No one could say he didn’t have a long (though latterly, not glorious) innings. Loss-making Netherlands IT services ‘local hero’ Ordina has finally dispensed with the services of its colourful CEO, Ronald Kasteel. He’d been with the company for 22 years, 12 as CEO, and is to be succeeded by recently recruited (ex-BCG) Ordina board member, Stepan Breedveld.
I’ve written sporadically about Ordina, partly because I had met Kasteel when I was on the ‘dark side’ in equities research (I used to track the stock), but mainly because it is an object lesson in 'bunker mentality'. For years Kasteel refused to accept that Ordina needed to develop an offshore proposition, even as much larger European peers (and Netherlands market leaders) like Atos, Capgemini and, yes even Logica, were building Indian delivery to service the market. Not to mention the India-based players themselves, who made Netherlands a focal point for their Continental European expansion due to its affinity for the English language. I haven’t been keeping close track of Ordina of late, I have to say, and maybe they’ve seen the light (see Will Ordina finally see the light?). But anyway, it’s way too late in my opinion.
Let’s hope that Breedveld – with his 17 years' management consulting experience – can work out for himself what is the right thing to do. But just in case he can't, let me give him a clue. SELL!