Lucy Kellaway
I'm not sure you need me to tell you what to do, as you seem to be doing rather well on your own. You are a woman and a foreigner - and the wrong sort of foreigner at that - and yet you have landed a big job in a country where tokenism has not been invented. And, having been in the job for all of three seconds, you are already planning to bite a bullet that your predecessor did not contemplate bringing anywhere near his mouth for years.
But before you do so, I think it might be wise to find out what your bosses expect of you. Did they choose you to replace this laid-back CFO because they know you will be tough when he was feeble?
If the answer to this is yes, then so much the better. You should fire the slacker and employ someone who feels under some sort of obligation actually to do what he is being paid for.
Yet I fear the answer is no. You say that the company doesn't punish slackers, which leaves you with only two options: to try to make him slack less or to leave him alone.