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New B&O boss

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Simonbeo
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Simonbeo Posted: Tue, Oct 8 2019 10:06 AM

Can we hope the new boss can reverse the fortunes?

https://www.bloomberg.com/news/articles/2019-10-08/bang-olufsen-names-new-ceo-after-reporting-yet-another-loss

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vikinger
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vikinger replied on Tue, Oct 8 2019 10:33 AM

Maybe the next Beo remote will look like a Blackberry.

Graham

Puncher
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Puncher replied on Tue, Oct 8 2019 10:49 AM

Seems well qualified in failing companies!

Ban boring signatures!

Aussie Michael
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I never even saw or heard from the outgoing CEO. You always heard from Tue however.

Wish the new guy every success. It’s certainly going to be a big job.
Rob - Danish AV
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BlackBerry is thriving...Whistle

Logitech is thriving...Confused

 

this guys CV can’t be too impressive... 

joeyboygolf
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Sooner rather than later, the new CEO's brief will be "sell the assets and wind the company up".

Could this be the one.  His previous experience doesn't look too clever with no record of turning ailing companies into success stories.

Bang & Olufsen as we know it is doomed.

Regards Graham

moxxey
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moxxey replied on Tue, Oct 8 2019 11:27 AM

joeyboygolf:

Sooner rather than later, the new CEO's brief will be "sell the assets and wind the company up".

What assets? Serious question.

vikinger
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vikinger replied on Tue, Oct 8 2019 11:35 AM

moxxey:

joeyboygolf:

Sooner rather than later, the new CEO's brief will be "sell the assets and wind the company up".

What assets? Serious question.

The name...... for short and declining period. Look at the famous tailor/ clothing retailer “ Jaeger”. Went bust 2 years ago. “The Edinburgh Woollen Mill” bought the name, but no other assets.

Graham

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Hiort replied on Tue, Oct 8 2019 11:40 AM
Rob - Danish AV:

BlackBerry is thriving...

Logitech is thriving...

this guys CV can’t be too impressive...

He is Swedish.

Always something Smile

 

 

 

 

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Hiort
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Hiort replied on Tue, Oct 8 2019 11:57 AM
He just bought 56.000 shares Smile

 

 

 

 

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kuyttendaele
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Hiort:
He just bought 56.000 shares Smile

Not unusual for a CEO to do a buy-in when taking up his position. Should show the market that it's not just to fill up the CEO position and get a fat monthly paycheck.

Karel.

 

the_o_master
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Kristian Teär:
“I have followed Bang & Olufsen for many years and have always had a great passion for the company and its products. In fact, I own several of the iconic products myself. It is a unique luxury and lifestyle brand that has a special heritage...."

 

If this is true, it is at least the first + for him.

BTW: It would be interesting to know which products he already owns Whistle

Theomaster

Vintage Bang & Olufsen

moxxey
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moxxey replied on Tue, Oct 8 2019 12:30 PM

vikinger:

The name...... for short and declining period. Look at the famous tailor/ clothing retailer “ Jaeger”. Went bust 2 years ago. “The Edinburgh Woollen Mill” bought the name, but no other assets.

The name? In what context? And how much is this 'name' worth in terms of retail. A few million, but hardly an asset. Assets are internationally recognised patents, technologies and similar which are worth a lot to a potential buyer.

Duels
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Duels replied on Tue, Oct 8 2019 12:31 PM
kuyttendaele:

Not unusual for a CEO to do a buy-in when taking up his position. Should show the market that it's not just to fill up the CEO position and get a fat monthly paycheck.

Karel.

It’s almost compulsory. If you don’t own shares as CEO believing that they will go up in value why would anyone else invest.
Millemissen
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Since this ‘news’ already was posted in another thread, I’ll post my comment here as well (slightly corrected).

This was about the headlines, that people read (and that newspeople make to create attention/clicks):

 

The danish national tv wrote about it in the news.

However, they added:

Opdatering: Det har tidligere fremgået af indledningen i denne artikel, at Henrik Clausen blev fyret. Det er ændret til “udskiftet”, da en fyring ikke er bekræftet.

Which means they changed ‘sacked’ to ‘replaced’.

