Becoming a Dell Boy
There is an ongoing debate in the business community about whether people or strategy comes first. I got my first real insight into this question while working for Pepsi. In 1995 PepsiCo International lost about $500 m, on a turnover of £2 bn, and that was tough.
There were a lot of currency devaluations and write-downs that didn’t help, but the structure of our international franchise business had evolved to become fundamentally flawed and was in need of a radical restructuring. After heading up marketing for the UK, I had gone off to be managing director in Ireland and to work with the Cantrell and Cochrane bottling franchisees there.
I was now called to New York, where the head office was based, and was asked ...