Leadership
-
Harvard Business Review included my article “The C-Suite Skills That Matter Most” in their special issue “How to Lead Now” published May 2024. Harvard Business Review Special Issues are timely, single-theme collections of HBR articles written by some of the world’s leading management scholars and practitioners. HBR editors handpick each article for its relevance and…
-
The High Impact Behaviors of the Most Effective Directors [Harvard Law School Forum on Corporate Governance]
•
1 min read
As Peter Drucker said, “culture eats strategy for lunch.” This is true in the best boardrooms as well. Three years ago, we identified a group we call Gold Medal Boards; those where directors rate their board’s effectiveness highly (9 or 10 on a 1–10-point scale) and where the company has outperformed relevant TSR benchmarks for…
-
The Board’s Oversight of Racial and Ethnic Diversity, Equity, and Inclusion [Russell Reynolds Associates, et.al.]
•
2 min read
In summer 2020, State Street enhanced its commitment to advancing racial justice both inside and outside the organization. As part of this effort, the company launched “10 Actions Against Racism and Inequality” and made these commitments public to increase accountability and motivate peer companies to take action too. Commitment #7 tasked the Asset Stewardship team…
-
2021 Global Leadership Monitor: Leadership Preparedness for the Road Ahead [Russell Reynolds Associates]
•
2 min read
The last year has been one of monumental change for business leaders across the world. Defined by a global pandemic, economic concerns, political strife and social unrest, it has presented unique challenges and stretched individual and collective leadership capabilities. It has added energy to discussions about the purpose of business and its responsibility not just…
-
The Swiss government’s gender guidelines, which mandate that large companies have a minimum of 30 percent women at the supervisory board level, and 20 percent at the executive level, or explain why not, has so far resulted in little improvement in gender diversity. The twenty companies comprising the Swiss Market Index (SMI) are currently 21…
-
Leaders with a ‘Sustainable Mindset’ Can Help Solve Societal Problems [World Economic Forum]
•
1 min read
The past year has highlighted what will likely be an ongoing challenge for years to come: the increasing frequency of challenges leaders must face that impact the economy, environment and society simultaneously. From pandemics to large-scale environmental disasters, to uprisings over societal injustice, it is clear that we need problem-solvers who can transcend silos –…
-
According to recent research from Russell Reynolds and The Conference Board, more than 70 percent of companies who have created a senior-level crisis response team in the wake of the pandemic have appointed legal staff to that team, and many have appointed their Chief Legal Officer to run it. This shouldn’t be surprising: The Coronavirus…
-
The COVID-19 crisis has increased the demand for board insight, oversight, and advice, while boards attempt to adapt to new ways of working, new tools, and new structures. Many have stepped up as a powerful sounding board for stressed CEOs. Other boards struggle, not contributing as needed or causing unnecessary distractions. Despite the fact that…
-
CEO succession planning is one of the most important responsibilities of a corporate board, and one of the most challenging. In the best of circumstances, directors are working thoughtfully to anticipate the future, develop potential successor candidates over several years, and to ultimately have one of them step into the top spot. In emergencies or…
-
In February 1992, General Motors announced that it had lost $4.5 billion the prior year, then the worst ever annual loss for an American corporation. In the short-term, things didn’t get better. Losses the following year totaled $23.5 billion. In the middle of this bleak period, GM’s board took decisive steps. The company’s chairman and…
-
Board Leadership and Performance in a Crisis [Harvard Law School Forum on Corporate Governance]
•
2 min read
Every industry across the globe has faced a crisis at some point in time. While most large companies survive, many struggle for years following a period of severe adversity. Others prevail and become stronger than before. How companies address crises has changed over time, as has the role of the board. Amid COVID-19’s rapid spread…
-
Few senior leaders have faced a challenge in their career as severe and potentially consequential as the Coronavirus pandemic and its global impact. Leaders who often rely on pattern recognition and past experience are finding that today’s issues have no historical comparison. This period is a truly novel test of their leadership ability – and…
-
In 2020, the world entered an unprecedented economic era, triggered by a global pandemic and the contemporaneous collapse in commodity prices, demand for certain goods and services, and a breakdown in supply chains. This was further fueled by constraints on productivity and consumerism due to a need to practice social distancing and to shelter in…
