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The Best and Worst CEOs of 2013

Eike Batista is not experienced as a manager in this industry but is an incredible salesman who convinced investors to put up $20 billion dollars said Finkelstein

December 14, 2013 11:50 IST | India Infoline News Service
Amazon’s Jeff Bezos has been nominated ‘Best CEO of 2013’ by Sydney Finkelstein,professor of strategy and leadership at the Tuck School of Business.Eike Batista of Brazil’s EBX/OGX/OSX was named the worst.

Going up
According to Prof. Finkelstein, Jeff Bezos stood out for his “long-term focus in an era where CEOs live in fear of missing quarterly numbers.” Described as a “cross between UPS, the NY Public Library, and a giant warehouse” Finkelstein considers Amazon a “boring business” that Bezos has made into a cool brand with low prices. “Super competitive, Bezos thrives on beating up weak players and industries and what is now a giant company is as nimble as a startup.”

“Bezos is building a huge talent pipeline via MBA hires and his recent use of the drone delivery story as a PR coop just before Cyber Monday was a stroke of genius. Jeff Bezos is the new Steve Jobs of business.”

Going down
Eike Batista, the Brazilian entrepreneur who made his fortune in gold mines, created inter-locking companies OGX/OSX to exploit oil fields off the coast of Brazil supposedly holding 10 billion barrels of recoverable oil. But Batista made over-optimistic forecasts and underestimated the difficulty and cost of extracting oil deposits from salt, sand, and rock beneath the sea.

“Eike Batista is not experienced as a manager in this industry but is an incredible salesman who convinced investors to put up $20 billion dollars,” said Finkelstein. “Ultimately, he spent more time generating interest for the project than on executing it and blamed everyone else when the OGX and OSX stock dropped 95% in 2013. He personally lost 99% of his wealth (Forbes #8 at $30 billion at the beginning of 2013).

Here are the complete lists:
Best CEOs of 2013 Worst CEOs of 2013
Jeff Bezos, Amazon Eike Batista, EBX/OGX/OSX (Brazil)
AkioToyoda, Toyota Ron Johnson, J.C. Penney
Pony Ma, Tencent (China)  Thorsten Heins, Blackberry
John Idol, Michael Kors  Eddie Lampert, Sears Holdings
Reed Hastings, Netflix Steve Ballmer, Microsoft

Professor Finkelsteinhas compiled his list of the worst CEOs for the last three years,and for the first time this year lists those who performedbest.

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