CEO Trust Blog

Forbes Article by Veta Richardson, CEO Trustee

Thu, 19 Feb 2026 22:19:10 GMT

Trust will define the next era of leadership. It is the foundation of relationship building. It is core to what CEO Trust does and who we are. Thanks to Veta for her thought leadership in this article.

https://www.forbes.com/sites/forbesbooksauthors/2026/01/16/why-trust-not-technology-will-define-the-next-era-of-leadership/

CEO Trust Expands Leadership Team with the Addition of Shavonnah Roberts Schreiber in Houston

Tue, 01 Apr 2025 21:44:16 GMT

CEO Trust, an exclusive community of CEOs and board directors, is proud to announce the addition of Shavonnah R. Schreiber as Houston Chair, CEO Trust. As the company continues to evolve and expand its services, Schreiber will be stepping into a pivotal leadership role, further enhancing CEO Trust’s commitment to providing exceptional services for its members in Houston and around the world.

Schreiber, who brings two decades of B2B experience in the technology, energy, aviation, and professional services sectors, has a proven track record of assessing business opportunities in both start-ups and Fortune 500 organizations. Shavonnah develops effective go-to-market plans, sales strategies, and international marketing campaigns. She will deliver unparalleled value to CEO Trust’s membership base. Her strong background in client engagement makes her the ideal leader to help CEO Trust build even stronger connections.

"Shavonnah is a dynamic leader whose character and experience align with the vision of CEO Trust. Her extensive background in leadership and ability to build meaningful relationships will allow us to strengthen our services and extend our reach in Houston," said Theresa Boyce, CEO of CEO Trust. "We are thrilled to welcome her to the team and look forward to the positive impact she will have with our members and the local business community."

As part of her role, Schreiber will be responsible for overseeing day-to-day operations of CEO Trust’s in-person services, coordinating exclusive events, and facilitating the ongoing growth of the organization’s leadership initiatives. Her addition marks a significant milestone in CEO Trust’s ongoing effort to provide personalized, high-level resources to CEOs seeking to collaborate, grow, and succeed.

"I am incredibly excited to join the talented team and other CEO leaders at CEO Trust and contribute to its mission of supporting CEOs with meaningful connections and leadership development," said Schreiber. "I look forward to working closely with our members to foster collaboration and provide the tools they need to excel in today’s fast-paced business environment in Houston and beyond."

About CEO Trust:

CEO Trust is an exclusive community dedicated to propelling CEOs and their businesses to higher degrees of success, strategic collaboration, and exclusive opportunities. With a commitment to fostering meaningful connections among CEOs, CEO Trust provides a platform for members to collaborate, grow, and navigate the complexities of today’s business landscape.

For media inquiries or more information, please contact:
Gail Syman
CEO Trust
Phone: (719) 209-5277
Email: gsyman@ceotrust.org
Website: CEO Trust

College Presidents as Corporate Board Directors

Mon, 20 May 2024 18:50:30 GMT

By Jonathan Peri, Ph.D., J.D., President of Manor College and Lisa Quateman, CEO of Voyager Advisory LLC and Board Director for public, private, and non-profit organizations.

As companies strive to bring varied voices into their corporate boardrooms, new sources of talent have emerged in recent years, from, for example, industry specialists to military leaders. A rich source of talent exists among leaders in academia, where, contrary to assumptions about academics in so-called ivory towers, we find that many college and university leaders bring superb business experience and innovation into the boardrooms that they serve.

In addition to their traditional roles and NGO engagements, college and university presidents increasingly serve on corporate boards, both public and private. They are selected for these positions because their experiences and skills encompass significant depth in the business of education, much of which is transferable to other industries.

Higher education has a lot of moving parts, fundraising, recruitment (sales), facilities, finance and investments, marketing, education as a product and service (think university hospitals and research universities), student services, information technology, human resources, diversity, equity, and inclusion, employees with multi-faceted functions, and a governance structure that intentionally shares power and places a focus on environmental, social, and governance issues. Presidents sit atop at least seven or eight operations, even at the smallest institutions.

As board leaders, here’s why higher education presidents get selected as directors:

Strategic Vision & Leadership: University presidents excel in developing, implementing, and leading strategic plans. Living within a shared governance model, Presidents are consensus builders inside and outside of the strategic planning context. They negotiate the best pathways forward emerging from a diversity of ideas, balancing the concepts developed by lifetime organizational employees with the fresh eyes of new recruits. These attributes help corporate boards facing dynamic markets and demanding stakeholders, including vocal workforces.

