Being sacked is a painful experience. I know, it happened to me once many years ago. Every self-doubt buried away in the crevices of my consciousness exploded like a neutron device. Was it my fault? Where did it go wrong? Why me? Why not Bill down the corridor? It's a conspiracy; I've been made the scapegoat. They won't get away with it.
But before you decide to send that poison-pen letter to all of the staff, suppliers and customers, it is worth noting that if the decision has been made, there is usually no point in fighting it, or becoming bitter. Just live with it and move on. Anecdotal evidence suggests that 60 per cent of all chief executives end up getting fired. The reasons vary. In some cases it is obvious, or at least it should be.
Take the case of the chief executive of a zombie bank, which is entirely reliant on public funds to keep it afloat and pay salaries and bonuses. There are plenty of those around these days and I'd say that Donald Trump's catchphrase, "you're fired!" seems appropriate in that situation. Or take the case of Fritz Henderson, the former chief executive of General Motors (GM) who was fired last month. GM went bankrupt under his watch. It was given a federal lifeline by the Obama administration and the company's reputation suffered.
Part of the problem was that the management team under Mr Henderson had created a mindset that was hard-wired to a certain way of doing things, despite the fact that the landscape around them had changed. GM was losing about US$90 million (Dh330.5m) a day, yet the senior leadership team kept digging themselves into a deeper hole. In most cases, the reasons for senior executives hearing the words "you're fired" is that they have not delivered on the financial results agreed to with the board, and revenue has declined in core areas or brands.
Durk Jager, the former Procter & Gamble chief executive, was fired in 2000 and replaced by AG Lafley, who revived the Cincinnati giant's fortunes by making it relevant once again to customers' lives and broadening the playing field for brands such as Pampers, Crest, Tide and Gillette. Mr Lafley successfully recalibrated the Pampers brand from nappies to parenting products, opening a much wider landscape to operate in.
In other cases, executives may be fired because their personalities and leadership styles have created unhealthy cliques and meddling "kitchen cabinets". I once worked for a chief executive who had formed a fiefdom of direct reports and expected each one of us to behave like competing tribes in a continuing bid to glorify his position. He soon heard the words "you're fired" from the chairman. If you do find yourself dethroned from your lofty position, what next?
According to David Silverman, the author of Typo: The Last American Typesetter, or How I Made and Lost $4 Million, there are basically two options. "One, locate a supporter who is higher up than the person who got you fired," Silverman says. "The supporter may have their own scores to settle with the firing manager or their boss, and the uncalled-for firing of you could be just the thing they were waiting for to exact their revenge. I've seen this playing of the political trump card work more than once. The second option is to take the firing with grace, get as good a severance package as possible, and go look for a new job. It's the high road, and likely the only road."
Brian Allen, a leadership coach based in Dubai, has managed a number of exits for people whose work title begins with the word "chief". "The advised approach is to support the person through their reactions," Mr Allen says. This helps them focus and to move on as quickly as possible. Dignity and reputation should always be a priority. "Coded explanations are quickly understood and interpreted by employees, potential employees and clients. People want to know that the right thing was done when the going got tough."
Mr Allen says that most "failures" he has seen come from organisational direction changes, misalignment of strengths, relationship failures with key stakeholders and failure to deliver on objectives. Being fired, especially if everyone you know in the organisation knows about your exit and particularly if they know before you know, can affect confidence and determine what you do next. Silverman suggests there are several factors that seem consistent in those who thrive after failure, including the fact that they do not take it personally and therefore do not lose confidence in their abilities and their willingness to take opportunities, no matter how far afield from previous success.
"Think of Gordon Ramsay: he was on track to be a professional football player in Scotland when injury sidelined him. He remade himself and became one of the most famous chefs in the world," he says. "Focusing on what could have been and what others have achieved makes people small and mean. Focusing on what one can do next makes for success. And finally [failure survivors have] an acceptance that failure can happen at any time, so there should be no resting on past accomplishments."
I suppose we should wish good fortune to all those who have lost their positions and it's an apt time to quote once more the teachings of the 12th century Persian poet Omar Khayyam: "Life is short. Enjoy yourself while you can. Stop worrying". Rehan Khan is a consultant and writer based in Dubai @Email:business@thenational.ae
Dolittle
Director: Stephen Gaghan
Stars: Robert Downey Jr, Michael Sheen
One-and-a-half out of five stars
TOUCH RULES
Touch is derived from rugby league. Teams consist of up to 14 players with a maximum of six on the field at any time.
Teams can make as many substitutions as they want during the 40 minute matches.
Similar to rugby league, the attacking team has six attempts - or touches - before possession changes over.
A touch is any contact between the player with the ball and a defender, and must be with minimum force.
After a touch the player performs a “roll-ball” - similar to the play-the-ball in league - stepping over or rolling the ball between the feet.
At the roll-ball, the defenders have to retreat a minimum of five metres.
A touchdown is scored when an attacking player places the ball on or over the score-line.
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Key changes
Commission caps
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.
Moving%20Out%202
%3Cp%3E%3Cstrong%3EDeveloper%3A%3C%2Fstrong%3E%20SMG%20Studio%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Team17%3Cbr%3E%3Cstrong%3EConsoles%3A%3C%2Fstrong%3E%20Nintendo%20Switch%2C%20PlayStation%204%26amp%3B5%2C%20PC%20and%20Xbox%20One%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
SPECS
%3Cp%3E%3Cstrong%3EEngine%3C%2Fstrong%3E%3A%202-litre%20direct%20injection%20turbo%20%0D%3Cbr%3E%3Cstrong%3ETransmission%3C%2Fstrong%3E%3A%207-speed%20automatic%20%0D%3Cbr%3E%3Cstrong%3EPower%3C%2Fstrong%3E%3A%20261hp%20%0D%3Cbr%3E%3Cstrong%3ETorque%3C%2Fstrong%3E%3A%20400Nm%20%0D%3Cbr%3E%3Cstrong%3EPrice%3C%2Fstrong%3E%3A%20From%20Dh134%2C999%26nbsp%3B%3C%2Fp%3E%0A
Naga
%3Cp%3E%3Cstrong%3EDirector%3A%C2%A0%3C%2Fstrong%3EMeshal%20Al%20Jaser%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%C2%A0%3C%2Fstrong%3EAdwa%20Bader%2C%20Yazeed%20Almajyul%2C%20Khalid%20Bin%20Shaddad%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%3C%2Fp%3E%0A
Liverpool’s fixtures until end of 2019
Saturday, November 30, Brighton (h)
Wednesday, December 4, Everton (h)
Saturday, December 7, Bournemouth (a)
Tuesday, December 10, Salzburg (a) CL
Saturday, December 14, Watford (h)
Tuesday, December 17, Aston Villa (a) League Cup
Wednesday, December 18, Club World Cup in Qatar
Saturday, December 21, Club World Cup in Qatar
Thursday, December 26, Leicester (a)
Sunday, December 29, Wolves (h)
Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
ANATOMY%20OF%20A%20FALL
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EJustine%20Triet%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ESandra%20Huller%2C%20Swann%20Arlaud%2C%20Milo%20Machado-Graner%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%205%2F5%3C%2Fp%3E%0A
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Tips to avoid getting scammed
1) Beware of cheques presented late on Thursday
2) Visit an RTA centre to change registration only after receiving payment
3) Be aware of people asking to test drive the car alone
4) Try not to close the sale at night
5) Don't be rushed into a sale
6) Call 901 if you see any suspicious behaviour
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Details
Through Her Lens: The stories behind the photography of Eva Sereny
Forewords by Jacqueline Bisset and Charlotte Rampling, ACC Art Books
