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Chelsea FC Under Fire for Sacking Frank Lampard

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Frank Lampard’s time as Chelsea football club head coach came to an abrupt end Monday, when the Stamford Bridge-based club announced his contract had been terminated.

Lampard, a Chelsea legend who spent 13 years with the club, scoring 211 goals from midfield to establish himself as Chelsea’s all-time leading goalscorer, became the club’s manager in 2019, amidst their struggle, with a three-year contract.

His time at the helm however, was riddled with a lot of woeful performances that got both the club’s management and fans yearning for change. Now the club says it’s time they parted ways.

“This has been a very difficult decision, and not one that the owner and the board have taken lightly. We are grateful to Frank for what he has achieved in his time as head coach of the club.

“However, recent results and performances have not met the club’s expectations, leaving the club mid-table without any clear path to sustained improvement.

“There can never be a good time to part ways with a club legend such as Frank, but after lengthy deliberation and consideration it was decided a change is needed now to give the club time to improve performances and results this season,” Chelsea said in an official statement.

Chelsea’s owner Ramon Abramovich for the first time, made a personal statement about a coach departure in the case of Lampard, describing him as a “man of integrity.”

“This was a very difficult decision for the club, not least because I have an excellent personal relationship with Frank and I have the utmost respect for him.

“He is a man of great integrity and has the highest of work ethics. However, under current circumstances we believe it is best to change managers,” he said.

The news of Lampard’s sack came shocking to many who described it as premature and had expected that he’d been given more time to build a team.

“The more I think about Frank Lampard’s sacking, the angrier it makes me feel. You won’t meet a more genuine decent bloke in world football, or anyone more deserving of being given enough time to be a success at Chelsea. Pathetic that he’s been kicked out after just 18 months,” Good Morning Britain co host, piers Morgan said.

For the 84 matches Chelsea played during his 18 months period as manager, Lampard won 44, drew 17 and lost 23 to put his win record at 52.4 percent. He also steered the club to a fourth-placed finish last season and also to FA Cup final.

With this record, many have the opinion that he should have been allowed more time to lead the team to favorable results. His iconic status in his playing days at the club enabled divided feelings about his sack among Chelsea fans.

On Sunday, a banner was raised in support of the former midfielder amidst the sack rumors. The social media has been agog about Chelsea’s decision to prematurely axe Lampard, with fans and football analysts condemning the decision.

Gary Lineker slammed Chelsea on Twitter, calling the decision “utterly ludicrous” after his first bad run. “It was always going to need time given so many new signings feeling their way into a new club. Patience being a virtue is seldom recognized in this sport. They never learn,” he said.

Chelsea has a pedigree of impatience with coaches. Since 2013 when Abramovich took over, the club has sacked 10 managers including Lampard. But some of the fans think Lampard deserves better and the decision was too hasty.

“Hearing Lampard is getting sacked is actually a disgrace, why now that he is trying to get the team to play together? Shame on Chelsea board,” an angry fan wrote.

Another one added: “I am really disgusted by the Chelsea board, none of which have done more for the club than Lampard. You don’t give him a chance to say goodbye properly as a player, you don’t give him a testimonial, shame on you.”

The decision to sack Lampard is believed to have stemmed from issues beyond losing five of his last eight Premier League matches. There was a report that his relationship with the club’s influential director, Marina Granovskaia had deteriorated over the manager’s treatment of goalkeeper, Kepa Arrizabalaga, a £72 million signing who was dropped as first choice due to his continuous errors.

It was also reported that senior players in the club, including Kepa were dissatisfied over how Lampard approached games. The dissatisfaction came from the claim that the manager always told the players to ‘go out and express themselves’ rather than take to the pitch with clear instructions or direction.

There is also the belief that the Chelsea board has ever wanted the new manager, Thomas Tuchel, who the club announced on Tuesday as Lampard’s replacement, to coach the club. Chelsea has for years touted Tuchel while he was engaged with other clubs, but were warned off. The German’s dismissal from PSG in December appeared to have presented the English club with the opportunity to secure his services.

Liverpool’s manager Jurgen klopp also said Chelsea made a “harsh” decision axing Lampard, but it’s Tuchel who has been given a present in the team.

“That was a really tough one. Chelsea did an incredible job in the transfer market this summer, brought in really good players, and things like this always need time. It’s really harsh to make a decision that early. Obviously Mr. gives you money and players but is not the most patient in the world.

“But for Thomas Tuchel it’s great. Unfortunately, he’s a really good manager. I have known him a long time and respect him a lot. This Chelsea squad is a present. I’m pretty sure Thomas sees it like that too,” Klopp said.

Lampard enjoyed £230 million market spending, which delivered a young fresh team to Chelsea. Although Tuchel has built a pleasant reputation in his managerial career, many believe the new team will ease his job at Chelsea.

Whether Chelsea made the right call or not sacking Lampard, is a question only time will answer.

Congrats Tope Awotona – Calendly Now Valued At More Than $3 Billion

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Congrats Tope Awotona, the Founder and CEO of Calendly which just raised $350 million in new funding, valuing the event scheduling startup at more than $3 billion. We use this solution and it is the best in the world.

Calendly, which helps users schedule and confirm meeting times, has raised $350 million from OpenView Venture Partners and Iconiq.

Until now, the Atlanta-based startup had only raised $550K, but the company says it has 10 million monthly users, with $70 million in subscription revenue last year.

