It's that special season when we reflect on those titans of business who held center stage this year.
But let's not forget those folks who made an impact just by retreating (or being pushed off) to the wings.
So here is Gadfly's 2017 toast to the departed.
Travis Kalanick, Uber
Uber Technologies had weathered many scandals in its relatively short life. But by midyear, mounting legal and moral crises and a leadership drain proved too much, and Kalanick was forced to step down as chief executive.
The big question is whether, on balance, he helped Uber more than he hurt it. In part because of decisions he made as chief executive, and enabled by many others, the company faces angry regulators, an annoyed judge in a court battle with Google's corporate cousin, a workplace culture cleanup, and a fractured board and investor base. If SoftBank does buy a large slug of Uber stock, it will clarify that the company is worth less than investors believed a couple of years ago.
Yet Uber likely wouldn't have become such a force if Mr Kalanick hadn't been a "brilliant jerk," to use the words of one director. Mr Kalanick's legacy now depends on whether his successor can calm Uber's storms and prove the company is financially viable. At stake is not only the billions of dollars invested but the fate of an entire category of post-recession tech startups that were more disruptive than anything seen before -- both in good ways and sometimes destructive ways.
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Read more:
[ Uber to be treated like a regular taxi firm, rules EU court ]
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Jeff Immelt, GE
Jeff Immelt held the top post at GE for 16 long years before finally stepping down in August. According to his Harvard Business Review profile (written by himself, naturally), Mr Immelt's legacy is one of innovation, digital investment and the transformation of a General Electric portfolio that "was simply too broad and too opaque." GE's stock price tells a somewhat different story, one of poor capital allocation, a business mix that's still "too broad and too opaque" and a culture where bad news traveled slowly.
Since Me Immelt's departure, GE has been forced to admit its cash flow isn't sufficient to support a dividend he raised just last year and radically walk back earnings guidance he affirmed literally on his way out the door. Meanwhile, GE hung a for-sale sign on its stake in Baker Hughes, a GE, a legacy of Immelt's mistimed oil and gas acquisitions.
Mr Immelt did generally have the right idea on investing in software to make industrial machinery run more effectively, but his push to become the be-all-end-all digital provider for industrial companies was too grandiose. GE says his departure was planned years ahead, but there was hardly ever a company more in need of fresh eyes. Maybe it still is.
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Read more:
[ General Electric to axe 12,000 jobs in power unit ]
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Hugh Hendry, Eclectica Asset Management
Hugh Hendry's September decision to shutter his London-based Eclectica Fund after 15 years highlights the existential threat central banks pose to macro hedge funds. These have struggled for several years as quantitative easing distorts asset prices.
Investors are voting with their pocket books, with even the most storied managers suffering outflows. Paul Tudor Jones, for example, oversaw about US$7 billion of assets by the end of the third quarter, half what he managed in mid-2015.
Mr Hendry lost 3.8 perdcent in August, mostly betting on rising German bund yields. "The most distorted asset class in the world is the two-year German bond," he told Bloomberg Television on Sept. 15, the day after announcing his retirement as a hedge fund guy.
Not much has changed since. That German two-year yield ended August at -0.73 per cent; it's currently -0.67 per cent, versus a five-year average of about -0.3 per cent. With central banks still setting the price of money, the ranks of the global macro gang keep thinning.
Mickey Drexler, J. Crew
Mickey Drexler has been hailed as retail's Merchant Prince. His vision fueled Gap's 90's-era heyday. Later, he led a renaissance of J. Crew Group, presiding over the period when its bright hues, mismatched prints and sequins-as-daywear aesthetic commanded huge sales and influence.
But he stepped down this summer. Shoppers have been fleeing the chain after several years of ill-fitting garments, baffling price points and a so-so e-commerce plan.
Mr Drexler's fall shows just how much retail has changed. Trends move faster, e-commerce is booming and malls are floundering.
Mr Drexler and Jenna Lyons -- the creative director responsible for J. Crew's comeback-era look who also left this year -- are glaring examples of hubris. The pair seemed to believe Lyons could simply decide what was cool -- fancy pajamas as an outfit, anyone? -- and shoppers would follow. The rise of social media, however, means fashion springs increasingly from below rather than descending from on high. Ms Lyons and Mr Drexler missed that shift.
Having scored the top job at J. Crew after being forced out at Gap, Mr Drexler may yet rise again. But a resurgence seems unlikely: Apparel finally seems to have outgrown him.
Joe Jimenez, Novartis
Novartis chief executive Joe Jimenez accomplished plenty in eight years. He presided over $49bn in deals; the company's pharma division has mostly weathered generic competition for its former bestseller Gleevec; and a deal with University of Pennsylvania academics led to a pioneering cancer therapy.
But he also leaves a long to-do list for Vasant Narasimhan, who succeeds him in February.
