Finance: Bank of America and Tom Ryan Ken Essay

Submitted By jazee1
Words: 383
Pages: 2

CEO Exchange Video
Ken Lewis and Tom Ryan
Ken Lewis Chief executive officer of Bank of America confirms that the company has a terrific reputation for diversity. Although Ken did not obtain an MBA, he did realize very early in life that he wanted a career where he would not have to struggle and he wanted to enjoy it. Ken was asked the question “have you ever called out sick, just because?” Ken answered he would not if he didn’t have to because he truly enjoys his job of the past 37 years. In the video Ken states that an important aspect of the company is the human resources departments and what they look for is drive, good work ethic, and enthusiasm. The qualities previously mentioned will enhance the organization. Ken feels there is a bigger picture to outsourcing and it allows growth for the organization. Ken stated a key strategy for Bank of America is acquisition; Ken retired in 2009 quite possibly by making the decision of acquiring Merrill Lynch, which was not a good business acquisition, and as a result Bank of America suffered many losses in financing.
Tom Ryan the CEO of CVS quadrupled the size of the organization by acquiring Arbor Drugs, Eckred, Revco, and many more. Tom states that CVS focuses on ambition, initiative, high energy, and results to stay ahead of competitors. Tom likes to refer to CVS as a “health store” and states that although he would like to stop selling cigarettes; it is not possible to do at this time because of the revenue that those…