“Calendly has a vision increasingly to be a central part of the meeting life cycle,” said OpenView’s Blake Bartlett.

It’s a platform that provides a quick way to manage open spaces in your calendar for people to book appointments with you in those spaces, which then also books out the time in calendars like Google’s or Microsoft Outlook — with a growing number of tools to enhance that experience, including the ability to pay for a service in the event that your appointment is not a business meeting but, say, a yoga class. Pricing ranges from free (one calendar/one user/one event) to premium ($8/month) and pro ($12/month) for more calendars, events, integrations and features, with bigger packages for enterprises also available

Great owambe in Atlanta coming (lol).

How you wish this story was baked in Lagos, and not Atlanta for Tope! The beauty of America continues.

A Book From Our Faculty – “CARING: The Soul of Leadership”

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WASHINGTON, DC - JANUARY 25: U.S. President Joe Biden signs an executive order related to American manufacturing in the South Court Auditorium of the White House complex on January 25, 2021 in Washington, DC. President Biden signed an executive order aimed at boosting American manufacturing and strengthening the federal government's Buy American rules. (Photo by Drew Angerer/Getty Images)

Just started reading a nice book from our leadership faculty, Dr. Ayodeji (Emmanuel) Oyebola, Ed.D. The book is titled CARING: The Soul of Leadership.

The book overview: “… As the soul is the essence of humanity, caring is the essence of leadership, and a care-less leader cannot lead. If the leader does not care, then the leader is not leading, and leadership dies at that point. Many leaders have good intentions but unconsciously neglect some aspects of their establishments. This book examines how leaders can care for their establishments to lead successful teams and achieve the desired results.”

I have got mine and I ask you to get yours here.

WASHINGTON, DC – JANUARY 25: U.S. President Joe Biden signs an executive order related to American manufacturing in the South Court Auditorium of the White House complex on January 25, 2021 in Washington, DC. President Biden signed an executive order aimed at boosting American manufacturing and strengthening the federal government’s Buy American rules. (Photo by Drew Angerer/Getty Images)

 

Read Selected Testimonials On The Impact of Tekedia Mini-MBA

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WASHINGTON, DC - JANUARY 25: U.S. President Joe Biden signs an executive order related to American manufacturing in the South Court Auditorium of the White House complex on January 25, 2021 in Washington, DC. President Biden signed an executive order aimed at boosting American manufacturing and strengthening the federal government's Buy American rules. (Photo by Drew Angerer/Getty Images)

From bank managers to CEOs, founders to directors, and beyond, this is the conclusion: Tekedia Mini-MBA is transforming careers and making companies better. Click and read some of our testimonials.

Tekedia Institute offers an innovation management 12-week program, optimized for business execution and growth, with digital operational overlay. It runs 100% online. The theme is Innovation, Growth & Digital Execution – Techniques for Building Category-King Companies. All contents are self-paced, recorded and archived which means participants do not have to be at any scheduled time to consume contents.

The next edition begins Feb 8.

Sample certificate to be issued to co-learners

 

 

Nigeria’s Lending Math – And Why Bank Loans Are High

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WASHINGTON, DC - JANUARY 25: U.S. President Joe Biden signs an executive order related to American manufacturing in the South Court Auditorium of the White House complex on January 25, 2021 in Washington, DC. President Biden signed an executive order aimed at boosting American manufacturing and strengthening the federal government's Buy American rules. (Photo by Drew Angerer/Getty Images)

Sure, some will be disappointed – now, he is supporting banks! I wrote and praised a public servant yesterday and many were disappointed. That was really strange: if we truly want to bring change, we need to be fair, and focus on the data. I am not an activist – I am an engineer; I use facts to make my calls. If you do well, I praise you. But if you do wrong, I offer my perspectives which may not matter. 

I read how people are abusing banks, on how they are frustrating SMEs in Nigeria. Before you accuse me that I am defending banks, I want to show you this table. I made it because I understand the business. I worked as a banker in Lagos!

Banks “borrow” from the Central Bank of Nigeria at 11.50% (latest number) and they have to insure that money. They have staff and operations to run. Then, they need to make profit to stay in business. By the time they are done, realistically, they should not lend below 17%!

For them to lend below 17%, it means that money is not coming from CBN, but from other sources which might be cheap (donor agencies, DFIs, etc). You may argue, what of the customers’ deposit which is “free”? There is nothing free there since if they lose your money, you will NOT take any excuse. In short, the risk has to be balanced. 

With the CBN lending-deposit-ratio where they need to lend a certain percent of the customers’ deposits to avoid fines, some banks prefer to pay the fines instead of losing your money. See it this way, a fine on N10 billion may be N50 million if the ratio is not hit. That is well better than trying to hit a ratio and lose N1 billion on a bad loan. Now, you can see why CBN fines have not drastically made your bank beg you to come and collect loans anyhow!

My point is this: for CBN to reduce that rate, inflation has to become manageable. If not, it cannot reduce the benchmark. Interestingly, there are many factors that come into play to manage that inflation and to a large extent, you need to be producing things and having a better economy.

Nigeria has a long way to go and everyone is a victim. And that is why we need to work harder. The U.S. can lend its banks at near zero-rate because its inflation is well under control. Nigeria does not have that privilege at the moment. So, we should not be abusing banks, but rather go and build our Amazons, Googles and Teslas, to strengthen the economy and make it possible to lend at 6%. Cursing and abusing bankers will not fix the rate!