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Leadership in theAutomotive Industry
A study by Spencer Stuart’s Automotive Practice
About Spencer Stuart
Spencer Stuart is one of the world’s leading executive
search consulting firms. Privately held since 1956, Spencer
Stuart applies its extensive knowledge of industries,
functions and talent to advise select clients — ranging
from major multinationals to emerging companies to
nonprofit organizations — and address their leadership
requirements. Through 50 offices in more than 25 countries
and a broad range of practice groups, Spencer Stuart
consultants focus on senior-level executive search, board
director appointments, succession planning and in-depth
senior executive management assessments.
Spencer Stuart’s Automotive Practice helps public and
private, global and mid-sized organizations throughout
Europe, North America, Asia Pacific and Latin America
attract exceptional talent. During the past three years,
consultants in the practice have completed more than
300 senior-level executive search and board director
assignments.
Our experienced consultants offer expertise across a broad
array of functions in the following sectors:
> Automotive Parts Manufacturers: Tier One, Tier Two &
Other Suppliers
> Automotive-Related Services
> OEMs: Car, Truck & Other Vehicle Makers
> Private Equity Funds Investing in Automotive
Audibmw.info
introduction 1
automotive trends and strategic priorities 2
trends in automotive leadership 5
where are the leaders of tomorrow? 10
conclusion 13
Automotive industry executives are confronting a profoundly changing market, characterized
by increasing complexity and less room for error and inefficiency. Having the right leader in
place — one who can identify the winning path and successfully lead the organization along
that path — is more important than ever.
Against this backdrop, Spencer Stuart has launched a study exploring the personal and profes-
sional characteristics of successful automotive executives and the ways in which industry
forces are shaping the leadership needs of the future.
We surveyed 350 automotive executives globally to get their views on the primary challenges
facing the industry, companies’ strategic priorities, the competencies and experience senior
automotive leaders must possess today and in the future, and their companies’ talent
development and succession planning efforts. We also examined the backgrounds of more
than 500 senior-level automotive executives in order to identify commonalities in their educa-
tional backgrounds, personal development and careers. Finally, we interviewed chief executive
officers of original equipment manufacturers (OEMs) and leading suppliers about the forces
reshaping the industry and the leadership profile of the future.
In this study, we explore the key industry challenges and their implications for leadership and
succession planning, including:
> The ongoing globalization of the industry and the imperative to establish operations in
high-growth, low-cost regions for sourcing and to develop future markets
> The drive to establish more flexible production and cost structures
> The ongoing need to innovate, even as financial resources become more limited
> The experience required for CEOs and other senior-level automotive executives as a result of
these industry trends
> The state of talent development and succession planning in the industry
> The viability of recruiting outsiders to address talent gaps
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L e a d e r s h i p i n t h e A u t o m o t i v e I n d u s t r y
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An industry in flux: Automotive trends and strategic priorities
globalization
Hardly a new phenomenon, globalization in the automotive industry accelerated in the1980s when Japanese automakers made significant headway in penetrating the U.S.market. Today, however, the pace of globalization has intensified and global sourcing hasbecome a competitive imperative. At the same time, automotive companies see greatpotential in developing regions such as China and India as their consumer markets beginto emerge. Nearly three-quarters of the automotive executives who participated in oursurvey said the industry’s greatest challenge is the redistribution of resources to higher-growth, lower-cost regions.
Squeezed by intense competition — increasingly from new competitors in low-costcountries — as well as industry overcapacity, high labor costs in mature markets andcustomer resistance to price increases, automotive companies must establish sustainableand flexible cost structures, driving them to relocate global sourcing to “low-cost” regions,Asia, in particular. Forty-four percent of executives who participated in our survey citedlocating global sourcing to low-cost countries as a top priority for their organizations. Inaddition, as they establish optimal global manufacturing capabilities, automotive compa-nies also must refine their product development strategies to respond to the demands ofthese emerging markets.
“It is a must that companies exploit the potential for cost reductions in low-cost countries.You have to have the right strategy for that,” said Dr. Klaus Probst, chief executive officer ofGerman automotive cable and wireless company Leoni AG. It is a strategy that Leoni haspursued in earnest. Today, 27,000 of the company’s 30,000 employees work outside of itshome country. “Globalization, intense competition and pricing pressures will continue. Inthe end, cost leadership will be decisive in the supply business, even more than innovation.”
