Dr. Maccoby participates in a Weekly Forum on Washington Post.com called "On Leadership". I am compiling all of his responses to the weekly questions here.
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DATE: July 27, 2010 BP, Dell, Wall Street: Where have the corporate heroes gone? Tony Hayward, once credited for BP's "green" turnaround, is forced to resign in disgrace. Michael Dell, the revolutionary high-tech entrepreneur, is sanctioned for misleading investors. Wall Street titans, once lionized, are now reviled. Where have all the CEO heroes gone? |
Fragile reputations
The reputations of CEOs are fragile, especially in public companies where they are measured every quarter. Their stock price depends on future expectations. Past achievements are like last year's batting average. Failure to meet expectations, mishandling of disasters or shady dealings quickly blacken a CEO's reputation.
Yet, even in difficult times there are CEOs who have managed to stay on their slippery pedestals. Here are a few who are widely admired: Steve Jobs, as a brilliant innovator; Warren Buffett, for collecting companies with quality products and competent, trustworthy management; Mark Hurd, for driving costs out of HP; Alan Mulally, for strengthening Ford and staying clear of government interference; Sam Palmisano, for engaging IBMers in developing a collaborative culture and leading solid growth; Jamie Dimon, for navigating ChaseMorgan Bank through rocky rapids.
All of these leaders have provided value for customers, employees and share holders. They deserve our admiration, at least right now.
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