Financial Acumen: Responsible for significant budgets and major fundraising efforts, university presidents have a deep understanding of financial analysis, resource allocation, and investment management. This fiscal expertise is invaluable for companies seeking board members with the ability to assess financial health, guide investment strategies, and navigate complex financial decisions.

Governance & Risk Management: University presidents are well-versed in the principles of good governance. National and statewide associations regularly provide presidents with cutting edge professional development. Presidents oversee intricate board structures and navigate compliance regulations while balancing competing interests within their own institutions. This experience enables them to advise on board effectiveness, mitigate risk, and protect the organization's reputation. This tends to be particularly true when the president is also an attorney or accountant, as is increasingly the case in higher ed.

Crisis Management: As we have seen in the media recently, leading educational institutions involves dealing with unforeseen challenges and public scrutiny, much of which reflects broader geo-political issues The wisdom gained from these experiences is transferrable and these experiences cultivate the composure needed for corporate boards facing difficult situations. College and university presidents are typically adept at thoughtful decision-making under pressure and communicating effectively to restore trust.

Diversity, Equity, & Inclusion (DEI) Expertise: Presidents often champion DEI initiatives, overseeing policy development that shapes organizational culture. Most corporations now embrace DEI as a core value, though others have trepidation. College presidents are used to spirited discussions and moving adversarial scenarios to dialogues of “creative friction,” where workable, realistic outcomes are an outgrowth of voices being heard.

Community & Stakeholder Engagement: Successful presidents excel at collaboration with diverse stakeholders, including not only traditional on-campus groups, but also government officials and local communities. They have developed excellent communications skills. This experience translates seamlessly to corporate boards who regularly interact with investors, employees, customers, regulators, and the wider community. This talent also supports development of senior managers who are interfacing with these parties as well as company lenders and service providers. These board members offer a valuable sounding board and mentorship opportunities to internal leaders.

Global Outlook: Many universities have international partnerships, but this is just the tip of the iceberg. Presidents pride themselves on being not only well apprised of global affairs, but actively engaged in them, often as a voice of reason and conscientious direction. Presidents gain sensitivity to global trends and cross-cultural communication, an asset in today's interconnected business world.

Keenness with Emerging Trends: Familiarity with university level leading-edge research keeps presidents at the forefront of technological, social, and economic opportunities. These insights can help boards stay ahead of disruptions and identify innovative pathways. To succeed in their careers, presidents must demonstrate curiosity and a commitment to lifelong learning, which make them ideal role models in boardrooms and at the companies they serve.

Network: Due to their many skills and attributes noted above, plus the job requirement of being relationship-oriented, presidents have significant social networks, with access to others who can serve as helpful partners and community builders. When doors open, corporations thrive, and shareholders and stakeholders with them.

In summary, college and university presidents offer astuteness, esteem, experience and knowledge that enhances a corporate board’s outcomes. Their leadership skills, financial expertise, connections, commitment to inclusivity, and their ability to manage complex environments make them ideal board members.

***

Dr. Jonathan Peri is the President of Manor College, a liberal arts institution in the Philadelphia metro region. He is a “double doctor” Ph.D. in organizational leadership and J.D. / attorney. He has served on several boards including as Chairman of Pennsylvania’s Council of Higher Education on its State Board of Education, as Lead Advisory Director for First State Bank of Texas, as a Member of Pennsylvania’s 529 College Savings TAP Board (investments at the time were $6.8B and continue to grow), and on numerous nonprofit boards. He is board certified by CEO Trust’s Board Trust.

Lisa Quateman currently serves on the boards of directors of AG Mortgage Investment Trust [NYSE: MITT], ITR Concession Company LLC, Lyles Diversified, Inc., NACD Pacific Southwest Chapter, and on the Advisory Boards of Scherzer International Corporation and the UCLA Ziman Center for Real Estate. She is CEO Trust board faculty. She is a retired financial services attorney with extensive governance experience honed over many years representing public and private companies, financial institutions, and government entities, and serving on numerous boards of directors, including the UCLA Alumni Association. She is based in the Los Angeles area and holds B.A. and J.D. degrees from the University of California at Los Angeles.