-
Tone at the Top: The Board’s Impact on Long-Term Value [Russell Reynolds Associates and FCLTGlobal]
•
2 min read
Companies that orient themselves around a long-term time horizon while also delivering against short-term objectives have been shown to outperform their peers on several key business measures, including revenue, earnings, economic profit, market capitalization and job creation. These companies were hit hard during the last major economic downturn—as were most businesses—but saw a higher-than-average rebound…
-
Even in the best of circumstances, leadership transitions are tough. Failure rates are estimated at 40 percent, and it often takes 6 months or longer for a new leader to get to breakeven productivity levels. Today, as leaders are operating in the most challenging circumstances most have ever faced, executive transitions are even harder. If…
-
Leadership in a Pandemic [Chief Executive]
•
1 min read
Pandemics are unlike any other challenge we face as leaders. There are no words to fully describe the feeling of dread when you find out one of your colleagues has fallen ill. There are also no words to describe the feeling of pride when you hear of a colleague going out of their way to…
-
Every industry across the globe has faced a crisis at some point in time. While most large companies survive, many struggle for years following a period of severe adversity. Others prevail and become stronger than before. How companies address crises has changed over time, as has the role of the board. Amid COVID-19’s rapid spread…
-
5 Key Considerations for Candidate Engagement in Today’s Crisis [Russell Reynolds Associates]
•
1 min read
Great candidate engagement has always mattered – it can be the difference between getting a great candidate and losing one. The COVID-19 crisis is throwing up a multitude of new challenges. How organizations deal with them will be hugely important to keeping hiring processes moving and maintaining strong talent pipelines for once the crisis has…
-
7 Simple Tips and Reminders for Successful Video Interviewing [Russell Reynolds Associates]
•
1 min read
For many good reasons organizations and candidates have a preference for meeting and interviewing in-person. As many organizations reduce travel and restrict visitors to their offices amidst the COVID-19 pandemic, the temptation may be to reschedule those in-person meetings. We strongly advise that organizations focus instead on shifting to virtual interviews. This will ensure candidate…
-
Driving Leadership Performance and Development in a Crisis: Ten Enduring Lessons [Russell Reynolds Associates]
•
1 min read
The current COVID-19 pandemic is a global tragedy with profoundly human consequences. It is also creating situations where we have seen examples of extraordinary human performance and growth, as individuals and leaders come together to do what they can to help those around them. As senior executives naturally focus on the immediate implications of this…
-
Pandemics are unlike any other challenge we face as leaders. There are no words to fully describe the feeling of dread when you find out one of your colleagues has fallen ill. There are also no words to describe the feeling of pride when you hear of a colleague going out of their way to…
-
Public company boards are under pressure from investors. This stems not just from the usual focus on performance, but increasingly from questions and concerns regarding the quality of the board itself. Board composition has become a focus both for institutional investors pushing for long-term thinking and for activist investors demanding short-term performance uplift. There are…
-
Many observers have been vocal in their perception of a decline in director quality in recent years. According to the 2019 PwC Corporate Directors Survey, 49 percent of US directors say one or more fellow board members should be replaced, and 23 percent say two or more should go. These numbers are up from both…
-
Higher education has become an increasingly litigious environment in recent years. You needn’t look any further than recent Chronicle of Higher Education headlines to understand why: “Michigan State’s Ex-President, Who Faces Criminal Charges, Will Retire with a $2.5 Million Payout,” “U. of Southern California Doctor Is Accused of Sexually Abusing 48 Patients,” “Strikes at Colleges…
-
Building Better Boards: Taking the Long-View of Director Succession [Russell Reynolds Associates]
•
1 min read
When it comes time to fill an open spot on the board of directors, it’s far too easy—and far too common—for directors to fall into the trap of short-term planning and “who do we know” candidate identification. In recent years, companies have improved with regard to thoughtfully identifying and recruiting senior leaders who are best…
-
What the Board Wants to Know: Answers to 12 Common Questions [Russell Reynolds Associates]
•
2 min read
