8. Masahiko Uotani, Part 1: CEO That Brought “Waku-Waku” to a 150 Year Old Company

On the perception of beauty, how an outsider became CEO, not recreating the company but unleashing the people, uplifting with waku-waku, and fundamentals of corporate governance.     Known as “Tani” to his friends abroad, Masahiko Uotani is my hero.  Shiseido was one of our initial investments in January 2009, when I launched with my partners the Commons 30 Fund, a “cross generational” long term investment fund in Japanese companies.  We had made the investment based on the thesis that Shiseido’s sense of beauty would have appeal and thus growth potential in Asia.  However, the first several years were a very slow painful decline.  That is when Tani appeared out of the blue and saved the day.  Because of the spectacular turnaround of a traditional Japanese company, Tani is one of the most recognized CEOs in Japan, and the world.   Representative Director, President and CEO Shiseido Company, Limited