The decision to spin off, sell, or keep struggling eye-care business Alcon has been postponed. Ditto deciding what to do with Novartis's $14bn stake in Roche Holding and its $10bn stake in a joint venture with GlaxoSmithKline.
There's also the need to deliver a long-promised return to sales growth. Meanwhile, price competition is rising for generic unit Sandoz, and Gilenya, Novartis's current best-seller, comes off patent in 2019.
Novartis simply needs more sales drivers -- meaning more deals. But it faces the same obstacles as its peers, especially high valuations, as companies chasing growth who should know better keep throwing good money after bad drugs and everyone crowds into the same drug classes. Meanwhile, no company seems willing to commit to fixing a fundamentally broken drug-pricing model.
John Bryant, Kellogg
John Bryant left his chief executive post at Kellogg this fall on a soggy note: The cereal giant's stock is having by far its worst year since the last recession.
America's leading packaged-food companies face an identity crisis. The very products responsible for turning them into household names no longer fill grocery carts. Away from sugary cereals, it's the aisles where fresh, less-processed and convenient foods are found that have become prime real estate, and upstart brands have seized it.
Long-time CEOs of General Mills and Mondelez International also stepped down this year. But Mr Bryant's departure speaks the loudest, perhaps because he's only 52 years old.
His successor, Steve Cahillane, who was hired from Nature's Bounty, has already turned to pricey bolt-on deals to revamp Kellogg's portfolio. Still, the company has a history of dropping the ball on brands it acquires that could have been booming, such as Kashi organic granola. Pricing pressure, intensified by Amazon.com's Whole Foods purchase, hasn't helped. It feels a bit like Mr Bryant and the board finally threw their hands up. Unless Mr Cahillane has the right growth recipe, Kellogg could wind up on someone else's shopping list.
And with that, it only remains to say (or paraphrase) that sometimes, nothing becomes a person's job quite like the manner of their leaving it. And sometimes, it's just time to go.
The specs
Engine: Dual permanently excited synchronous motors
Power: 516hp or 400Kw
Torque: 858Nm
Transmission: Single speed auto
Range: 485km
Price: From Dh699,000
World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday, February 8 v Kenya; Friday, February 9 v Canada; Sunday, February 11 v Nepal; Monday, February 12 v Oman; Wednesday, February 14 v Namibia; Thursday, February 15 final
The specs
Engine: 3.5-litre, twin-turbo V6
Transmission: 10-speed auto
Power: 410hp
Torque: 495Nm
Price: starts from Dh495,000 (Dh610,000 for the F-Sport launch edition tested)
On sale: now
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
COMPANY PROFILE
Company name: Klipit
Started: 2022
Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant
Based: Dubai, UAE
Industry: Digital receipts, finance, blockchain
Funding: $4 million
Investors: Privately/self-funded
UAE currency: the story behind the money in your pockets
UAE athletes heading to Paris 2024
Equestrian
Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).
Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).
Cycling
Safia Al Sayegh (women's road race).
Swimming
Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).
Athletics
Maryam Mohammed Al Farsi (women's 100 metres).
KEY DATES IN AMAZON'S HISTORY
July 5, 1994: Jeff Bezos founds Cadabra Inc, which would later be renamed to Amazon.com, because his lawyer misheard the name as 'cadaver'. In its earliest days, the bookstore operated out of a rented garage in Bellevue, Washington
July 16, 1995: Amazon formally opens as an online bookseller. Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought becomes the first item sold on Amazon
1997: Amazon goes public at $18 a share, which has grown about 1,000 per cent at present. Its highest closing price was $197.85 on June 27, 2024
1998: Amazon acquires IMDb, its first major acquisition. It also starts selling CDs and DVDs
2000: Amazon Marketplace opens, allowing people to sell items on the website
2002: Amazon forms what would become Amazon Web Services, opening the Amazon.com platform to all developers. The cloud unit would follow in 2006
2003: Amazon turns in an annual profit of $75 million, the first time it ended a year in the black
2005: Amazon Prime is introduced, its first-ever subscription service that offered US customers free two-day shipping for $79 a year
2006: Amazon Unbox is unveiled, the company's video service that would later morph into Amazon Instant Video and, ultimately, Amazon Video
2007: Amazon's first hardware product, the Kindle e-reader, is introduced; the Fire TV and Fire Phone would come in 2014. Grocery service Amazon Fresh is also started
2009: Amazon introduces Amazon Basics, its in-house label for a variety of products
2010: The foundations for Amazon Studios were laid. Its first original streaming content debuted in 2013