Whatever happened, I see this more as a sign for the investors to calm down - if it will change anything is the question....

....for things happened in the past time on the financial front the chairman Ole Andersen is the ‘architect’. 

As the head of the board he is the one, who sets the course!

But of certainly it will be interesting to hear, what the new CEO has in mind for (the future of) B&O.

 

MM

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moxxey
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moxxey replied on Tue, Oct 8 2019 2:34 PM

Millemissen:

As the head of the board he is the one, who sets the course!

No he's not. It's a board decision. And it's usually open for discussion and a vote. It's not the CEO's decision. He'll take feedback, he'll commission reports, he'll then make his evaluation and suggestion, listen to feedback on this and ultimately take a vote and then make a final decision. It's not "his" at all.

Apple is one of the few companies where you had a talisman who had a sense of autonomy, a lot of respect and mostly got it right. Most other companies do not operate like this - and I've worked for big companies. The CEO generally will respect his board and advisors.

Millemissen
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moxxey:

Millemissen:

As the head of the board he is the one, who sets the course!

No he's not. It's a board decision. And it's usually open for discussion and a vote. It's not the CEO's decision. He'll take feedback, he'll commission reports, he'll then make his evaluation and suggestion, listen to feedback on this and ultimately take a vote and then make a final decision. It's not "his" at all.

Apple is one of the few companies where you had a talisman who had a sense of autonomy, a lot of respect and mostly got it right. Most other companies do not operate like this - and I've worked for big companies. The CEO generally will respect his board and advisors.

Please (re)read what I wrote....

.....I wrote that he (the chairman of the board = Ole Andersen) is the one, who sets the course.

Of course this is not the job of a CEO - since he is hired to get things going.

 

And - please believe me - Ole Andersen is the guy in the board, who has the saying there.

 

MM

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Jaffrey2230
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If he can reduce the product line to some coherent level he can probably get the company back to profitability. B&O has some excellent hardware. Sony was in a similar situation with their business and they turned it around by focusing on a few key areas. All the best to the new CEO.

B&O products I use by zones in my home: 

Platform: Apple Home with Google Wi-fi (mesh), 100% streaming audio (Sirius XM, Apple Music, YouTube Music); TV/Office: Beolab 8002 (Red) + Beolab 2 [Sony 65A1E OLED TV, Apple TV 4K];  Living: Beoplay A9 (MK2), Bedroom: Beolab 6000 (Red) + Beolab 11 + Beosound Core [LG UST Projector, Apple TV 4K]; Beoplay M5 Dining: Apple HomePod; Portable: Beosound 1, Beoplay P6, BeoPlay H9 (3rd Gen). 

 

vikinger
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vikinger replied on Wed, Oct 9 2019 11:04 AM

Millemissen:

.....I wrote that he (the chairman of the board = Ole Andersen) is the one, who sets the course.

Of course this is not the job of a CEO - since he is hired to get things going.

And - please believe me - Ole Andersen is the guy in the board, who has the saying there.

StUrrock replied on Wed, Oct 9 2019 10:23 AM 

This article seems to know where the problem is;

https://www.bloomberg.com/news/articles/2019-10-08/a-titan-of-europe-s-luxury-hifi-scene-is-running-out-of-lives

So Andersen is the man........ responsible for success or decline??? Danske Bank?......... No connection..........

Graham

 

Neil
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Neil replied on Thu, Oct 10 2019 4:52 AM

They rarely buy in .... usually get shares on joining as part of compensation agreement.

mm08642
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mm08642 replied on Sat, Oct 19 2019 11:38 AM

Kristian Teär:
I own several of the iconic products myself.
(see https://investor.bang-olufsen.com/news-releases/news-release-details/kristian-tear-replaces-henrik-clausen-ceo-bang-olufsen/).

That gives me hope that Kristian Teär used the B&O app at least once and will kick the ass of the responsible people of the B&O app, so that they speed up to develop an app with a user experience matches the luxury-lifestyle image Bang&Olufsen try to sell. Just a decent hardware design is not enough for Bang&Olufsen to survive.
If some B&O software developers read this. Good user experience means simplification, not maximizing complexity and confusion, as the B&O App aims to do.

beolion
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beolion replied on Sat, Oct 19 2019 3:57 PM
I think it is duty of a manager of a company like B&O to experience the products in real and in daily use in order to understand the products and the customers.