Others in our survey took a different view. They believe that, while controlling coststhrough means such as outsourcing will continue to be important, innovation will be criti-cal to successfully fending off the challenges of globalization. They see an opportunity todistinguish their companies and stave off pricing pressure by developing new must-have
“Globalization, intense competition and pricing pressures will continue. In the end, cost
leadership will be decisive in the supply business, even more than innovation.”
Dr. Klaus Probst, CEO of Leoni AG
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technologies or providing systems solutions to their OEM customers. “There is excesscapacity worldwide among the OEMs and this provides an opportunity for us to supplynew technology,” said Daniele Pecchini, CEO of Comau. “The new investments made byOEMs are related to existing plants rather than ‘green field’ projects. Moreover, in ourindustrial segment, we are experiencing the same phenomenon that automotive compo-nents suppliers did before: the purchasing mechanism is prevailing over technicalchoices.” Added David Rayburn, president and CEO of Modine Manufacturing Company:“Competitors in the automotive industry have to succeed through technology. We areworking on long-term technology initiatives with customers and consistently working topush technology to gain a competitive edge.”
innovation with limited financial resources
Automotive companies face another dilemma: how to maintain innovation when financing is tight. The need to develop new technologies and innovative products able tolure consumers and provide a competitive edge has never been more important formaintaining profitability over the long term. Car buyers are looking for new features suchas navigation tools, in-car telematics, entertainment options and safety improvements, butresist paying premiums for these advancements. Yet, given the cost and pricing pressures,automotive companies are finding it difficult to free internal financial resources for investment in research and development. At the same time, securing external fundingalso is more challenging as the industry has become less attractive for investors comparedto other sectors, particularly in the short term. Nearly half of survey respondents cited theneed to innovate with limited financial resources as one of the automotive industry’sgreatest challenges.
“Private equity funds have played an increasingly important role versus industrialpartners; they have been willing to accept a longer time for return on investment thanstock markets,” said Sarna CEO Matti Paasila. “Generally speaking, though, as financialresources are short for financing R&D projects, and customers want innovation but arenot ready to pay for it, we need more project managers and engineers with good financialcompetencies.”
With financing tighter, automotive companies must pursue creative product solutions,leverage their internal strengths and, more often, make acquisitions and cement partner-ships with companies that can help enhance and expand product offerings and spreadinvestments over more units.
“Overall, it is always a question of pursuing competitiveness, in terms of pricing, newtechnologies and design; the latter is key especially for OEMs because cars must be attrac-tive to sell,” said Emanuele Bosio, CEO of Sogefi, a producer of automotive filters andsuspension components. “The partnership philosophy along the supply chain is critical,
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and a challenge to change in certain situations.” Automotive companies also must belooking continually for new opportunities in the market. “Every four to five years, youneed to move on, either by making acquisitions or finding new market niches, otherwiseyour profitability drops. This is a challenge,” he added.
Over time, these challenges may be a force for improving supplier-OEM relationships,according to Marco von Maltzan, CEO and chairman of BERU Aktiengesellschaft. “Themove to Asia will continue, as will the consolidation among suppliers. To keep up thenecessary speed of innovation is very expensive and many smaller suppliers cannot do it,”he said. “Stronger ties between the OEMs and their suppliers will come, together withlonger term cooperation, higher transparency and profit sharing.”
flexible production and cost structure
In response to the forces of globalization, competition and pricing constraints, a key priority for nearly half of the automotive companies we surveyed is establishing andmaintaining a more variable cost structure. Another strategic priority, cited by more than40 percent of respondents, is maintaining a flexible production system to position thecompany to respond quickly to shifts in global demand.
“My perspective is that of a machinery and equipment supplier; the main challenge forsuppliers remains achieving a cost structure that assures the company’s survival, as themargins have continuously eroded,” Pecchini said.
Automotive leaders must be able to manage cash and make costs more variable in order toadjust quickly to volatility in demand and respond to new opportunities. They do thisthrough outsourcing, partnerships, technology innovation and new production methods.
