Subject category:
Strategy and General Management
Published by:
IBS Case Development Center
Length: 8 pages
Data source: Published sources
Share a link:
https://casecent.re/p/64502
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Abstract
Philip J Purcell took over as the Chief Executive Officer (CEO) of Morgan Stanley in 1997. Dean Witter Discover & Co was merged with Morgan Stanley in the same year. Although initially the company recorded robust performance, post-2000 the performance started deteriorating and the critics accused Purcell''s strategic missteps as the reason. As a result, Purcell had to step down as the CEO of the company on 13 June 2005. But his supporters were of the opinion that his strategies would have been successful eventually and he was merely a victim of circumstances. The case helps in understanding the growth and decline in fortunes of Morgan Stanley under Purcell and the troubles the company faced during his tenure. The case also provides insight into the challenges that the new CEO would face in the future, and provides scope to discuss whether Purcell''s strategies were responsible for the decline in fortunes of Morgan Stanley.
About
Abstract
Philip J Purcell took over as the Chief Executive Officer (CEO) of Morgan Stanley in 1997. Dean Witter Discover & Co was merged with Morgan Stanley in the same year. Although initially the company recorded robust performance, post-2000 the performance started deteriorating and the critics accused Purcell''s strategic missteps as the reason. As a result, Purcell had to step down as the CEO of the company on 13 June 2005. But his supporters were of the opinion that his strategies would have been successful eventually and he was merely a victim of circumstances. The case helps in understanding the growth and decline in fortunes of Morgan Stanley under Purcell and the troubles the company faced during his tenure. The case also provides insight into the challenges that the new CEO would face in the future, and provides scope to discuss whether Purcell''s strategies were responsible for the decline in fortunes of Morgan Stanley.