Innovation for the "Suggestion Box"

Fri, 07 Jul 2023 04:03:59 GMT

Bryan Mattimore's whiteboard technique described in his latest article in Innovation Management is a fun and productive way to encourage innovation and make the "suggestion box" both real and transparent.

By Bryan Mattimore

“Creativity is contagious, pass it on.”
Albert Einstein

If you’ve ever had an experience with a suggestion box program – either running one, or more likely submitting a suggestion – the mere suggestion of having a suggestion box program at your organization might send your head spinning – and not in a good way.
Truth is, with rare exceptions like Toyota, Frito-Lay and Dart industries, traditional suggestion box programs are – and continue to be — one of the most dismal failures in business.
How come? Suggestion box programs do not fail because of a lack of initial employee interest or enthusiasm. They fail because the process for managing, vetting, and developing submitted ideas isn’t as rigorous – or creative – as it needs to be.
Most ideas are like newborn babies – cute yes (no ugly babies here), but not able to do a whole lot more than smile, cry and poop when they’re first born. They need constant care and feeding if they are to survive, much less thrive, and reach their full potential. In the world of ideas, this “care and feeding” comes in the form of team idea building and development, rapid prototyping, and testing. Suggestion box programs simply don’t allow for the further development of ideas.

Another shortcoming of most suggestion box programs is that submitted ideas – and that means all ideas regardless of their inherent merit – need to be taken seriously. Employees need to know that the time they spent thinking about ideas to improve the business wasn’t a waste of time, even if their ideas didn’t ultimately make the cut. Otherwise, employees will become cynical of the process, and the number and quality of suggested ideas will decline precipitously.

A simple way to overcome the shortcomings of suggestion box programs is by using a simple technique I call the Whiteboard Technique. Think of it as a kind of “interactive” suggestion box where ideas can easily and effectively be built on by others.
The Whiteboard Technique… How to!
Here are 9 simple steps for creating a whiteboard idea suggestion program.
1) Post a whiteboard in a public area (conference room, hallway, or cafeteria). Or if you’re company is primarily virtual, a “whiteboard” can be posted on an internal, team, department or company-wide sharing program like Slack.
2) In the center of the actual or virtual whiteboard write down a challenge for which you want some new ideas: i.e. “How do we do a better job serving our customers?” “How do we motivate a multi-generational workforce?” “How can we cut costs?” etc… Whatever could be a timely and important subject for which new ideas are needed. Consider using generative AI programs to help you generate a wide range of possible questions, both general and specific.
3) To create a sense of urgency (and provide a means of closure for each challenge), set a timeline/deadline for each challenge: typically, seven to ten days… by writing the numbers 1-2-3-4-5-6-7 at the bottom of the whiteboard.
4) “Prime the pump” by writing down some preliminary ideas and/or facts on the whiteboard. Again, AI programs like ChatGPT or Google’s Bard can help you here.
5) Then encourage your co-workers to freely add their ideas over the seven days.
6) Each succeeding day of the challenge cross out the corresponding number at the bottom of the whiteboard. 1-2-3-4-5-6-7
7) At the end of the seven days, the challenge is over. A new challenge is then posted on a blank whiteboard, and the process is begun again.
8) At the end of each challenge, summarize the ideas on the whiteboard for yourself and your co-workers to react to. And then… take some kind of action, to demonstrate to your co-workers that their posted ideas, and their effort put in in creating them, was valued.
9) The action taken could include:
a. identifying the winning ideas, along with their plans for further development, or
b. using the ideas as thought-starting triggers for a group ideation session.

That’s it. Very simple. But a powerful tool for turning “water-cooler time” into a vehicle for generating creative and original new content ideas.

An interesting advantage that the Whiteboard Technique has over a traditional ideation session is the creative “soak time.” Time allows the wonderful pattern-finding, idea-combining power of the subconscious mind to work its magic, magic that anyone and everyone can and should be a part of… making unexpected – and sometimes profound — connections between seemingly unrelated fragments of ideas on the whiteboard.

The Whiteboard Technique is a simple and efficient way to liberate organizational creativity. But don’t let its simplicity fool you. Many of our Fortune 500 clients, government organizations and non-profits have achieved extraordinary results with it. And as such, it has been a great vehicle for generating a wide variety of business-improving ideas… not to mention a great way to improving employee satisfaction – and happiness – at work, whether in-person or virtually.

