After Cho’s failure to get the Orissa project up and running, Posco must look for an Indian CMD
“During his four-year association with Posco India, Cho has a very little success to talk home about. During Cho’s tenure, violence at the proposed site delayed the implementation of the Rs.510 billion plant,” states S. Pattnayak, former chief Public Relation Officer, POSCO India, who had worked closely with Cho for over two years, and isn’t very positive about the work culture of the former CMD. “Although he is a good human being, and a good communicator, he was unable to build a cordial relationship between Korean & Indian employees,” says Pattnayak.
However, it would be completely one-sided, if we were to only consider Cho’s failures. During his tenure at the helm of affairs, Cho was able to obtain the state government’s recommendation to obtain a prospecting license for Posco in the iron-rich Khandadhar reserve. This was done despite stringent opposition. Besides, the company also obtained stage-I of the forest land diversion proposal clearance from the government. “But the ground reality is that there is not a single work done on the base level. And this is because of the mere negligence of the state as well as central governments. So I do not think it is a failure of Cho, I think it is the failure of Orissa government,” avers Dillip Satapathy, Orissa bureau chief, The Business Standard.
Despite this, Cho was left with no option but to vacate the coveted seat after three years at the top due to his inability to get the Orissa project up and running. Pattnayak pin-points, “Koreans do not tolerate failure, and Cho got punished for the same.” An announcement on the new CMD would probably come in any moment. The next CMD will have to make up for the weaknesses of Cho and ensure he can balance the cultural differences smoothly. In that sense, it would not be a bad idea to have an Indian candidate at the helm to better improve the chances of success.
However, it would be completely one-sided, if we were to only consider Cho’s failures. During his tenure at the helm of affairs, Cho was able to obtain the state government’s recommendation to obtain a prospecting license for Posco in the iron-rich Khandadhar reserve. This was done despite stringent opposition. Besides, the company also obtained stage-I of the forest land diversion proposal clearance from the government. “But the ground reality is that there is not a single work done on the base level. And this is because of the mere negligence of the state as well as central governments. So I do not think it is a failure of Cho, I think it is the failure of Orissa government,” avers Dillip Satapathy, Orissa bureau chief, The Business Standard.
Despite this, Cho was left with no option but to vacate the coveted seat after three years at the top due to his inability to get the Orissa project up and running. Pattnayak pin-points, “Koreans do not tolerate failure, and Cho got punished for the same.” An announcement on the new CMD would probably come in any moment. The next CMD will have to make up for the weaknesses of Cho and ensure he can balance the cultural differences smoothly. In that sense, it would not be a bad idea to have an Indian candidate at the helm to better improve the chances of success.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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