On philosophers and profits

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A self-proclaimed “hobby philosopher”, Jochen Zeitz’s latest obsession is the philosophy of psychologists. The chief executive of Puma is reading Schopenhauer, having hoovered up Kant, Freud and Jung. It was his interest in philosophy that prompted Mr Zeitz, a protestant by birth, to collaborate with Anselm Grün, a Benedictine monk, on the book Prayer, Profit and Principles – Monk and Manager: a Discourse, which was published last year.
The reason? “We have to think holistically,” he says. “Everything is interconnected. The moment you take philosophy, psychology, religion and business and look at the underlying commonalities, that’s when you start looking at business in a different way.”
EDITOR’S CHOICE
Puma releases ‘true’ carbon emission cost - May-17Puma warns of �115m potential writeoff - Oct-26PPR to set financing for �1.5bn auction - Oct-20Puma chief to head new PPR division - Oct-18Puma extends sponsorship deal with Bolt - Aug-24Puma gives the boot to cardboard shoeboxes - Apr-13While business is stimulating, he says it is not intellectually taxing. “Situations in business are very challenging but [if you follow] certain formulas, have toolkits and a certain personality, you can be successful. It’s [not] quantum physics.”
Indeed, business was not Mr Zeitz’s first choice of career. Born to a medical family in Mannheim, south-west Germany, he believed his professional destiny was to become a doctor. “I always wanted to be a medical doctor and I never thought of business,” he admits. He attended medical school before dabbling in economics courses and deciding to switch to commerce.
Despite his former medical ambitions and his interest in philosophy, Mr Zeitz nonetheless seems very much the businessman in both appearance and demeanour. Tall, tanned and smooth in an Ozwald Boateng suit, open-necked shirt and smart Puma black shoes(in china,nike shoes price is evry low,and so is nike dunk.), he exudes confidence and remains unflustered despite arriving late for the interview in the company’s London office. He had been stuck in the US embassy trying to renew his visa.
Travel dominates the 48-year-old’s life. Mr Zeitz, who holds a pilot’s licence and speaks six languages including Swahili – which he taught himself listening to CDs in the car – is on the road for about 10 months of the year. “I’m a virtual worker. I’m not tied to an office,” he says.
In his other role as chief sustainability officer at PPR, the French luxury and retail group that is Puma’s majority shareholder, and where he will move this summer to head its sport and lifestyle business, he is based in the group’s lounge because he does not have an office.
In another contrast with his penchant for philosophy, Mr Zeitz seems untrammelled by self-doubt. Asked if he enjoys all the travelling, he replies: “I wouldn’t do it if I didn’t.” And how does he feel about his move to PPR? “Very good, otherwise I wouldn’t be doing it.”
In this mode he is the personification of a corporate machine, which is something of a disappointment after his diversion into philosophy. Moreover, an industry observer had suggested that Mr Zeitz had mellowed – that having proved himself he is more relaxed and less guarded. Is there any truth in the analysis? Mr Zeitz paraphrases Nietzsche: “Truth?.?.?.?what is truth??.?.?.?It’s a question of interpretation.”
It is an elusive answer; his guard is still up. Finally after much cajoling, he concedes he has changed. Now he always tries to be positive: “I’ve tried to slow down [and enjoy success] rather than attack the next challenge or dwell on the negative.”
Given last year’s business book about prayer, is he religious? “I will tell you on the last day of my life.” Why not today? “I believe in metaphysics. I don’t believe in God because I think that is a human simplification of the things we can’t explain. But I believe in a greater universe.”
Perhaps he can afford to relax. When Mr Zeitz took the helm in 1993, aged only 30, he was the youngest boss of a listed European company and was savaged by a German press steeped in a conservative business culture. Puma, which was founded by Rudolf Dassler in 1948 – his brother Adi founded Adidas and both businesses are based in the Bavarian town of Herzogenaurach – was on the brink of bankruptcy. It was some distance from its past glory when the brand adorned the feet of Brazilian football legend Pelé.
