Mergers, restructures and the art of giving bad news

Mergers, restructures and the art of giving bad news
It’s hard to look a room of dedicated employees dead in the eye and explain why they may not have a job with your firm soon. (Image: Getty)
Chamanthie Sinhalage-Fonseka
Twenty-five years after the doomed merger of Daimler-Benz and the Chrysler Corporation, the deal and its collapse are still the poster child for how change communication missteps in a time of flux create the kind of severe cultural misalignment that ultimately results in commercial and reputational hits. That merger remains a cautionary tale for the ages.In 1998, the US$36 billion (NZ$61b) deal that birthed a new entity, DaimlerChrysler AG, was the largest-ever foreign acquisition of a US company. The publicity of the merger was announced...

More Markets

NZ stocks end firmly as outlook brightens
Markets Market Close

NZ stocks end firmly as outlook brightens

Improved, post-results season sentiment drove NZ stocks higher.

The Warehouse Albany and Silverdale could be first in line for store revamp
Retail

The Warehouse Albany and Silverdale could be first in line for store revamp

The Warehouse’s Albany and Silverdale stores could be first in line to undergo an interior revamp, according to chief executive Mark Stirton, who gave an update to shareholders at the company’s annual meeting on Friday.The meeting covered everything from the company’s 2025 financ...

Westpac cops $3.64m penalty for lender responsibility breaches
Finance

Westpac cops $3.64m penalty for lender responsibility breaches

Credit Contracts and Consumer Finance Act in focus again.

New Talisman in trading halt
Markets

New Talisman in trading halt

New Talisman Gold Mines has been placed in a trading halt because of its financial position.The mining company requested the halt, saying the board must meet “to consider the company’s current financial position and its strategic path forward”.“The board cannot reach a conclusion...