“Consumers are more and more demanding, looking for everything at a very attractiveprice. You have to master revenues and costs very carefully to make a profit,” saidBernhard Mattes, CEO of Ford Germany. “You have to be aware that the classic segmenta-tion is gone. The old focus on product and the subsequent platform organization is nolonger valid; today, it is much more complex and production must be very flexible.”
The drive to cut costs and make expenses more variable also has profound implicationsfor partner relationships. Automakers have taken equity stakes in each other and forgedjoint ventures and technology agreements. Suppliers are aligning themselves with newplayers amid shifts in the relative market share of automotive companies.
“In this environment of higher commodity costs, many companies are struggling to passthrough these expenses, despite guarantees in supplier contracts. This causes strains inthe partnerships between suppliers and OEMs,” Rayburn said. “As a result, Modine has
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become more selective in our growth strategy and is prioritizing OEM relationships. Wealso are increasing our diversification efforts and accelerating sales growth outside of thelight vehicle automotive market.”
most significant industry challenges*
* Respondents ranked the top three challenges.
top strategic priorities for automotive companies*
* Respondents ranked the top three strategic priorities.
Trends in automotive leadership
With so much change in the industry, what are the skills automotive leaders must possessto successfully guide their companies today and in the future, and from where will thenext generation of leadership come?
L e a d e r s h i p i n t h e A u t o m o t i v e I n d u s t r y
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Through discussions with CEOs, our survey of automotive executives and our own workwith automotive clients, we have identified a number of critical competencies and areas ofexperience required by senior-level automotive leadership. CEOs and other top executivesmust have partner management experience, strong operational experience and capabili-ties, a strategic orientation, financial acumen, a global perspective and exceptional peoplemanagement skills.
alliance and partner management experience
One-third of respondents said alliance and partner management is the most importantfunctional experience for general management, the highest of all the experience categories. Automakers increasingly are relying on strategic alliances and partnerships to managecomponent costs and the development of new platforms and technologies.
To ensure that their organizations strike beneficial alliances and partnerships, automotiveleaders must be highly knowledgeable about the industry and its complex networks,understand the forces that are driving industry change and have a strategic mindset.Finally, as automotive companies are likely to build alliances with companies anywhere inthe world, executives must be sensitive to the cultural differences that can foster mistrust,said Dr. Juergen Behrend, chairman and managing associate of Hella KGaA Hueck & Co.“Especially in Asia, you have to be authentic and credible and keep your promises. Youhave to try to achieve win-win situations as often as you can. In each culture, you mustlearn the symbolism that builds trust,” he said.
operations experience and results orientation
While experience in all corporate functions is valuable to senior automotive executives,operational experience is essential in light of the challenges and opportunities facing theindustry, our survey found. Roles in operations, manufacturing and quality assuranceprovide exposure to a broad cross-section of the company and the opportunity to lead largeand diverse teams. These roles also are great training grounds for future senior leaders asCEOs are spending more of their time on operational issues, particularly as many of theprime targets for cost reduction are in the operations side of the business.
“Not only are most of the cost reduction issues facing automotive companies driven byoperating issues, but working in operations also is the place where one learns the mostabout leadership, given the large numbers of people involved and the closeness of thecontact with people who are working on day-to-day issues and who are fundamentally
“Competitors in the automotive industry have to succeed through technology. We are working
on long-term technology initiatives with customers and consistently working to push technology to
gain a competitive edge.”
David Rayburn, president and CEO of Modine Manufacturing Company
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running the company,” said Rodney O’Neal, president and chief operating officer ofDelphi Corporation.
For Tenneco CEO Mark P. Frissora, operational experience surpasses in importance eventhe leadership qualities associated with “best athlete” executives. “I used to think that anathlete was an athlete, but increasingly I have come to the point of view that hands-onoperations experience is essential,” he said. In interviewing candidates, Frissora said he asksvery detailed questions about how individuals have used lean manufacturing strategies andasks them to describe in detail their product development process. He probes deeply tounderstand if they have really driven the process or simply have overseen it from a high level.
strategic orientation and innovation leadership
Automotive companies must continually reinvent themselves to take advantage of newmarket opportunities and maintain long-term profitability. The CEO needs to be able torecognize those opportunities and drive innovation in the company. Automotive leadersmust have a passion for challenges, seek innovative ideas within the organization andexternally, and be willing to make bold moves.