The Expectations of Public Company Directors Continue to Rise and the Work is Increasingly Challenging As the business world becomes more complex, organizations are becoming harder to lead and manage, with scrutiny from investors, regulators, shareholders, activists and the media on the rise. There are growing expectations that directors will more closely oversee areas that…
-
“Are You Coachable?”: Lessons from a Trillion Dollar Coach [Russell Reynolds Associates]
•
2 min read
For many leading Silicon Valley executives, Bill Campbell was a not-so-secret weapon—a trusted advisor who made them household names, even if his own name was virtually unknown outside the Valley. Campbell—who passed away at age 75 in 2016—was a successful college athlete turned professional football coach, first at Boston College, then at Columbia University. After…
-
Going for Gold: Global Board Culture and Director Behaviors Survey [Harvard Law School Forum on Corporate Governance]
•
2 min read
Based on our experience working with hundreds of boards each year, we know board and director performance depends on the quality of board leadership, the ability of the board to focus on the right issues and a small number of critical director behaviors. Our latest research backs this up. The link between critical director behaviors…
-
Going for Gold: The 2019 Global Board Culture and Director Behaviors Survey [Russell Reynolds Associates]
•
2 min read
Based on our experience working with hundreds of boards each year, we know board and director performance depends on the quality of board leadership, the ability of the board to focus on the right issues and a small number of critical director behaviors. Our latest research backs this up. The link between critical director behaviors…
-
As 2018 comes to a close and 2019 begins, five senior leaders at Russell Reynolds Associates reflect on the global and regional leadership trends they see emerging or accelerating in the coming year. I had the pleasure of assisting Clarke Murphy, Constantine Alexandrakis, Patrick Johnson, Matthias Oberholzer, and Patrick L. O’Brien with this piece, which…
-
CEO misconduct, be it personal misdeeds, illegal business practices, violations of ethical norms, or something else – seems to be in the news more often these days. And when a CEO misbehaves, the entire company suffers. The organizational consequences of CEO misconduct are significant. Researchers at Stanford University have shown that when a CEO is…
-
Institutional investors (both active managers and index fund giants) spent the last few years raising their expectations of public company boards—a trend we expect to see continue in 2019. The demand for board quality, effectiveness, and accountability to shareholders will continue to accelerate across all global markets. Toward the end of each year, Russell Reynolds…
-
CEO Transitions: Mitigating Risks and Accelerating Value Creation [Russell Reynolds Associates]
•
2 min read
CEO transitions have always been challenging, but never more so than in today’s environment. As a board governance, leadership consulting and search firm, Russell Reynolds Associates is asked regularly to conduct CEO searches and support long-term CEO succession planning. We advise our clients not to forget about transition planning as a distinct process that needs…
-
General Electric builds a lot of things — including leaders. Since GE’s 1892 founding in Schenectady, New York, almost every single GE CEO has spent all, or virtually all, of his career at the company. As the conglomerate has grown across continents and industries, it has repeatedly been able to develop leaders with diverse skills…
-
In Search of Greatness: How to Choose an Independent Board Leader [Russell Reynolds Associates]
•
1 min read
What makes a great board leader – and how do you know? When US boards look for a new non-executive leader – or a director candidate who could fill that role when the time comes – they often try to identify ideal candidates by looking at backgrounds and experiences. It is a worthwhile endeavor, as…
-
GE signed two deals late last year to sell jet engines to China’s Juneyao Airlines and Industrial and Commercial Bank of China (ICBC). The sales are worth a combined $2.5 billion, and in announcing them, GE highlighted that “China will displace the United States as the world’s largest aviation market in 2022, two years faster…
-
Future Perfect: What it Takes to Manage for the Long Term [Russell Reynolds Associates]
•
3 min read
For years, U.S. public companies have faced pressure from Wall Street to meet or beat quarterly earnings estimates. In response, they have discontinued quarterly guidance, forgone major investments, and sometimes prettied up results with accounting tricks. These defense mechanisms succeed to varying degrees but reveal a concerning truth: Executives often allow the market to define…
-
Intelligence Community Leaders Are Readers – and Writers, Too [North American Society for Intelligence History]
•
2 min read
