1. "Sometimes you see your own children as more beautiful than they are."
Nepotism got a knock this year with an excruciating admission from long-time Econocom CEO Jean-Louis Bouchard (pictured).
He had handed the reins of his €2.8bn reseller to his son Robert Bouchard in March 2018. Yet he was promptly ousted six months later after Econocom posted a profit warning for the first six months of the year.
Bouchard senior had to abandon his golf clubs and come back to rescue the business at shareholder's behest, acknowledging that his son hired people into management who were "lacking in experience".
"I changed the management team and I made a mistake," he said.
"My mistake was [seeing] your own children as more beautiful than they are."
"[Robert] recruited applicants who were very able, capable people who were not experienced with Econocom and who didn't know the company. They came from public sector companies or from consulting, so they were lacking in experience.
"That lack of experience resulted in difficulties in decision making. And in business, if you don't make decisions well, business doesn't run well; cash doesn't improve that much and very quickly we were running the danger of having worse results than we expected and our cash wouldn't be as good as what we targeted. The combination of the two could create difficulties at the beginning of this year."
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