Bryan Mattimore is the Chief Idea Guy at Growth Engine, a 23-year-old innovation agency based in Stamford, CT. His six books on ideation and innovation processes include “21 Days to a Big Idea,” “Idea Stormers,” and the new AI-assisted book, “Quirks.” Bryan’s workshop, “AI Ideation and the Total Innovation Enterprise,” integrates the use of generative AI programs with empirically validated, group ideation techniques to help generate product and process improvement ideas across an entire organization. Bryan can be reached at: bmattimore@growth-engine.com

Happy Fourth of July!

Sun, 02 Jul 2023 21:07:31 GMT

As we celebrate our nation's birthday, I am grateful that, as CEOs in America, we have the opportunity to build businesses that create jobs, contribute to the economy, and make a difference in the world. We have freedom to innovate and take risks, and to pursue our dreams. We also have a heavy load of responsibility. I am grateful to my fellow CEOs in the CEO Trust that we share this journey together, and I appreciate you and the role you play. I am proud to see fellow CEO Trustees be successful, overcome obstacles, lead businesses with integrity and ethics, and give back to our communities and within the CEO Trust.

I am grateful to be in the CEO Trust with many of this country's best CEOs and board directors. Happy Fourth of July!

Theresa

PE is the 'New Age' of Building Your Career Success

Sun, 23 Jan 2022 19:18:59 GMT

Join us for CEO Trust's Navigating Private Equity - Webinar with Mike Lorelli on January 27th. In anticipation of that event here is a related article:

By Michael K. Lorelli, CEO Trustee and upcoming webinar keynote

Working with, or for, a private equity backed company, is the ‘new age’ of building your career success, and career credentials.

In a now-famous, Wall Street Op-Ed piece on November 17th, 2017, they cited that the number of public companies with over $500 million in revenues, was cut in half, as a result of all the M&A over the recent decades. Many people thought this was a typo. It wasn’t. And every day that you pick up the WSJ, there is another one of those public companies, that was bought.

https://www.wsj.com/articles/where-have-all-the-public-companies-gone-1510869125

Personally, we wish the article would have gone on to showcase that in that same timeframe, private equity has quietly exploded to the point where there are 18,000 private equity portfolio companies. That’s more than 4 times as many as public companies, and growing, not imploding. You don’t “see” that explosion, because the public company news is on Page A1of the Wall Street Journal. Private equity, is, sadly, covered on Page B4.

Why is one sector shrinking, while the other sector is exploding? The answer is simple. Investors aren’t stupid. They place their bets on annual returns. The chart below speaks for itself.

So let’s presume that we may have increased your interest in placing your next career bet on building your experience in the private equity sector. In the public sector, there are the companies that do 150% of things right... Apple, Google, and the like. Similarly, the same is true in private equity. The chart below shows that Audax Group has risen to now be the largest private equity company in terms of activity (deals), with 87 companies in their portfolio. They are indeed, the ‘Warren Buffett- Berkshire Hathaway’ of private equity firms.

Most Active P.E. Firms in the US

1 Audax Group 87

2 HarbourVest Partners 64

3 Genstar Capital 58

4 The Carlyle Group 45

4 Shore Capital Partners 45

4 ABRY Partners 45

7 Kohlberg Kravis Roberts 42

8 Insight Partners 41

8 Summit Partners 41

10 Harvest Partners 38 Source: PitchBook 2019 Rankings

And Accent Foods is extremely pleased to have Audax as our ‘Parent.’ They are obviously dedicated to our success, and as such, they provide us a wealth of experience and resource that simply would not be available to us, on our own. And we enjoy the synergistic relationship that the senior leadership team has with them. It makes coming to work every day, not ‘coming to work’ at all. It’s thrilling.

Today's Private Equity Panel

Wed, 02 Jun 2021 20:12:05 GMT

Really informative panel today facilitated by @Marc Hodak and @Randy Zeno, and featuring @Murtaza Ali, @Kurt Brykman and @RJ David, three PE company operating partners. Among them their businesses cover the range, from distressed assets to lower middle market to large enterprises.

