Yahoo! Finance


Companies More Willing To Make Changes At The Top

Monday June 9 2008, 5:09 pm ET

LAWRENCEVILLE, N.J.--(BUSINESS WIRE)--Unlike immediately after 9/11, companies are more willing to make top management changes now, even in light of an uncertain economy, say a majority of more than 160 senior executives responding to a poll by Michael D. Zinn & Associates, an executive search firm specializing in the recruitment of senior level corporate executives.

"This indicates that companies are not yet in a survival mode," says Michael Zinn, president of the firm bearing his name. "They believe that with the right leadership in place, they can still improve their standing within their industry and markets."

People at the top make a difference in corporate performance. "By putting the right people in place, an organization can differentiate itself and improve its market position," adds Zinn. "For example, companies should now be looking for people who can focus on productivity with an eye towards improving the bottom line. This is especially important because of a limited ability, in general, to increase prices to grow revenue."

Though the economy in the U.S. is being hit with high prices for food and energy, and a stubborn credit crisis that is having a negative impact, more than half of the respondents polled are upbeat and positive about the need of their organization to continue to move forward. "They are not waiting for the uncertainties in the economy to settle down prior to making major moves at the upper levels of their organizations," concludes Zinn.

Founded in 1988, Michael D. Zinn & Associates conducts specialized searches for senior executives, including: chief executive officers, chief operating officers, chief marketing officers, chief technology officers, and chief financial officers, as well as their direct reports and staff. The organization's clientele primarily comes from Global 2000 companies, as well as mid-cap, small cap, and the portfolio companies funded by private equity and venture capital organizations.


Source: Michael D. Zinn & Associates