Thomas Ripsam named new CEO of Martin Guitar!

[alien]

Originally Posted by PaulVA

I think Zissou Intern's take is the likely scenario, Chris Martin is hanging around and will prevent any unfortunate changes of direction in strategy. I applaud his choice to remain involved, he has demonstrated keen instincts on how to preserve the Martin traditions while growing the company substantially. Note that the terminology in the press release is telling, Chris will be "Executive Chairman". The new CEO will run the day to day and implement the overall strategy, Chris apparently will have say over the strategic direction of the company. It's premature to think this change will be troublesome, Martin is still a family business and I think the new arrangement has every chance for great success.

This is how I feel. I don't think C.F. Martin and Company are in trouble at all. I truly wish the new CEO success. Remember, Chris's father nearly ran the company into the ground. Didn't CFM III come back as CEO for a short time, before Chris took over? Should the worst scenario take place and the new guy starts down that path...Well Chris will not let that happen. Of that I am certain.

[hermithollow]

Originally Posted by jimmy bookout

No different from people that love to cook thinking they can own/run a restaurant...Building ONE guitar and RUNNING Martin is the difference between throwing a bullet and shooting it. OR...the foody that goes from cooking for 3 of their friends to cooking for 200 people in one night.
I'm amazed folks don't get this.

Which is a good argument for hiring someone with business experience as CEO rather than hiring a guitar maker. As much depends on the individual and the direction they are told to take the company in, as what their background is.
Martin has always tried to expand it's market share and do whatever it needed to, to remain a viable company. Sometimes it has worked out, and sometimes it has failed, but the products at it's core have remained relatively unchanged.

[Glennwillow]

I've just reread this entire thread and found it interesting. I understand the concerns. We all wish Martin well, and we all wish the new CEO well, too.

How the new CEO will work out for Martin will depend very much on his personality and adaptability, not just on his financial background. And there is no way any of us can know how effective the new CEO will be without the benefit of time on the job.

Over more than 5 decades of working as an engineer I have seen people fall flat on their face who should have done well in a new job. I have seen people who I would not have chosen for a job do extremely well.

We're just going to have to wait and see and hope that Martin continues to do well.

- Glenn

[Pdfiddler]

Originally Posted by pagedr

Exactly what I thought when I started reading about his past experience. Really hope he proves us wrong given that it seems he is a guitar lover, but can't help but be a little concerned about this hire.

Never assume that he is not a money lover first.

[Slothead56]

Think he’s reading this thread? Nah, me neither.

[terahertz]

Originally Posted by fazool

I've been in manufacturing for over three decades. I've worked for iconic brands, including four long-lived companies that created their entire industry.

I've been through numerous mergers and acquisitions and participated in negotiating, closing and integrating several, ranging from $20M to $1.2B deals.

In this capacity I have worked with countless boards of directors and top leadership changes.

I love and admire the Martin guitar company. I think CFMIV seems to be such a good guy.

But this announcement can only be described as troubling.

Any time a finance guy is put in charge of a manufactured product (or services) company, there will be trouble. Leadership direction from someone whose core is being a bean counter not a creator of the product.

I've been around this (with well known brands) and it always starts out with a flourish and becomes a very painful situation. When the administrative support functions lead the company ut is a recipe for disaster.

Its like putting an insurance agent in charge of a hospital instead of a doctor. They just don't have the inherent understanding and it ends up where the financial systems are law and you have to design products and processes simply to meet the financial process, instead of implementing financials that support the product and processes.

The tail is wagging the dog, we say...

Agreed. Many examples like Chartered Semiconductor was lead by a CFO till it was sold off to Global Foundries....

[rstaight]

I think there is built in "first test" for the CEO. What direction is he going to take with this binding issue Martin as been experiencing?

Will he attempt to do right by the customers or say to bad it's out of warranty? Or something in between?

[TJNies]

Originally Posted by rstaight

I think there is built in "first test" for the CEO. What direction is he going to take with this binding issue Martin as been experiencing?

Will he attempt to do right by the customers or say to bad it's out of warranty? Or something in between?

Likely follow what's been done to date. Doubt they'll change course.