Angela Ahrendts: from trench coats to high tech
Former CEO of Burberry, Angela Ahrendts caused a sensation when she joined Apple in 2014 as vice president of retail. She oversaw a complete transformation of Apple Stores: gone were the simple shops, replaced by elegant, minimalist spaces that are almost sacred to the brand's fans.
Under her leadership, the Apple Watch was launched as a luxury item. Angela Ahrendts introduced a new culture: customers are no longer told to leave, but invited to stay. She left Apple in 2019, having left her mark on the company.
At Burberry, where she arrived in 2006, she had already proven her ability to transform. By focusing on the brand's iconic codes and fighting against counterfeiting, she increased its value from £2bn to over £7bn.
Rosalind Brewer: from coffee to healthcare
In 2021, Rosalind Brewer left Starbucks, where she was chief operating officer, to take the helm at Walgreens Boots Alliance, a pharmaceutical distribution specialist. She became the first black woman to lead a Fortune 500 company. While remaining in the retail sector, she moved from a discretionary consumer product, Starbucks coffee, to an essential sector: healthcare. The stock fell 47% during her tenure until 2023, and her successor was unable to turn things around, with the stock falling another 64%.
Lou Gerstner: IBM's saviour
Arriving at IBM in 1993 after a stint at RJR Nabisco, Lou Gerstner took the opposite tack to the initial plan to dismantle the company's various businesses. His intuition was that unity is strength. He repositioned IBM as a large-scale software solutions integrator. He focused on volume and reduced prices to strengthen its market share.
The $13bn in losses accumulated in the two years prior to his arrival gave way to renewed profitability. In nine years, the stock rose 800%. Gerstner remains a textbook example of a successful transformation.
Ron Johnson: a genius at Apple, but disastrous for J.C. Penney
After heading up retail sales at Apple from 2000 to 2011, he attempted to repeat the feat at J.C. Penney, a low-cost clothing chain. But this time, it turned into a fiasco. Appointed CEO in 2011, he eliminated promotions, which were at the heart of the group's business model, in favor of "fair prices."
He thought consumers would welcome this rational shift with open arms, although they actually fled. Within 17 months, Ron Johnson was fired. It was a perfect example of a failed cultural transplant.
Dara Khosrowshahi: from Expedia to Uber, the transformation of a group in crisis
When Dara Khosrowshahi took the reins at Uber in 2017, the company was in turmoil: scandals, lawsuits with Waymo (Alphabet's subsidiary specializing in autonomous vehicles), and a tarnished public image due to complaints from taxi drivers. He managed to calm the storm, launched a successful IPO, and accelerated diversification, notably with Uber Eats, which was boosted by the pandemic.
Despite criticism of its slow progress toward profitability, Uber finally posted gains in 2023. Khosrowshahi did not solve all the problems, but he contributed significantly to the group's expansion.
Alan Mulally: the aircraft manufacturer who saved Ford
After serving as CEO of Boeing's commercial aircraft division from 1998 to 2006, Allan Mulally joined Ford. The car manufacturer had just announced a record loss of $12.7bn. He quickly mortgaged all of the group's assets to raise $23.5bn. It was a risky gamble, but it paid off, as this cash injection enabled Ford to almost escape the 2008 crisis unscathed.
Ford weathered the crisis without government assistance, unlike General Motors and Chrysler. By 2009, the brand was already back in the black when others were still struggling.
A fresh perspective
Choosing a leader from outside the industry is not an easy decision. It is often a risky gamble, but also a strategic move, especially when the company seems to be at a dead-end. A fresh perspective from another world can shake up entrenched routines and challenge processes that are considered immutable.
These outsiders are generally more inclined to take risks. Their legitimacy is based on a solid track record and a CV that speaks for itself, enabling them to impose change both internally and with shareholders. Above all, they are often recruited at critical moments, when half-measures are no longer an option and strong decisions are needed.
