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Leadership transitions are inevitable for any organization. But without proper preparation, it's all too common to rush to appoint an underprepared successor and end up failing. It's not enough to identify potential leaders within your organization; your company's C-Suitables need to follow through and personally help develop these leaders to augment your talent. Matt Paese, senior vice president of leadership insights at global leadership consulting firm DDI, says the key to building a strong talent base is to take proactive steps to prevent potential leaders from leaving for better opportunities. According to DDI's Global Leadership Forecast, talent numbers have fallen…
June marked the death of Bill Donaldson, former SEC chairman, longest-serving head of the New York Stock Exchange, and first dean of the Yale School of Management. Donaldson served as Under Secretary of State under Henry Kissinger, was an entrepreneurial investor who founded the investment bank Donaldson, Lufkin & Jenrette, and led the turnaround of Aetna as chairman and CEO, among many other accomplishments. Having worked with him for nearly 40 years, I was impressed by his understanding of the social and cultural dimensions of governance, which went far beyond checkboxes of legal, accounting, economic, and structural oversight. Governance Model…
Every day, and more so than ever in an increasingly cashless society, millions of people trust Mastercard’s global network to make secure business transactions that power economies around the world. It’s an enormous responsibility—and one growing exponentially more difficult as transformative technologies like AI and quantum computing accelerate cyber risk. Mastercard has steadily risen to the challenge, turning the ever-more sophisticated threats facing financial companies into an opportunity by investing in anti-fraud IT innovation. Chosen by peers as CBM’s Director of the Year in recognition of her role in those efforts, Mastercard Chair Merit Janow draws on a wealth of…
In today's tough labor market, a shortage of qualified workers is hindering businesses from increasing their productivity. Organizations can no longer increase profitability or improve productivity through hiring.But that doesn't mean you don't have a choice. In my 20+ years as an advisor to business owners and executives, I've come to believe that sometimes the best thing to do is to upskill your existing employees.The U.S. unemployment rate is near a 50-year low and has only risen slightly in recent months. Long-lasting low unemployment means the days of simply hiring new employees and increasing sales are all but over. Companies…
Post-deal, private equity investors retain their existing portfolio company CFOs only 25% of the time. But 2024 has fueled an already serious CFO turnover fire. The first half of the year saw record demand for CFO hires to fill record levels of vacancies. This isn't a big surprise to anyone following the PE industry. With multiples down, sponsors are obsessed with performance. Many PE firms have decided that this new performance mandate will require a CFO with better operational and value-creation capabilities. In fact, according to a prominent recruiter, “sponsors are urging their portfolio companies to replace their existing CFOs…
Josh D'Amaro had recently been promoted to vice president of Hong Kong Disneyland and was leading his first meeting. Business in Hong Kong was going through a turbulent time, and D'Amaro wanted to set the right leadership tone and lead the iconic theme park to success. He stood in front of his marketing and sales executives and told them what they were going to do: “Align, build, and prepare yourself for the future.” And they all did exactly what D'Amaro told them to do. And none of it worked. When he gathered his management team again to find out what…
They say failure is a great motivator. That was certainly the case with TK Kerstetter. After a tumultuous stint as a director early in his career, he decided to help other directors improve their skills. This experience inspired him to write a book on governance in the banking industry (more on that later), which led him to co-found this magazine in 1998 and ultimately pioneer the field of director education. For the past three decades, Kerstetter has been a tireless advocate and defender of governance best practices, and along the way he has been instrumental in the creation of countless…
“For tech companies, achieving high growth is a top priority,” says Steve Isom, CFO of SaaS company Bloomerang. Indeed, a “growth at all costs” mentality has been prevalent among tech startups over the past few years. But the tides are turning. Bloomerang, which provides software to help nonprofits raise funds and manage donors, plans to budget for a more balanced approach to growth and profitability in 2025. Why does it make sense to balance these two important financial goals? Isom, a former bank analyst, spoke with our own Katie Kuehner Hebert about the rise and fall of the emphasis on…
It's been a busy month for Allison Fragar: The research psychologist, professor, and consultant released a new book this week. Likeable Strong: How Women Can Achieve the Success They DeserveOn September 24th, I will be leading the next online discussion for Women Leaders Connect, “Mastering the Art of Negotiation” (I hope you'll join me).Hulagirl took a few minutes to talk with us before the event about the differences and nuances for women in negotiations, and what both women and men need to do to become top-notch negotiators.Do women face greater challenges in negotiations? If so, in what ways are women…
When Darren Rebelez took the top job at Casey’s in 2019, he found a solid business that had been around for 50 or so years but had lost more than a bit of its mojo. The Ankeny, Iowa-based company’s traditional hierarchical structure felt out-of-date and off-kilter for an unconventional business model aimed at delivering both convenience-store, well, convenience and delicious, handmade pizza. So Rebelez set about trying to pull off one of the tougher tricks in C-Suite leadership: turning around a company that isn’t exactly an obvious turnaround.A big part of that entailed working with CHRO Chad Frazell to usher…