In spite of the diversity of their portfolios and investment theses, there were common themes that stood out:

1. Significant change from the "old days" of PE where investors could generate returns by leveraging a high percentage of the asset's value to create more value. Now all are focused on creating value by ensuring great talent is in place who can operate the business to generate real growth, and supporting the teams' success.

2. Exit multiples are now lower than entry multiples -- a departure from past expectations. In addition to focus on talent, this change in business model dynamics has led PE investors to focus with greater urgency on the value they can bring to their portfolio companies: They invest in capabilities that are important to their success, e.g., digital transformation, human capital, IT, government affairs, purchasing.

3. All are putting some emphasis on ESG, but mainly to this point on ensuring progress on DE&I goals.

For those who couldn't make it, look for information on the replay.

Thanks to CEO Trust, Marc and the panelists for a great session.

--written by Amy Radin, Board Director, Author, Transformation Expert

Pat Lencioni On CEO Loneliness

Wed, 19 May 2021 15:57:00 GMT

Leadership can be very lonely. It’s cliché, but it’s also true. For most CEOs, it comes down to having no real source of encouragement and appreciation for what they do, says bestselling author and Chief Executive columnist Patrick Lencioni. “What may be worse is that so many resort to doing what that old country music song says: looking for love in all the wrong places.”

That’s why so many CEOs end up in trouble, writes Lencioni. Looking for praise from assistants, subordinates, customers, consultants, spouses or their board—none of which is really going to help. “Even the most involved spouse can’t adequately understand the depth of a CEO’s accomplishments and challenges without being part of the day-to-day activities of work. At best, they can be a sounding board or a sympathetic ear.”

So, where should CEOs seek to escape loneliness? Lencioni’s contrarian answer will surprise many of you: your leadership team. “When CEOs build real, deep, vulnerability-based trust with team members and understand the different contexts of conversations they are having, they can get the support they need while maintaining the authority their role requires.

“And even if it presents occasional problems and challenges along the way, it’s a far better tightrope to walk than trying to earn the approval and consent of a board chair or a lone sympathetic employee.”

Importantly, the CEO Trust can be a fantastic resource to connect with peers and peer groups to propel each other ahead, and for a camaraderie to mitigate the loneliness.

Leadership for a New Era

Fri, 24 Jul 2020 16:36:39 GMT

An article recommended by CEO Trustee Scott Siers. McKinsey Featured Insights: CEO LEADERSHIP FOR A NEW ERA. It explores four shifts in how CEOs lead. From what we've seen the fourth point is particularly valuable.

NYC Economic Outlook Dinner - October 23 2019

Mon, 28 Oct 2019 16:48:45 GMT

Written by CEO Trust Leader:

The investment management firm Gerstein Fisher hosted the CEO Trust on October 23 for a market and economic discussion. After a generous dinner, John Trezza introduced Chris Meeske, CIMA and Senior Portfolio strategist. Chris provided a broad and insightful overview of market and economic developments. A major theme was the contradictory signals the markets seem to be sending. US large cap stocks have performed pretty well, if a bit choppy, indicating that equity investors have a positive outlook on the economy. The fixed income market, which is much larger than the equity market, is sending a different signal. The tendency to yield curve inversion, or at least flattening, indicates that fixed income investors see economic risk ahead. And gold’s positive performance, unusual when equities are positive, indicate that some market participants are willing to pay up for safety. Chris pointed out that not all these signals can be correct, but how it will resolve itself is impossible to predict and recommends broad diversification.

The discussion was lively. Reflecting the manufacturing interests of several CEO’s in the room, the topic of to where manufacturing will move from China dominated. Pros and cons of India, Vietnam, Brazil, and other countries were discussed.

Thanks again to Gerstein Fisher.

Philadelphia CEO Roundtable

Sun, 24 Mar 2019 17:18:28 GMT

- written by Philadelphia member - Philadelphia Chapter CEO Trustees met on March 13^th at Synovos in Radnor, PA for a roundtable business discussion. We had a lively and engaging conversation on several business topics including leadership alignment, talent attraction and retention, on-going self-development and other top-of-mind topics. We also had an overview of Synovos business in the MRO supply space and some of the priorities for the team. Overall, it was a very engaging discussion and an excellent networking event.

