Leadership Secrets of the Worlds Most Successful CEOs
Eric Yaverbaum.
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Vice President and Publisher: Cynthia A. Zigmund Acquisitions Editor: Jonathan Malysiak Senior Project Editor: Trey Thoelcke Interior Design: Lucy Jenkins Cover Design: Scott Rattray, Rattray Design Typesetting: Elizabeth Pitts
2004 by Eric Yaverbaum
Published by Dearborn Trade Publishing A Kaplan Professional Company
All rights reserved. The text of this publication, or any part thereof, may not be reproduced in any manner whatsoever without written permission from the publisher.
Printed in the United States of America
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Library of Congress Cataloging-in-Publication Data
Yaverbaum, Eric.
Leadership secrets of the worlds most successful CEOs / Eric Yaverbaum.
p. cm.
Includes index.
ISBN 0-7931-8061-9 1. Leadership. 2. Executive ability. 3. Chief executive officers. 4. Industrial management. I. Title.
HD57.7.Y38 2004 658.4' 092dc22
2003022995
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Dedication
To Suri, Cole, and Jace All we ever need is in our own backyard.
I consider my life, primarily, to be a continuing education course, and I am looking forward to learning more before the day is over.
Ted Turner, quoted in Rochester Review, Winter 2002-2003, .
Acknowledgments
First and foremost I have to thank the best writer to walk the planetthe only writer I would ever collaborate on books with, and a man I have come to have the greatest of personal and professional respect forBob Bly.
I cannot thank Maryann Palumbo enough for introducing me to my super agent, Bob Diforio, who found a great home for this book, and my editor Trey Thoelcke for making the manuscript much better than it was when it first crossed his desk. Major thanks to Jonathan Malysiak for his advice and wisdom in bringing the book to Dearborn.
I want to thank the Young Presidents Organization, which I have been a very active member of, for the great inspiration its members have given to me over the last decade and the main reason I have become so fascinated with the topic of leadership.
I remain deeply appreciative to key members of my public relations agency, Jericho Communications, who are always so supportive while I add the responsibility of author to my already complicated day. No doubt it makes the day a little harder for them. Thanks to my long-time partner Jonathan Sawyer and parts of my wonderful staff and associates, including Ian Madover, Kathy Bell, Tara McNally, Greg Mowery, Felicitas Pardo, Kevin DeSantis, Alison DeSena, Cindy Gittelsohn, Julie Lin, Michelle Mandara, Vanessa Losada, Susan McGill, Alyson Herman, Diane Shillingford, Ian McRae, Dominic Park, Karine Ng, Novel Sholars, Daniel Teboul, Jessica Schaifer, Zahya Hantz, Jessica Greenberg, Ana DaSilva, Sharifa Mills, Chris Roberts, Aline Khatchadourian, and Aki Hakuta. A particularly big thank you to Michelle Frankfort for her work on the IKEA chapter. A very, very special thank you to Ursula Cuevas, who spent an awful lot of time keeping all of this organized for me.
Thanks to all the executives who took time out of their enormously busy schedules to be interviewed for this book. Thanks also to the public relations professionals and communications managers who made these interviews happen on time.
Thanks to my in-laws, Bernie and Noreen Nisker, for all their help on the homefront while I was busy writing. And as always to my mother and father Harry and Gayle who support any and everything I do.
Introduction
Who knows what it really takes to be an effective leader in the business world? The worlds most successful CEOs, of course, the men and women who run the #1 or #2 corporation in their industry or market niche.
The idea for this book came to me at a dinner I had a couple of years ago with a small group of CEOs and Richard Grasso, former head of the New York Stock Exchange. The conversation between Mr. Grasso and the other CEOs about leadership during 9/11 made it crystal clear how many brilliant and varied ways there are to be a great leader.
If that evening could have been videotaped and people could have watched the conversations, you could have picked up dozens of leadership strategies from some of the worlds most successful men and women. I realized that no one leader has all the answers, but if you combined the most brilliant ones, youd have everything you need to lead your organization to success.
In Leadership Secrets of the Worlds Most Successful CEOs, 100 top CEOs revealin their own words and through exclusive interviews not published elsewheretheir secrets of effective leadership: the proven strategies, attitudes, behaviors, philosophies, and tactics they have used to help themselves and their organizations rise to the top.
But can they really teach you to do what they do? Can leadership be learned? Leadership is not an innate characteristic, and it can be developed through training, notes Garee Earnest, Ph.D., of Ohio State University. An article in The Wall Street Journal says, Are leaders born or can they be made? Increasingly, experts say the latter.
According to The Wall Street Journal Career Journal, a survey of 300 company presidents and CEOs found that these executives believe they were born with only 40 percent of their leadership abilities. The remaining 60 percent they developed through experiences.
Other studies, such as Daniel Golemans book Primal Leadership: Realizing the Power of Emotional Intelligence (Harvard Business School Press, 2002), indicate that an individuals ability to recognize and regulate his emotions, and the emotions of others, accounts for 80 percent of leadership success in organizations. An article in ComputerWorld magazine concludes, Leadership qualities can be spotted and nurtured, and everyone has leadership potential.
To find out the Leadership Secrets of the Worlds Most Successful CEOs, we interviewed more than a hundred CEOs and simply asked them three critical questions:
What is your most powerful leadership technique? Can you give one or two examples of how this technique increased profitability, helped you gain market share, or achieved another important objective for your company?
How can a person become a better leader? Then we edited each interview into a short summary and explanation of that CEOs most powerful leadership secret. Reading time: less than seven minutes each.
The recognition of the importance of leadership skills in business and the demand for leadership informationis growing. According to an article in Executive Leadership newsletter, 40 percent of U.S. corporations now have some sort of formal leadership-training program. A recent Harris Poll shows that only a third of senior management of Fortune 500 companies feel confident in the abilities of the next generation of leaders.
Recent newspaper stories about Enron, WorldCom, Tyco, ImClone, Arthur Anderson, Martha Stewart, and Global Crossing have dramatized the current leadership crisis in corporate America today. In fact, the number of CEOs ousted for poor performance has increased 130 percent over the past six years. Clearly, thousands of businesspeople in these companies and othersfrom shop floor supervisors to presidentscould benefit from the management and leadership strategies and ideas shared in this book.