Overwhelmingly human capital and talent is reported as the number two concern among PE investors, second only to achieving growth...yet human capital is not being paid attention to.
Here’s to Tim Sloan, and all the other cleanup artists like him. No, he was not perfect. Yes, he made more than $18 million a year, more money than most people can ever imagine. But he paid for it dearly, getting publicly trashed in a way most people can’t ever imagine, either.
Otis Elevator’s products made the leap from human operators to automation decades ago, now it’s ready for its next lift: A.I. capabilities—and being spun out by United Technologies. Judy Marks shares her plan to lead the 166-year-old company into a technology-forged future.
Facebook is proof that a CEO having imperial control over a public company is a terrible idea. Not just for investors, the board, employees or customers—but for the CEOs themselves.
New York always ends up at or near the bottom of our Best and Worst States for Business list. Today, thanks to the Amazon fiasco, we got a good reminder of why.
[caption id="attachment_67758" align="alignnone" width="594"] Starbucks founder and CEO Howard Schultz says he's contemplating a run for the White House.[/caption] Starbucks founder and former CEO Howard Schultz planted himself center stage for the opening rounds of the 2020 race for the White House Sunday, telling ’60 Minutes’ that he was seriously considering a run for the presidency—as an independent candidate. Chief Executive Editor-At-Large Jeffery Sonnenfeld says Schultz is immensely qualified for the job—but it would take a lot of things going right for him to win. “He won’t be going down easily with the Democratic Party,” Sonnenfeld told CNBC Monday (watch the full video, below). “If he can get that 40% of centrists, that will be the big argument.” The best scenario for Schultz, says Sonnenfeld, would be a showdown between President Trump and a democratic socialist like Elizabeth Warren. If that happens, then Schultz “will run away with it.” The biggest obstacle? Joe Biden as the Democrat's candidate. Like Schultz, Biden has a blue-collar background, lots of name recognition, and is a far more centrist candidate than someone like Warren. If Biden runs, “it’s a lot more complicated,” says Sonnenfeld. “I don’t think Joe Biden and Howard Schultz want to run against each other. I know Joe Biden quite well and he’s quite serious about getting in here and this definitely complicates it.” Back in June, Sonnenfeld detailed why he thought Schultz would be a fit for the White House in a column for Chief Executive, writing that "Donald Trump borrowed the core iconography of mythic American business figures, whereas Howard Schultz actually models" the needed qualities. Asked by CNBC what he thinks of Schultz as a candidate, Bill George, the former CEO of Medtronic, says he loves the idea. “Howard is a truly authentic leader,” says George, “and I think he’s going to be a truly important voice on issues that need to be heard in our country. “If you get an Elizabeth Warren versus a Donald Trump, he looks awfully good as an independent because he’s a fiscal conservative who’s socially liberal, something we haven’t had in 20 years.” I don't think Biden and Schultz want to run against each other, says Yale's Jeff Sonnenfeld from CNBC.
[caption id="attachment_67572" align="aligncenter" width="640"] Herb Kelleher, Southwest Airlines Founder, former CEO and Chairman Emeritus in 2011. Credit: Southwest Airlines[/caption] Herb Kelleher, the revolutionary Southwest Airlines founder and CEO who made air travel a regular part of America's middle class, died Thursday. He was 87. He founded the company in 1967, a low- or no-frills regional airline that first took off in 1971, supposedly after being sketched out on a cocktail napkin. In the decades that followed, it changed the nature of transportation in the United States, introducing air travel to millions of Americans who had never been able to access it before (full New York Times obituary). In 1999, Chief Executive named Kelleher Chief Executive of the Year. "Herb was a lifelong mentor and friend, and one of the greatest joys of my life has been working alongside Herb for over 30 years," Southwest CEO Gary Kelly said in a statement released by the company this evening. "His stamp on the airline industry and all those he touched has been profound. His vision for making air travel affordable for all revolutionized the industry, and you can still see that transformation taking place today. But his legacy extends far beyond our industry and far beyond the world of entrepreneurship. He inspired people; he motivated people; he challenged people—and, he kept us laughing all the way. He was an exceptionally gifted man with an enormous heart and love for people—all people. We have been beyond blessed to have him as a part of our lives." [caption id="attachment_67573" align="alignleft" width="250"] Herb Kelleher, Southwest Airlines, was our CEO of the Year in 1999.[/caption] Kelleher was well known for eschewing standard corporate practices, and for his down-home (and incredibly quotable) business wisdom. We could think of no better way of remembering him tonight than sharing some of our favorite Kelleher quotes, gathered from a variety of sources. On Strategy: “We have a strategic plan. It’s called doing things.” On Loyalty: “The core of our success. That’s the most difficult thing for a competitor to imitate. They can buy all the physical things. The things you can’t buy are dedication, devotion, loyalty—the feeling that you are participating in a crusade.” On Leadership: “Power should be reserved for weightlifting and boats, and leadership really involves responsibility.” “Leading an organization is as much about soul as it is about systems. Effective leadership finds its source in understanding.” “It takes nerves of steel to stay neurotic.” “Think small and act small, and we’ll get bigger. Think big and act big, and we’ll get smaller.” On Marketing: “You must be very patient, very persistent. The world isn’t going to shower gold coins on you just because you have a good idea. You’re going to have to work like crazy to bring that idea to the attention of people. They’re not going to buy it unless they know about it.” On People: “Your employees come first. And if you treat your employees right, guess what? Your customers come back, and that makes your shareholders happy. Start with employees and the rest follows from that.” “You don’t hire for skills, you hire for attitude. You can always teach skills.” On Humility: “You can’t really be disciplined in what you do unless you are humble and open-minded. Humility breeds open-mindedness—and really, what we try to do is establish a clear and simple set of values that we understand. That simplifies things; that expedites things. It enables the extreme discipline I mentioned in describing our strategy. When an issue comes up, we don’t say we’re going to study it for two and a half years. We just say, ‘Southwest Airlines doesn’t do that. Maybe somebody else does, but we don’t.’ It greatly facilitates the operation of the company.”