Why PE Firms Create Boards for Portfolio Companies—Voluntarily

Fri, 15 Feb 2019 22:29:05 GMT

Join us for CEO Trust's "Landing Board Seats" Webinar with Mike Lorelli on February 26th. In anticipation of that event here is a related article:

By Michael K. Lorelli, CEO Trustee and upcoming webinar keynote

There are 3,671 public companies with $500 million-plus in revenues in the United States—half the number as in 1996, according to a Nov. 17, 2017, Wall Street Journal op-ed piece. In contrast, private equity (PE) has quietly exploded, with an estimated 17,103 portfolio companies today, according to Private Equity Info. The vast majority of these companies have boards. But why? Public companies have little choice. Private companies have little obligation. Yet both company types typically have a working board of directors that meets regularly, sets agendas, and has committees.

PE firms aren’t exactly known for their lack of IQ or a shortage of scrutiny on every dollar spent on general and administrative costs. While the value of having boards at PE-owned companies is largely anecdotal, insights from those who manage portfolio companies or have served as directors of such companies reveal the ways in which having a board can be critical to sustaining the success of a privately held company.

Why the Hold Period Matters

The average PE firm owns a portfolio company for 5.6 years, according to Private Equity Info, which makes for an environment operating at a breakneck pace. The PE firm’s agenda in a new investment typically kicks off with a comprehensive 100-day plan, providing a lightning start on a strategic plan that will also wring any excess spending out of the equation from the very first second of the hold period. Keep in mind, PE is driven by three measures:

■■ The internal rate of return or the net return earned by investors over a particular time.

■■ Cash-on-cash return.

■■ Hold period (less is more) or the length of time the PE firm owns a company.

Two of these three measures are time-driven, hence the incredible speed inherent to PE firms. Tomorrow really means this afternoon. Next year means next week.

“Putting a board in place and doing a GAAP audit are essential to our 100-day plans,” says Pamela B. Hendrickson, COO and vice chair of strategic initiatives at The Riverside Co. Hendrickson is a 13-year veteran of Riverside where she oversees a portfolio of 81 companies. “There’s no time to mess around in this high-multiple environment. You really need the growth plan pretty quickly. A good board will help you formulate as well as identify pitfalls.”

What’s in It for the PE Firm

“When you’re working with other people’s money—i.e., limited partners—you can’t run [the company] like a proprietorship. No one person has the answers,” says Allan Grafman, a former operating partner at Mercury Capital. “With a good board, we get to the destination faster, and usually with a smarter answer, with more of the right people rowing. I’ve never seen a portfolio company without a board.”

“Various entities are formed to limit liability. A properly structured and run board can add to the shield,” says Robert S. Tucker, managing director at Capital Partners. “A board takes an interest on behalf of investors, lenders, and employees while others aren’t watching, caring about the interests of those who aren’t always there.”

Hendrickson adds: “I can’t think of a time when we didn’t put a board in place. Even our Strategic Capital Fund, where we take minority interests, insists on a board where we (the investor) will have one director. Governance is so much of our focus. If proper governance is in place, everything else will follow.”

The value of a board is underscored upon exit of the portfolio company, says Tucker. “Every PE firm obviously discounts the management projections by some number, based on the perceived quality of management and other factors,” he explains. “To the extent that there are tight practices, audits, key performance indicators, rigorous reporting, all decrease the discount. The lack of a board would result in a larger discount. Existence of a board with meeting minutes signals a higher level of professionalism.”

Private Company Governance

Hendrickson also believes that company valuations are influenced by the existence of a board. “Valuations are definitely more art than science. A seller doesn’t want the lack of a board to be one more thing the buyer believes he will have to fix. And on Riverside’s exit, one reason we get paid well is we’ve done these things right,” she says.

The value boards bring to smaller companies is enormous. “Good outside directors will often see things the CEO misses and will ask provocative questions and push for alternate scenarios,” Hendrickson says. “For example, ‘Have you ever thought about...?’ and highlight potential pitfalls calling on their own experiences.”

An informal survey of managing directors and operating partners suggests that the number of portfolio companies with boards is likely 85 to 90 percent. Said one fund manager: “Operating partners with investment banking backgrounds make crappy operators. You need outside directors who have been there, done that.”