2011: The Amazon Appstore for Google's Android is launched. It is still unavailable on Apple's iOS
2014: The Amazon Echo is launched, a speaker that acts as a personal digital assistant powered by Alexa
2017: Amazon acquires Whole Foods for $13.7 billion, its biggest acquisition
2018: Amazon's market cap briefly crosses the $1 trillion mark, making it, at the time, only the third company to achieve that milestone
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
Company Profile
Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices
Kill
Director: Nikhil Nagesh Bhat
Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal
Rating: 4.5/5
Crazy Rich Asians
Director: Jon M Chu
Starring: Constance Wu, Henry Golding, Michelle Yeon, Gemma Chan
Four stars
ROUTE TO TITLE
Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2
Profile of Tamatem
Date started: March 2013
Founder: Hussam Hammo
Based: Amman, Jordan
Employees: 55
Funding: $6m
Funders: Wamda Capital, Modern Electronics (part of Al Falaisah Group) and North Base Media
The years Ramadan fell in May
Results:
6.30pm: Maiden Dh165,000 2,000m - Winner: Powderhouse, Sam Hitchcott (jockey), Doug Watson (trainer)
7.05pm: Handicap Dh165,000 2,200m - Winner: Heraldic, Richard Mullen, Satish Seemar
7.40pm: Conditions Dh240,000 1,600m - Winner: Walking Thunder, Connor Beasley, Ahmed bin Harmash
8.15pm: Handicap Dh190,000 2,000m - Winner: Key Bid, Fernando Jara, Ali Rashid Al Raihe
8.50pm: The Garhoud Sprint Listed Dh265,000 1,200m - Winner: Drafted, Sam Hitchcott, Doug Watson
9.25pm: Handicap Dh170,000 1,600m - Winner: Cachao, Tadhg O’Shea, Satish Seemar
10pm: Handicap Dh190,000 1,400m - Winner: Rodaini, Connor Beasley, Ahmed bin Harmash
SPEC SHEET: APPLE M3 MACBOOK AIR (13")
Processor: Apple M3, 8-core CPU, up to 10-core CPU, 16-core Neural Engine
Display: 13.6-inch Liquid Retina, 2560 x 1664, 224ppi, 500 nits, True Tone, wide colour
Memory: 8/16/24GB
Storage: 256/512GB / 1/2TB
I/O: Thunderbolt 3/USB-4 (2), 3.5mm audio, Touch ID
Connectivity: Wi-Fi 6E, Bluetooth 5.3
Battery: 52.6Wh lithium-polymer, up to 18 hours, MagSafe charging
Camera: 1080p FaceTime HD
Video: Support for Apple ProRes, HDR with Dolby Vision, HDR10
Audio: 4-speaker system, wide stereo, support for Dolby Atmos, Spatial Audio and dynamic head tracking (with AirPods)
Colours: Midnight, silver, space grey, starlight
In the box: MacBook Air, 30W/35W dual-port/70w power adapter, USB-C-to-MagSafe cable, 2 Apple stickers
Price: From Dh4,599
TWISTERS
Director:+Lee+Isaac+Chung
Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos
Rating:+2.5/5
UAE currency: the story behind the money in your pockets
ASIAN RUGBY CHAMPIONSHIP 2024
Results
Hong Kong 52-5 UAE
South Korea 55-5 Malaysia
Malaysia 6-70 Hong Kong
UAE 36-32 South Korea
Fixtures
Friday, June 21, 7.30pm kick-off: UAE v Malaysia
At The Sevens, Dubai (admission is free).
Saturday: Hong Kong v South Korea
The specs
Engine: Single front-axle electric motor
Power: 218hp
Torque: 330Nm
Transmission: Single-speed automatic
Max touring range: 402km (claimed)
Price: From Dh215,000 (estimate)
On sale: September
Company Profile
Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government
Common OCD symptoms and how they manifest
Checking: the obsession or thoughts focus on some harm coming from things not being as they should, which usually centre around the theme of safety. For example, the obsession is “the building will burn down”, therefore the compulsion is checking that the oven is switched off.
Contamination: the obsession is focused on the presence of germs, dirt or harmful bacteria and how this will impact the person and/or their loved ones. For example, the obsession is “the floor is dirty; me and my family will get sick and die”, the compulsion is repetitive cleaning.
Orderliness: the obsession is a fear of sitting with uncomfortable feelings, or to prevent harm coming to oneself or others. Objectively there appears to be no logical link between the obsession and compulsion. For example,” I won’t feel right if the jars aren’t lined up” or “harm will come to my family if I don’t line up all the jars”, so the compulsion is therefore lining up the jars.
Intrusive thoughts: the intrusive thought is usually highly distressing and repetitive. Common examples may include thoughts of perpetrating violence towards others, harming others, or questions over one’s character or deeds, usually in conflict with the person’s true values. An example would be: “I think I might hurt my family”, which in turn leads to the compulsion of avoiding social gatherings.
Hoarding: the intrusive thought is the overvaluing of objects or possessions, while the compulsion is stashing or hoarding these items and refusing to let them go. For example, “this newspaper may come in useful one day”, therefore, the compulsion is hoarding newspapers instead of discarding them the next day.
Source: Dr Robert Chandler, clinical psychologist at Lighthouse Arabia
UAE currency: the story behind the money in your pockets