Why is Ralph Hamers a bad ceo?
Why is Ralph Hamers a bad ceo?
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Ralph Hamers has had a controversial tenure as CEO of ING Group. Under his leadership, he received a multimillion-euro salary, pushed through controversial restructuring proposals, and had several public clashes with shareholders and regulators. He was also accused of leading an authoritarian culture at the Dutch bank. In addition, his plans to move operations abroad have been met with staunch opposition by the Dutch government, raising political tensions. These issues caused shareholders and government leaders to question Hamers’ fitness to continue leading ING Group. In October 2020, he announced plans to step down as CEO at the end of 2021.
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Why is Ralph Hamers a bad ceo?
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Ralph Hamers has had a controversial tenure as CEO of ING, due to his leadership style, focus on short-term results, failure to engage with stakeholders, and lack of clarity around his strategic vision. He has presided over a sharp drop in the bank's share price, caused in part by poor decisions like the purchase of online banking platform Shazam. Hamers is also seen to prioritize cost cutting and profits over the interests of customers and society, as evidenced by significant downsizing and layoffs.
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