KEY POINTS:
Underperforming chief executives should be sacked, stock exchange boss Mark Weldon said ahead of a job summit planned by the prime minister.
Mr Weldon said there should be no slack for business executives not performing properly.
"If (chief executives) aren't coming through get rid of them because companies are at risk," he told the Dominion Post.
"Too often New Zealand business expects other people to be responsible for what happens to them.
"The reality is that at this point in time it is every CEO's responsibility to reshape their strategy and execute it quickly."
Prime Minister John Key yesterday announced an employment summit would be held on February 27 aimed at finding ways to protect jobs and set a strategy for boosting business confidence.
Economic issues will be dealt with in detail today when Mr Key and five of his economic ministers meet in the Beehive.
They will be briefed by senior Treasury officials on the impact the global recession is having on exports and employment.
An economic survey released on Tuesday showed business sector employment intentions at their weakest since 1991, with employers warning of impending job losses.
And yesterday business consultancy firm Dun & Bradstreet said New Zealand's outlook was "pessimistic" because of high consumer debt, falling house prices, diminishing exports and lower tourist numbers.
The Treasury's last economic update, issued on December 18, predicted big increases in debt as the Government racked up unavoidable deficits.
When officials brief ministers today they will have taken account of international developments since late last year - which have mostly been bad.
The employment summit is an important factor in the Government's planning for what Mr Key said would be a "particularly challenging" year.
It will be chaired by a private sector representative and include business and union leaders.
- NZPA
