Stress and the City Case Study Solution
Introduction:
Antonio Horta Osorio became the CEO of Lloyds Bank and suddenly he had to leave the job as he suffered from fatigue. This news brought the turmoil in the stock market, which led to a decline in the shares by 4.4% of Lloyds bank.
After the emergency board meeting, Lloyds’ bankgroup appointed Tim Tookey as an interim CEO. However, he effectively reported his resignation and left right on time one year from now.
Mr. Horta-Osorio, well known recognized because of his slicked-back hair and originator stubble, tricked numerous previous associates from Santander, his previous business, to Lloyds. When Mr. Horta Osoria got ill and required some days off, the bank was considered as the absence of the boss and the new management would face the severe economic crisis.
The processes of change António Horta-Osório initiated:
He was the one who was implementing his strategic vision to successfully run the bank. His visions included that deal that European Union imposed, which committed second round offer named as Project Verde, which included the sales of 632 branches, 5.5 million customers at the cost of 1.5 million pounds and 32 billion in deposits.
Along with this, at the time of Horta Osorio, he was able to achieve most of its stated objectives such as he took steps to improve the recovery of repayment government backed funds, in order to raise the funds in the global market and to strip out the non-core assets. On the other hand, the customers’ complaints also reduced about 25%.
He could not save himself from leaving Lloyds as he was advised by the doctor to take leave for medical reasons for almost six month and the news was spread in the Financial Times that the board was hiring Tim Tookey as a replacement.
Stress and the City Harvard Case Solution & Analysis
It resulted in the environmental and internal politics as well as it became a major source of stress in terms of the transformation of culture from traditional to agile way in which it could not do better. The bank was facing problems in the following things
The stress related absence of Horta-Osório from Lloyds is the most recent in a progression of shocks that have undermined the quality and reputation of what was once viewed as Britain's best-run bank. (ANDRIEŞ, 2009). It left Lloyds rudderless during an era of fierce crisis in the banking industry, with the flood waters from the euro land emergency as of now overflowing on to this present country's shores.
Along with this, it is more shocking that Mr Horta-Osório was viewed as a ray of hope after retail managing an account in Britain. It is observed that in the late months, he insisted to convey a laser-like focus to enhance customers’ benefit and guaranteeing that private companies would be treated with care and regard they merited.
As he was suffering from fatigue, the financial times reports examined that his leadership style was becoming lethargic and becoming weak since few days, as his eyes looked dull, and he was also slow in delivering speech as well as it created stress for those who were working for him................
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