For a great read on leadership in difficult times, check out the current BusinessWeek article “How Four Rookie CEO’s Handled the Great Recession”
The article highlights one of our clients’ leaders, Jim Kennedy from T. Rowe Price, and their collective success through one of the most demanding periods of recent memory. Based on his work with Jim, Marty Seldman commented on how using many of the principles in Executive Stamina, Jim and many of the leaders at T. Rowe Price were able to strengthen their company and at the same time balance their personal live. As many of our clients know, it is actually this balance that allows them to have success.
Here are some excerpts from the article:
“T. Rowe Price’s Kennedy prides himself on balancing the demands of office and home. But over the second weekend of September 2008, as Lehman Brothers was crumbling to dust, he worked the phones from his Baltimore headquarters, trying to ease investor concerns about his own firm. Family, church, and gym all had to wait. “I think God might forgive me for missing Mass that one day,” says Kennedy, 56.”
“Kennedy made time for his personal life throughout the challenging months. He got married last year, for the second time, and kept up regular golf games with his new wife, Maureen. He also swam laps three times a week. Periodic checkups with his executive coach, Marty Seldman, helped Kennedy keep perspective on his life and career. “If leaders look like they are unraveling, it can create a vicious cycle of more fear and more stress in the company,” says Seldman. “Jim stayed calm and confident.”
Looking back, Kennedy sounds as grateful to have safeguarded his own health as much as his company’s. “For some CEOs, this would shorten their careers pretty dramatically,” he says. “Others will learn from this and be impacted for the rest of their lives.”