S., Business Administration (1986) Served as member of the Church Stone Global Marketing Committee

About Astar
Consumer products company Head quartered at Northern New Jersey The company had more than tripled in size under Bennetts past 15 year leadership Current revenue forecast was $3 billion Currently launched home cleaning and laundry care goods as well as personal hygiene and skin care product.

Contd
expanding business internationally Begun setting up regional sales and service unit around the world Established supply sources in the far east and Australia Carrying a much higher level of debt than in the past

Problem

Its several products were beginning to come under regulatory scrutiny Its untamed hair color had provoked a debate about the accuracy of its labeling Edward Bennett was whole and sole to deal with any problem Not any concrete decision for succession planning Bennett wants Tom Terrell as his successor but other board members do not agree to it.

Recommendations
Bennett should also concentrate on succession planning apart from the new strategy they are working on as no one can predict his future. Every time selecting a new successor kills time. So Tom Terrell should not be considered. Marianne Klein should be the new successor

Contd
Select Marianne Klein to be the successor as: done many researches in market, Corporate communications and Investor's relat ions She has excellent administrative skills, strong people management and development skills. she is most importantly Collaborative, works well on Cross Functional initiatives. Also She understands the needs of customers,shareholders, employees and external groups.

Contd

After the finalization of successor Astar employers should concentrate on new strategy and issue related to untamed colour. which has provoked the accuracy of labelling, and a few consumer groups had questioned the company's disposal of certain manufacturing waste.

Example:

Tata group has done their succession planning to restore the faith of its investor and employees Steve Jobs took some time off the organisation due to ill health. This alone was of great concern to investors, perhaps because they could not trust anyone else to run the organisation.

This shows the dangers of placing too much emphasis on one individual....