Harry Truman famously said, “all leaders are readers.” In the Intelligence Community, they are writers, too. This bibliography, created as part of a larger research effort, includes all the book-length works written by heads of US Intelligence Community member organizations. The list is long – 204 entries – and the topics covered are both impressive…
-
Leadership Traits: Balancing the Loud and the Quiet [American Management Association Playbook]
•
1 min read
The stereotypical CEO in movies and TV is overwhelmingly loud. The reality for CEOs and other executives is more complex. Recently, Russell Reynolds Associates and Hogan Assessments examined nearly 5 million psychological profiles of workers and executives. We found that the most successful individuals are those who can balance pairs of competing competencies—a model we…
-
Specialists, Caretakers, and Chameleons: The C-Suite in 2021 [Russell Reynolds Associates]
•
2 min read
It’s a challenging time for corporations. The first years of the twenty-first century have seen a period of rapid technological innovation, an explosion of entrepreneurial activity, and globalization on an unparalleled pace. Nations have experienced unexpected political upheavals. Markets have shifted and changed. So have the employees we lead. And executive teams have never looked…
-
Uniquely Human: Talent Implications of Technological Disruption in the Workforce [Russell Reynolds Associates]
•
1 min read
Few changes in the world have created more uncertainty in the workplace than the recent, seemingly sudden advancements in automation and artificial intelligence. The media headlines can be dire: Vikram Pandit, previously the head of Citigroup, has predicted that technology will eliminate up to 30 percent of banking jobs in the next five years. A…
-
Leading a Legacy: How Outsiders Thrive as Family Business CEOs [Russell Reynolds Associates]
•
2 min read
When Guy Laurence lost his job as CEO of Rogers Communications in October 2016, it quickly became the subject of newspaper headlines and evening news reports. Hired in December 2013 to run the family-owned Canadian business, Laurence was a successful, experienced executive. Previously the CEO of Vodafone UK, he came to Rogers with seemingly all…
-
Jennifer Weber, chief human resources officer (CHRO) for Lowe’s Companies, Inc. has all the qualifications you might expect from a top-level HR executive – and then some. Before joining Lowe’s in 2016, Weber was executive vice president of external affairs and strategic policy for Duke Energy Corp.; a position she took after 20 years as…
-
De-risking Your Next GC Appointment: The Five Key Personality Factors for Success in the Role [Corporate Counsel]
•
2 min read
Rapid technological change, rising globalization, and an increasingly intense and far-reaching regulatory environment continue to disrupt business models and impact organizations. The associated enterprise risks—including vulnerability to cyber assaults, a patchwork of privacy and anti-corruption mandates, and an infinite variety of industry-specific regulation—have elevated the role of the corporate general counsel (GC) in virtually every…
-
When Leaders Are Hired for Talent but Fired for Not Fitting In [Harvard Business Review]
•
2 min read
Over and over again, organizations are unable to appoint the right leaders. According to academic estimates, the baseline for effective corporate leadership is merely 30%, while in politics, approval ratings oscillate between 25% and 40%. In America, 75% of employees report that their direct line manager is the worst part of their job, and 65%…
-
Over the last few decades, organizations have slowly transitioned from promoting employees based solely on technical ability to recognizing the critical importance of soft skills. No longer does the best accounting become the finance director; now it goes to a solid performer who can also manage stakeholders, develop employees, and communicate in an engaging manner.…
-
What we want from our CEOs changes with every economic boom and bust. In the late ’90s it was the “vision thing.” After the tech bubble burst, it was a focus on growth at all costs. In the shadow of the global financial crisis, we wanted leaders who were comfortable with cost cutting and capital…
-
The U.S. Naval Institute on Mentorship [Book]
•
2 min read
Naval service is an apprenticed profession. Experienced sailors mentor their younger shipmates, passing down their hard-earned knowledge and skills, and working side-by-side with the next generation of sailors. This new addition to the Wheel Book series includes some of the best writing on mentoring in the sea services from the past 100 years, offering guidance…
-
Inside the Mind of the Asian CEO [HQAsia]
•
1 min read
Why do some people become CEOs and others don’t? Why do some Chief Executive Officers thrive while others fail? What separates an outstanding leader from an average one? For several years, our teams at Russell Reynolds Associates and Hogan Assessments have sought to understand the differences between average and best-in-class leaders at all levels in…