The best examples are the executives of such companies as L’Oréal (cosmetics), Selgros (modern retail), Deichmann (footwear retail), Puratos (ingredients and products for bakery, patisserie and chocolate sectors) and Coca-Cola HBC (FMCG).
The Romanian and foreign executives have managed to grow the businesses they run on the local market or implement new products that were later replicated on other markets. Their results helped them secure promotions in the region or to more powerful markets.
Romania is actually known as a talent pool, with hundreds of local top executives ‘exported’ to every corner of the world where by run business in the range of billions of euros.
Some giant companies have even recruited dozens of managers from Romania, such as German-held retailer Lidl, which has ‘exported’ more than 50 local executives to 12 countries. A similar number of executives, ZF has found, is now in key positions in the LafargeHolcim group, a global cement manufacturer with more than 100,000 employees.
Moreover, in a time of economic and consumer spending growth, the local market has been a stage where executives, regardless of nationality, have been able to experiment and implement new projects. One such example is Gilles Antoine (50), who will take the reins of L’Oréal in South Africa, country with three times the population of Romania, market sources told ZF. L’Oréal even has manufacturing operations in South Africa, something it does not have in Romania.
L’Oréal’s revenue increased by more than 70% to almost 370 million lei (EUR79 million) last year. Although the rise in consumer spending was a factor, the bet on retail, online and the integration of the luxury production division previously operated through distributors helped, too. Gilles Antoine spent six years in Romania, which is more than a traditional three to five-year expat term.
“There aren’t any standard terms anymore, organizations are changing and becoming more flexible given the fierce fight over top executives,” says Cristina Postolache, partner with executive search company Stanton Chase.
A very good example in this regard is Alexandru Vlad, one of the longest-standing local managers, who spent 17 years running a foreign corporation. He ran Selgros Cash & Carry Romania since its arrival in 2001. He will now move on to run Selgros Germany, market sources say. Germany is Selgros’ top market. The company operates on four markets – Germany, Poland, Romania and Russia. It has 90 stores in all, 40 of which in Germany alone, and 22 in Romania, its second most important market, according to publicly available data. (EUR1=RON4.6569)
(English version by Loredana Fratila-Cristescu)