If top management - and also the board - at B&O was forced to use the BS Moment from day one, I bet it would not take that long time to fix the SW issues.

It would also make the management realise the importance of software quality.

I hope the new CEO is the right person and can set the right direction. Design is not enough today although it initially is meant to captivate customers interest. Which especially the Harmony does!
Simonbeo
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Simonbeo replied on Sat, Oct 19 2019 6:05 PM

On LinkedIn B&O are advertising internships for software developers. 

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Simonbeo
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Simonbeo replied on Sat, Oct 19 2019 6:08 PM

Simonbeo:

On LinkedIn B&O are advertising internships for software developers. 

“Our 2020 spring internships programme for computer science students is now open! Join one of four different software teams developing everything from our next-generation product platforms, to cloud systems, to iOS and Android apps.”

This may be more effective than outsourcing jobs to outside companies? Not a big fan of people working free-of-charge though..

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Jeff
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Jeff replied on Sat, Oct 19 2019 7:35 PM

Not a big fan of student coders either, having once worked at a university center that convinced itself that instead of doing research it could actually develop product. What a disaster that was. The ONLY way using interns/students can even possibly produce anything is assigning them low level tasks in a rigid software development environment run by a company that knows how to do software, and B&O hasn't demonstrated even a modicum of talent at that.

Jeff

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poodleboy replied on Sat, Oct 19 2019 9:37 PM

Jeff:

Not a big fan of student coders either, having once worked at a university center that convinced itself that instead of doing research it could actually develop product. What a disaster that was. The ONLY way using interns/students can even possibly produce anything is assigning them low level tasks in a rigid software development environment run by a company that knows how to do software, and B&O hasn't demonstrated even a modicum of talent at that.

How could it be worse, especially given the price of child labour? 

Jeff
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Jeff replied on Sat, Oct 19 2019 11:30 PM

poodleboy:

Jeff:

Not a big fan of student coders either, having once worked at a university center that convinced itself that instead of doing research it could actually develop product. What a disaster that was. The ONLY way using interns/students can even possibly produce anything is assigning them low level tasks in a rigid software development environment run by a company that knows how to do software, and B&O hasn't demonstrated even a modicum of talent at that.

How could it be worse, especially given the price of child labour? 

You might think that, but based on my experiences you have no idea. Stick out tongue If engineers built buildings the way students write code the first woodpecker to come along would destroy civilization.

Jeff

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Stan
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Stan replied on Mon, Oct 21 2019 3:45 PM

Simonbeo:
This may be more effective than outsourcing jobs to outside companies? Not a big fan of people working free-of-charge though..

Does it say these are no pay jobs?  Most software development internships pay, and pay well (for an internship).  Also, under careful management, interns can definitely contribute to real products.  I did.  I was also paid well.  

This is how companies develop software competence.  Augment a competent development team with a few competent interns, and some of these interns (hopefully the best ones) come and work full time after they graduate which yields more competence.  Of course, it's also easy to poorly mange this and end up with crap.

Michael
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Michael replied on Wed, Oct 23 2019 4:15 PM
Regarding the student jobs. I’ve seen that B&O has been VERY open to student collaboration and fun for many years. It’s a part of the culture to help students and the university world get their hands on experience working with design and software.

Nothing new and not to get free work. It’s usually the other way around. Let them get a chance during studies and then hire them when they graduate.
Aussie Michael
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Michael:

Regarding the student jobs. I’ve seen that B&O has been VERY open to student collaboration and fun for many years. It’s a part of the culture to help students and the university world get their hands on experience working with design and software.

Nothing new and not to get free work. It’s usually the other way around. Let them get a chance during studies and then hire them when they graduate.

Yep. 👍🏻.

Having them collaborate and learn is different than utilising student coders as a means to develop products.

I personally think it’s great to get the view point of students but they are still getting their skills and are yet to fully understand regression testing especially with the myriad of historical b&o platforms

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