“I don’t know if it is true more today than in the past, but, certainly, automotive compa-nies need a CEO with vision, capable of anticipating the business cycles and managingthrough continuous reorganization. The CEO needs to be one who squeezes the coststructures, constantly challenges the internal structures to find better ways, keeps thepressure high and stimulates the organization to move — even physically,” Bosio said.
Automotive leaders must possess the skills of an entrepreneur, according to Behrend.“Entrepreneurial skills are essential,” he said. Automotive CEOs must have the ability toidentify solutions for issues related to organizing processes, pulling together the rightteam, creating value and ensuring that everyone in the company strives toward excellenceand reliability. “Those are the critical skills I would seek in a leader,” he said.
Automotive executives need a strong industry knowledge base gained from “growing up”in this complex and rapidly changing industry, according to John MacKenzie, managingdirector of Pacifica Group Ltd. They also must have the ability to conceive and develop thestrategic direction for the company, while also managing the critical day-to-day details.
finance and capital allocation
The challenges of streamlining costs while maintaining R&D investment require thatautomotive executives be financially astute. They must lead efforts to variabilize costs, bethoughtful about capital spending and free up resources that do not provide competitiveadvantage. Twelve percent of survey participants ranked finance and capital allocation asthe most important functional experience for senior general management during the nextfive years.
“Cash management is a critical skill,” Frissora said. “A strong balance sheet is importantfor funding investments in new technology. Companies also must be able to variabilizetheir cost structure through outsourcing and new production methods.”
international experience and a global perspective
Automotive leaders must have a truly global perspective and be culturally and intellectuallyflexible. More than one-third of survey respondents cited global perspective as a criticalcompetency for automotive leaders. This includes being sensitive to cultural differencesand having a keen ability to identify and leverage international opportunities. Executiveswe interviewed frequently told us that they would have liked to have had more interna-tional experience. Others were grateful for the international exposure they received early intheir careers.
“Tomorrow’s automotive leaders must have a global footprint from a manufacturing stand-point, and also must have global product development abilities as well,” Rayburn said.
While many of the executives we interviewed said living abroad and serving in long-termoverseas assignments are the best ways to gain international experience and a globalperspective, Pecchini said international knowledge and sensitivity can be cultivated evenwithout living abroad. “It doesn’t matter if one has actually been a resident for years in acountry or not; you may stay two to three years in a different country without developing a real global vision, because today we need to interface with many cultures and severaldifferent countries. I have always managed the business in every part of the world, traveling extensively. Even though I always returned home, I have accrued a deep under-standing of different markets and different cultures,” Pecchini said.
team-leading skills, people development experience
Another recurring theme that emerged from our interviews and survey is the importanceof strong team-building and effective people development skills. These include exceptionalcommunication and interpersonal capabilities, internal networking skills, people manage-ment and team leadership experience, and the ability to choose the right team and get themaximum from it. Senior automotive leaders should combine personal authority with ahumble and credible approach, our survey and interviews revealed.
“It is important for automotive leaders to continually motivate the organization to not reston its laurels and to continue to work toward stretch targets,” von Maltzan of BERU
L e a d e r s h i p i n t h e A u t o m o t i v e I n d u s t r y
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“You have to be authentic and credible and keep your promises. You have to try to achieve
win-win situations as often as you can. In each culture, you must learn the symbolism that
builds trust.”
Juergen Behrend, chairman and managing associate of Hella KGaA Hueck & Co.
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Aktiengesellschaft said. Of his own leadership style, von Maltzan said he makes it a prior-ity to recruit and develop young talent, delegate authority and responsibility, give as muchroom as possible to good people and tolerate mistakes as long as they are not made twice.
“People management and team leadership are first and foremost, and then businessacumen, of course. But, more and more important is the capability to understand culturaldifferences. The world is our market today,” said Mattes, of Ford Germany.
Credibility and influencing skills also are essential when dealing with external audiences.“The most effective leaders are those with balanced egos who are able to talk about theirfailures as well as their successes,” Rayburn said. “They are able to talk to the investmentcommunity with candor, blending details about what they do right with areas in whichthey need to improve.”
most important characteristics for future automotive leaders*
* Top five responses. Respondents chose more than one.
most important business experience for future automotive leaders*
* Top five responses. Respondents chose more than one.
most important functional experience for automotive leaders*
* Top five responses.
