Forum Archive Index - April 2002

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi Malcolm,
 
>
>
>Snoopy testing my memory I thought the original decision 
>to go into AAPT was made by or under doctor Deane. 
>
>


Yes it was, as my diary of events shows


>
>
>IT looks like Ms Gattung
> will actually wear the Blame. THANKS
> 


 
The increase in shareholding in AAPT from 20% to 80%, happened within 
weeks of Theresa Gattung taking the helm at Telecom NZ.   I suspect 
that it would have taken a monumental person to reverse the 
steamroller that was already chugging along that acquisition trail.   

Presumably part of the reason Gattung was appointed was that she 
shared the vision of the way to go forward with Deane and the board.  
So I think it it fairly unlikely she would have reversed any 'acquire 
AAPT' decision.   

But Gattung was young when she took over the reins of Telecom, and a 
woman.  Already reeling at these qualities, the grey suited 
institutional shareholders would have gone ballistic if she had tried 
anything radical.  Best to dispel any nagging doubt and keep the 
course that Deane had set, particularly when he was now looking over 
her shoulder as Chairman of the Board!  Gattung came at the AAPT
acquisition from a customer focussed rather than a cost accounting 
perspective.  Perhaps she would have taken some stronger accounting 
advice on what would happen to the accounts if the customer focussed 
business plan did not pan out according to plan?   If you have to 
point to any mistake she made before jumping into AAPT then that was 
it.   She couldn't have stopped the purchase but she might have been 
able to put the brakes on while more 'what if' scenarios were 
explored.

Yes, Theresa Gattung will wear any blame.   But if you are looking 
for who is really at fault should AAPT really go sour, any real blame 
must rest firmly on the shoulders of Dr Deane IMHO.  If management 
malcontent boils over, Gattung will get the push, Deane will 
step in as interim CEO until a suitable replacement is found 
and he will be hailed as a hero for sorting out the mess, then 
retire into the sunset.  Ironic, considering if anyone can be 
blamed for he causing all the problems, it was Dr Deane!  

SNOOPY 


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