EPISODE 32
Turning Around the Titanic with Sam Walsh
Duration - 58 mins
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It is 2013. Rio Tinto is struggling. It's CAPEX is $17.6 billion. The company's debt is spiralling out of control at $22 billion. Adopting a growth at all costs strategy for years before has degraded internal checks and balances on critical investment decisions and put the company under immense financial strain. It could have fallen over if things continued that way.
Sam Walsh, then the head of Rio Tinto's Iron Ore division, receives a call while vacationing in Singapore. The company is looking at him to become the next CEO. His challenge: is to find a way to turn around the company. And 3 years later, he has managed to do so. Everyone says making changes in big companies is like turning around the Titanic. Well Sam figured out a way to do just that. What was the secret to his success? It might just have been that he managed to align is team to a common goal.
In this episode, we are joined by Sam Walsh, who shares with us how he managed to turn around the Titanic at Rio Tinto.
Sam Walsh, then the head of Rio Tinto's Iron Ore division, receives a call while vacationing in Singapore. The company is looking at him to become the next CEO. His challenge: is to find a way to turn around the company. And 3 years later, he has managed to do so. Everyone says making changes in big companies is like turning around the Titanic. Well Sam figured out a way to do just that. What was the secret to his success? It might just have been that he managed to align is team to a common goal.
In this episode, we are joined by Sam Walsh, who shares with us how he managed to turn around the Titanic at Rio Tinto.