Where are the leaders of tomorrow?
In addition to identifying the likely profile of future automotive CEOs and other senior-level leaders, we also wanted to know from where future leaders with these skills, experi-ence and characteristics are likely to come. We asked survey participants about theircompanies’ internal succession planning programs as well as the willingness of theirorganizations to recruit executives from outside the industry.
looking outside the industry
First, hiring new talent seems to be a fairly low priority for the industry at this time. Just15 percent of the executives we surveyed indicated that “attracting top talent” was one oftheir company’s top three strategic priorities. However, when they do hire external candi-dates, the majority, 55 percent, said their organizations recruit within the automotiveindustry, yet only 16 percent said they predominately hire from within their own sector.Another 20 percent hire candidates with manufacturing and industrial backgrounds.About 3 percent look to the consumer goods and services sector.
Interestingly, while automotive companies are not doing so in large numbers now, three-quarters of respondents believe it will be important for automotive companies to recruitfrom outside the industry, although not necessarily for positions at the highest levels ofthe organization. Top talent from other industries can help by injecting new and creativeideas that can break the traditionally insular industry out of old patterns, improve thetalent pool and supply specialized knowledge in areas such as supply chain management,marketing, turnarounds, change management and electronics, automotive leaders told us.
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“I used to think that an athlete was an athlete, but increasingly I have come to the point of view
that hands-on operations experience is essential.”
Mark P. Frissora, CEO of Tenneco
Paasila points to his experience as a young manager at Nokia in different countries duringthe early stages of a fast-growing industry as the kind of development experience that isvaluable to the automotive industry. “In five years, I went from software engineer to salesmanager to export manager to general manager of the German subsidiary,” he said. “Thelesson here is that young talent should start their career in very dynamic, fast-growingindustries, and automotive companies would benefit by recruiting more executives fromthese types of industries.”
Bosio agreed that recruiting executives from outside the automotive industry can infusenew ideas and provide a fresh perspective. “I don’t believe my successor must come fromthe automotive industry, although some experience here will help for sure. I would likesomeone who brings a different perspective,” he said. “Those who have been in the sameindustry for too long — or, worse, in the same company — become used to that standardand have trouble seeing a different or higher standard. Obviously, I wouldn’t bring insomeone who made pet food; there has to be some technology relevance, such as whitegoods, for example.”
Although they acknowledged exceptions, others were less confident that an executive fromoutside the industry would be successful as CEO because of the industry’s complexity andthe importance of building industry relationships.
“It takes time to develop the relational network in the auto industry, which is a keyelement for success,” said Heinz Pfannschmidt, president of Europe and South Americafor Visteon Corporation. Rather than recruiting a CEO or other very senior executivesfrom outside the industry, automotive companies would be better off bringing in thattalent several levels below the CEO to give the individual the time to learn the industryand forge relationships, he said.
“It’s important that future CEOs know the auto industry,” MacKenzie said. “It’s toocomplex and dynamic for someone to learn it quickly and be successful.”
succession planning
Are automotive companies developing the leaders they will need for the future? Oursurvey findings indicate that most companies are doing some succession planning andtalent development, but the commitment to and quality of these programs vary.
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“Stronger ties between the OEMs and their suppliers will come, together with longer term
cooperation, higher transparency and profit sharing.”
Marco von Maltzan, CEO and chairman of BERU Aktiengesellschaft
More than half of the respondents said their company does an average job of successionplanning and talent development, while 17 percent felt that their organization’s talentdevelopment and succession planning programs meet or exceed best-in-class standards.
However, many of our respondents found room for improvement in their company’ssuccession planning efforts. Nearly one-quarter of executives participating in the surveyrated their company’s efforts in this area as below average, and 7 percent said theircompany does no succession planning.
The succession planning and talent development programs that were viewed as most
effective were those that included the following elements:
> Clear, well-managed and systematic processes
> Executed widely throughout the company
> Closely tied to company strategy
> Results measured and leaders held accountable
> Viewed as an important strategic initiative for the company
> Attention to identifying and developing the skills of future leaders
Delphi’s O’Neal said instituting initiatives that continually challenge individuals to grow isthe key to talent development. As he said, “In challenging situations, the talent is obvious.”