The surveyed managing directors agreed that there are compelling reasons to create a board, although the execution varies: larger private equity groups tend to have a more structured approach, while smaller private equity sponsors are more ad hoc. In both cases, the board model is the same. The model calls for one outside director with industry expertise and a second director with deep functional expertise in the area crucial to the portfolio company. One operating partner suggested what he called the “unanimous success formula” for private company board composition. The elements of this formula include:

■■ Having serial board members. They know how to zero in on the leverage points, participate efficiently, and lend a hand to the C-suite where appropriate.

■■ Laying out the 12-month rolling board meeting calendar in advance, complete with committee meetings.

■■ Supplementing the engagement with a monthly financial call so the board is always up to speed and engaged. This dispenses with lengthy financial reviews at board meetings.

■■ Keeping the financial review during in-person board meetings to 30 minutes.

■■ Creating a board agenda that strikes the right balance between strategy and tactics, knowing that a meaty strategic agenda will fully utilize the outside directors.

■■ Sending the board book to directors at least a full week in advance of the meeting.

■■ Having the CEO reach out informally to board members between meetings.

■■ Encouraging directors to lend a hand to some of the B players in management to help them better their odds of success.

Capital Partners’ Tucker believes that larger private equity firms will all have boards. Only small, and perhaps fundless sponsors, might not have a formal board. Tucker also believes in smaller board sizes. “Typically, five or seven members [is best], and always an odd number,” he says. “The independent directors bring value with an outside perspective and an ability to challenge the inside thinking.”

There may be pushback from a CEO who really doesn’t want other people in his or her sandbox. “Boards that are too energetic can get in the way,” observes Tucker. “But I haven’t seen management resistance, though there may be some grousing unbeknownst to us. And while SOX [the Sarbanes-Oxley Act of 2002] is a public company regulation, tentacles of it nevertheless emanate to the private markets.”

What’s in It for Directors

If you’re being checked out for a portfolio company board role, one of your first questions should be where the company is in the PE firm’s hold period. If the firm is just buying the company, great— everything should be going well unless this was a distress sale (and you’ve already climbed onto the fire truck). Otherwise, you’ve got five years to hopefully gain some stock-option appreciation. If there are fewer than four years left in the average hold period, the runway for your options is obviously shorter. And no living pilot would think to take off from halfway down the runway.

“We’re careful in the selection process,” Hendrickson says. “A small company board is a lot of work, and that makes the process mutually self-selective. The better outside directors get asked back again, and all are invited to our annual Riverside University two-day offsite,” which, she adds, is both “an educational experience and a perk.”

Unlike public companies, private companies tend to start with just two of the usual board committees: audit and compensation. There is no burning need for a nominating and governance committee since, given the shorter runway, there is not a lot of time devoted to CEO succession. With a typical hold period of 5.6 years, CEOs aren’t given the benefit of the doubt very long. One private equity CEO remarked that he felt his tenure was like “the half-life of uranium.”

Directors are likely to be involved in the full bandwidth of the agenda, considerably more than in a public board environment. And since the board is smaller than at a public company—typically comprised of the CEO, two directors from the private equity firm, and two or three outside directors—the atmosphere and interaction between board members and management will be a lot more intimate. Hendrickson demands that “outside directors be active, provide insight and direction, and ask hard questions.” The hidden value of the board, she says, may be that “the operating rhythm of a company is in large part set by the board meetings. It forces discipline.”

Again, brace yourself for the rocket launch provided by the PE firm’s 100-day plan. While the work falls squarely on the management team, the board is close enough to the action to be watching and feeling the artillery fire.

“The 100-day plan is actually the first strategic exercise,” says Mark A. Pfister, CEO of Pfister Strategy Group and author of Across the Board: The Modern Architecture Behind an Effective Board of Directors (M.A. Pfister Strategy Group, 2018). “Boards with extensive strategic planning experience have historically out-performed those lacking this important discipline.”

A new strategic plan is typically in order, and the PE firm will book an offsite with the management team and board, usually with an experienced strategy-work facilitator. The opportunity and expectation should be for outside directors to add their personal value—knowledge of the category, high-level introductions, experience with companies in similar stages of growth, and the like. Talk to the PE firm in advance, and gain insight as to their expectations for the session—and plan to earn your keep.

A PE firm is likely to have piled on a hefty portion of debt, so “covenant watch” is an integral part of the board’s responsibility. It’s easy to scrape close to the guardrails when you’re speeding along at 160 miles per hour, so management should provide the board with a rolling eight-quarter covenant projection model. That way, the company is in a position to alert the lender months in advance and hopefully remain on the forward side of credibility.