The CV
●Born: April 6 1963, Mannheim, Germany
●Education: European Business School
●Career:1986 Colgate-Palmolive in New York and Hamburg 1990 Joined Puma as marketing manager1993 Appointed chief executive of Puma2007 Following PPR’s purchase of a majority stake in Puma, Mr Zeitz joins the French luxury group’s boardSummer 2011 Mr Zeitz due to step down as chief executive of Puma and will head the sportswear and lifestyle division of PPR
●Interests: Philosophy, running marathons and flying
Even back then, self-doubt never afflicted him. “It was incredibly exciting, even if the early days were very difficult because we had to restructure the company.” Restructuring, of course, meant job losses – 50 per cent of the German workforce was cut as manufacturing operations were redeployed to Asia and bureaucracy was slashed. He denies his youthful self-belief was arrogance. “I’m just confident?.?.?.?I like challenges,” he says. “If I had been born 150 years ago, I would have become an explorer. I enjoy dealing with uncertainty. I didn’t look at the risk [or] the problems. I just saw opportunity.” Within a year he had returned Puma to profit.
He deployed Soviet-style five-year plans. “If you have a strategy, it needs to be long-term rather than driven by your next quarter or 12 months. Three years [isn’t] enough,超声波物位计, 10 years is far too long; so five years was a comfortable amount.” Subsequent five-year plans saw huge investment in marketing and new ranges, allying the sportswear brand with the creativity of fashion designers Alexander McQueen and Hussein Chalayan, transforming Puma from sportswear to leisurewear. This year’s first-quarter results were buoyant, with sales growing 9.3 per cent on the same period a year ago to �773m. The company hopes to achieve revenues of �3bn for the full year.
Mr Zeitz has a reputation for being a micromanager, having a hand in every area of the business from finance to marketing. For the first 11 years, he was chief finance officer as well as chief executive. “When you drive a car, you need to control the gas pedal and the brakes at the same time,” he explains. “I saw a disconnect between finance [chiefs trying] to hit the brakes, and the CEO who wanted to accelerate. I felt I needed to drive this car initially myself.” That changed when the company grew and his job became “too complicated?.?.?.?that’s when you bring in new skills”.
This summer, Mr Zeitz will take on his latest challenge when he steps in to his role to develop the sportswear division at PPR, which owns Alexander McQueen and Yves Saint Laurent. He will also continue to oversee the group’s sustainability policies.
He denies environmental concerns are a gimmick. He points out that this month Puma became one of the first global companies to release estimated costs of its carbon dioxide emissions. At �66 ($93) a tonne, it is more than three times higher than the current price for permits under European environmental legislation. Coca-Cola and Daimler have expressed interest in learning about the initiative in quantifying their environmental impact. The company hopes to increasingly offset its carbon emissions through investments in renewable energy schemes as well as reducing its energy consumption. “We have a planet with limited resources. You have to do something about how you do business,” says Mr Zeitz.
Owning a farm in Africa has reinforced his love of nature and influenced his business outlook, he says. As it turns out, he is no mere safari enthusiast, but an honorary warden of Kenya, which means he is responsible for the elephants, lions and buffaloes on his land. Does he know what he’s doing? “Actually I do, believe it or not?.?.?.?I’ve been travelling in Africa for 20 years and reading lots of books about wildlife?.?.?.?I grew up in the forests of Germany, the son of a hunting family.”
He insists he has no qualms over losing the prestige role of chief executive. “I’m pleased I don’t have to be involved in every operational detail anymore.” And he denies harbouring ambitions to be CEO of PPR. “I’m happy with [my] job?.?.?.?and everything I have ever wanted to accomplish in my business life, I have.”
That steely focus wavers only when he reveals that his mother had died only the week before our interview. “It wasn’t easy?.?.?. I think losing your mother is?.?.?.?Anyway,” he shrugs, keen to return the discussion to professional matters, “I don’t like my private life to be exposed?.?.?.?[In my head] my personal life affects my business life, and the other way round?.?.?.?[which is] holistic thinking.
“[But] I’ve never been somebody who mixes private with business?.?.?.?you’ve got to have privacy.”
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