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Conclusion
The automotive industry is dramatically more complex, more global and more intercon-nected through alliances and partnerships today than just five years ago. Our conversa-tions with automotive leaders about the industry’s challenges, opportunities and futureleadership needs produced the following observations:
> While automotive executives recognize the challenges posed by globalization andovercapacity, many companies are struggling to adequately respond. Automakersand suppliers continue to look for opportunities to streamline production andimpose flexible cost structures that allow them to respond quickly to shifts indemands. Automotive leaders must possess strong operational experience andfinancial acumen to be in the position to identify these opportunities.
> Automotive consumers have become ever more demanding, looking for newservices and technologies, but they are not willing to pay a premium for theseadvances. In addition, automakers must produce vehicles to address the needs ofemerging markets. These developments require automotive companies to focuson innovation, yet they must do this in an environment where financing isscarce. Automotive CEOs must be astute financial managers and the primarydrivers of innovation in their companies. They also must ensure that technological innovation, which absorbs enormous financial resources, actuallywill be perceived by the end users.
> Many automotive executives believe the industry could benefit by bringing in newtalent from other industries, leaders with vision and the ability to anticipatebusiness cycles and challenge internal structures to find more effective processes.However, because of the industry’s complexity and dependence on relationships,most believe leaders from the outside would be better positioned to succeed ifthey were brought in one or more levels under the CEO and given time to learnthe industry.
> Today’s automotive executives should ensure that their organizations have theleadership they need for the future by identifying areas ripe for improvement intheir succession planning and talent development efforts. These programs aremost effective when they have the support of the highest levels of managementand the board, and are closely linked to company strategy and executed widelyacross the organization. They should include clear, well-managed and systematicprocesses, including processes for measuring results and holding managersaccountable for success.
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About the survey
We surveyed 352 automotive executives globally representing original equipment manufacturers,
suppliers and other companies in the automotive industry. Participants included CEOs, executive
vice presidents and other senior-level automotive leaders. Below are additional details about the
survey participants.
participants by company type
* Includes other OEMs, finance, aftermarket and companies active in multiple categories
participants by company size
participants by location
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About the authors
simone maggioni
Simone leads Spencer
Stuart’s Industrial Practice in
Europe and co-leads the
firm’s global Automotive
Practice. Prior to joining
Spencer Stuart, Simone was
a partner in a Detroit-based consulting firm
that specialized in developing business in the
U.S. market for medium-sized European
companies, particularly in the automotive
industry. He began his career in 1989 at
Bocconi University of Milan, where he
pioneered the research field of the economic
transition of a centrally planned economy to a
market economy.
steven rivard
A consultant in Spencer
Stuart’s Dallas office, Steve is
a member of the firm’s
Industrial Practice, specializ-
ing in automotive, process
and general industry. Prior to
joining Spencer Stuart, Steve was a principal
with another leading international executive
search and management consulting firm,
where he served as the U.S. leader of the
firm’s automotive and industrial practices.
Before entering the search profession, Steve
held several positions in Eaton Corporation’s
automotive components group, ultimately
leading the division’s strategic planning and
growth initiatives.
reinhold h. thiele
Reinhold is a member of the
firm’s Industrial Practice and
has more than 20 years of
management consulting and
executive search experience.
He concentrates on search
work within the industrial sector. Prior to
joining the firm, Reinhold was a consultant
for another international search firm, where
he was an elected member of the executive
committee and led the global industrial
practice. Before that, he worked for Arthur D.
Little International, working with automotive
and manufacturing clients. He worked part-
time for The Ford Motor Company in
Dagenham, England, during his university
studies.
h. alvan turner
Alvan co-leads Spencer
Stuart’s Automotive Practice
and is a member of the
firm’s Industrial Practice. His
clients include a diverse
range of multinational
manufacturers and distributors of automotive
and industrial products, and companies
dealing with significant manufacturing, logis-
tics, purchasing and distribution issues. His
searches primarily are for board directors,
C-level executives and division presidents.
Prior to joining Spencer Stuart, Alvan spent 15
years with McKinsey & Company, where he
served industrial and consumer durables
clients on strategy, operations, sourcing and
supply chain issues.
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