Turnaround : How Carlos Ghosn Rescued Nissan

From Publishers Weekly
The facts of Magee's account are quite startling. Nissan, once a darling of the automotive world, with its cheap Datsun pickups and stylish, spunky Z roadsters, had, by the 1990s, fallen on hard times. Saddled with billions in debt, the company merged with Renault in 1999, and a Renault v-p, Carlos Ghosn, was named Nissan's new CEO. Routing not only every naysayer in the auto industry, Ghosn, who was born to Lebanese parents in Brazil, also had to overcome an entrenched Japanese business culture that at that time had seemed to stress perks, seniority and relationships over the bottom line. Given complete control over the company, Ghosn slashed costs and laid off employees, as was expected, but also instituted a sweeping reorganization of the entire company, announced an ambitious slate of new vehicles and promised that if Nissan was not profitable in 2000, he and his entire managerial staff would quit. Journalist Magee lays out Ghosn's management style, his mantra of complete transparency and responsibility, and all the tiny victories that went into returning Nissan to the top ranks of automakers. His approach can be hagiographic, but this profile of an astoundingly effective CEO (one of the few who might have actually earned his large salary) is sure to inspire.Copyright 2003 Reed Business Information, Inc.

From Booklist
This the story of the dramatic comeback of Nissan under the leadership of CEO Carlos Ghosn. The ultimate international businessman, Ghosn is of Lebanese descent, born in Brazil and raised as a French citizen. He saved Renault first and then Nissan from bankruptcy by using drastic cost-cutting measures and by fully engaging the workforce from the ground up to stimulate creative innovation. In order to do so, he had to implement Western-style changes, such as plant closings and layoffs, and risk alienating a Japanese culture used to life-long job security. In 1999, Ghosn unveiled his Nissan Revival Plan and made headlines by pledging to quit if the ailing company was not profitable within one year. He proved all the doubters wrong when he announced that fiscal year 2000 was not only profitable but had posted the best financial performance in the company's history. Magee's report is a fine lesson in the adage that "there are no problems at a car company good products can't solve." David Siegfried
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Wall Street Journal
Nissan's resurgence merits study; there are few to match it

Miami Herald
interesting and instructive

Boston Globe
offers a cogent, behind-the-scenes look at Ghosn, the unlikely leader of a new generation of global business managers.

New York Times
Magee has a powerful tale to tell

Book Description

Not since the days of Lee Iacocca at Chrysler has an auto executive captured the imagination of his industry and the broader business world as Carlos Ghosn of Nissan.

Ghosn is responsible for one of the most breathtaking business turnarounds of all time -- taking the near-fatally wounded Japanese automaker Nissan from the brink of ruin back to profitability in just two years. His achievement is all the more astonishing because he did it as a Westerner operating in Japan's closed, tradition-bound business environment.

In Turnaround, business journalist David Magee presents the first behind-the-scenes look at Ghosn, his management methods, and his role as the leader of a new generation of global business managers.

A Brazilian of Lebanese descent, Ghosn has led companies to success in the United States, South America, France, and now in Japan.

Turnaround reveals how he remade Nissan by defying the business and cultural taboos that in the past have stifled the economy in Japan; how he cut costs, smashed Nissan's Keiretsu relationships, and revived the company's design innovation, quality standards, and product.

Readers in and out of the auto industry will learn the essential management techniques that have helped Ghosn achieve spectacular business results on four continents: The importance of transparency in all business dealings Planning via a cross-functional team approach Cost containment through benchmarking Breaking cross-cultural barriers among employees Sparking innovation through empowerment

FROM THE PUBLISHER

"Ghosn is responsible for one of the most breath-taking business turnarounds of all time - taking the near-fatally wounded Japanese automaker Nissan from the brink of ruin back to profitability in just two years. His achievement is all the more astonishing because he did it as a Westerner operating in Japan's closed, tradition-bound business environment." "In Turnaround, business journalist David Magee presents the first behind-the-scenes look at Ghosn, his management methods, and his role as the leader of a new generation of global business managers." Turnaround reveals how he remade Nissan by defying the business and cultural taboos that in the past have stifled the economy in Japan; how he cut costs, smashed Nissan's Keiretsu relationships, and revived the company's design innovation, quality standards, and product.

FROM THE CRITICS

Publishers Weekly

The facts of Magee's account are quite startling. Nissan, once a darling of the automotive world, with its cheap Datsun pickups and stylish, spunky Z roadsters, had, by the 1990s, fallen on hard times. Saddled with billions in debt, the company merged with Renault in 1999, and a Renault v-p, Carlos Ghosn, was named Nissan's new CEO. Routing not only every naysayer in the auto industry, Ghosn, who was born to Lebanese parents in Brazil, also had to overcome an entrenched Japanese business culture that at that time had seemed to stress perks, seniority and relationships over the bottom line. Given complete control over the company, Ghosn slashed costs and laid off employees, as was expected, but also instituted a sweeping reorganization of the entire company, announced an ambitious slate of new vehicles and promised that if Nissan was not profitable in 2000, he and his entire managerial staff would quit. Journalist Magee lays out Ghosn's management style, his mantra of complete transparency and responsibility, and all the tiny victories that went into returning Nissan to the top ranks of automakers. His approach can be hagiographic, but this profile of an astoundingly effective CEO (one of the few who might have actually earned his large salary) is sure to inspire. Agent, Elizabeth Frost Knappman. (Jan. 1) Forecast: Like Robert Slater's The Eye of the Storm: How John Chambers Steered Cisco Through an Unexpectedly Quick Recovery (Forecasts, Dec. 16, 2002), Magee's book seeks to highlight a winning CEO. Business readers might gravitate to these books, as they champion the dying breed of high-profile CEOs who are making progress in this depressed economy. Copyright 2003 Cahners Business Information.

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