Schumpeter - McKinsey s partners suffer from collective self-delusion | Business economist.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from economist.com Daily Mail and Mail on Sunday newspapers.
McKinsey has virtually become a household name, notorious for its involvement in State capture. Kevin Sneader was Global Managing Partner when the Zondo Commission heard about McKinsey’s partnership with Trillian. Trillian is owned by Gupta lieutenant, Salim Essa and is heavily implicated in corruption at Eskom. Kevin Sneader‘s management of the reputational crisis was not well received, either internally or externally, when he offered an apology to South Africans and then claimed that internal investigations had found no evidence of wrongdoing. Sneader’s blunders have come back to haunt him, as senior partners have voted to end his tenure at the helm. Justin Scheck and Vanessa Fuhrmans of The Wall Street Journal look at how unhappy senior partners made sure that Sneader won’t see a second term. – Melani Nathan
How a string of scandals forced out the boss of McKinsey
Management consultancy has acted as a “CEO farm” for decades, but is facing tough questions over its role in the US opioid crisis
25 February 2021 • 6:32pm
A management consultant is someone who asks for your watch and then tells you the time, according to an old joke at least.
Despite widespread cynicism about consultants’ value, big business has always been willing to pay for advice from McKinsey.
The prestigious firm is a CEO farm, cultivating generations of business and government leaders from Sir Charlie Mayfield, the former John Lewis chairman to Tidjane Thiam, the deposed Credit Suisse boss.
The vote to replace global managing partner Kevin Sneader after just one term shows the partnership is still struggling to adapt to evolving expectations around transparency and ethical behaviour.
No easy path ahead for McKinsey s next leader - Sacramento Business Journal bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.