Outside directors often serve a double role—vetting board or management candidates, and conversely selling those candidates on the opportunity. Enthusiasm is contagious—and appreciated. Another valuable role played by the outside director is that of a confidant and sounding board to the CEO. After all, it is lonely at the top, and even the CEO needs someone to confide in and, occasionally, vent frustrations. It’s better to do that with a director than with subordinates. The best outside directors I have had in my four CEO roles were those who offered an ear to me, and in my years as a director, I’ve returned the same courtesy that was thoughtfully given to me.

Blink twice and, a couple of board meetings later, the target setting for the next year’s operating plan will begin. It may feel like the final approach, but these budget-setting conversations can be testy, given that potential bonus dollars will be on the table.

And so the cycle continues. With one additional nuance: it’s never too early to be thinking about the exit. In truth, it actually began before the acquisition closed.

A Visit to the WHYY Studios with Bill Marrazzo is Engaging and Enlightening

Thu, 24 Jan 2019 16:37:08 GMT

CEO Trustees met on January 18^th at WHYY studios in Philadelphia for an engaging conversation with Bill Marrazzo, WHYYs CEO. Bill connected immediately with fellow CEOs and successfully tailored his discussion to the questions and interests of the Trustees. His open and candid responses revealed the everyday and long-term challenges WHYY faces in a media driven, rapidly changing and demanding world. Lively conversations and personal connections and interactions with each member ensured a successful and well received morning event.

CEO Trustees learned that during Bill's tenure, he has tripled the size of the newsroom, significantly grown its audience, and enabled WHYY to have the reputation as the "most trusted source of news and information".

Bill talked about the nature of the business and its challenges. This includes the changing demographics of its audience, funding sources, new avenues of reaching its audience, and disruptors (like satellite radio). Bill’s passion for his job and drive for excellence was evident. He feels that as a nonprofit, the bar should be even higher than a for-profit as they receive donations, do not pay taxes, and receive some government funding. He holds himself and his organization to an extremely high standard and clearly strives to provide exceptional service. Bill has brought the discipline of previously being a public company CEO and molded and shaped it to drive the success of WHYY. We also learned that PBS and NPR are network brands, individual stations are their own entities developing content, and thus WHYY is responsible for building its own brand.

Of particular interest is the innovation that is being pursued in reaching WHYY's audience and meeting their needs (current and future) through programming. Just one example is the use of billboards and alerting drivers of what is coming up on their radio station so they can tune in (if not already). And like many great organizations, WHYY is data driven – analyzing everything and making smart decisions. Bill deferred to Art Ellis his VP of Communications and Public Relations for facts and details around targeting, markets, and funding. Art’s knowledge and scope of the business was impressive and added to the depth of the discussions.

Across from our meeting room was the set of the new program, "You Oughta Know". Being in the studios was exhilarating. Rounding out the morning was a surprise drop in visit by radio personality Marty Moss-Coane, making it a truly unique experience.

Mark Spool, Ph.D., owner of Management Development Solutions, a leadership development consulting firm, arranged this meeting.

A Rainy Friday Morning at the Joseph Ambler Inn in Pennsylvania

Sun, 08 Apr 2018 16:26:42 GMT

RECAP OF A CEO ROUNDTABLE:

We came into the historic Farmhouse out of the chilly early morning rain to a warm, cozy, dark wood-lined dining room with a table that could have hosted Ben Franklin or other early forefathers. Over breakfast we discussed a range of topics from civility to hiring and education. It was a lively discussion, and while the topics were serious, the tone and openness was cheerful. The recommended books/video illustrate the range of the discussion:

· Getting Naked: A Business Fable About Shedding The Three Fears That Sabotage Client Loyalty by Patrick M. Lencioni

· The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life (Before 8AM) by Hal Elrod and Robert Kiyosaki

· How to Have a Good Day: Harness the Power of Behavioral Science to Transform Your Working Life by Caroline Webb

· Video: Naval Admiral William H. McRaven: Commencement Address - If you want to change the world start by making your bed

We closed the meeting at 9 am to get off to work. The morning seemed warmer and the dreary start to the day seemed distant, in the past. I left with added energy to tackle the day and some fresh valuable ideas too.

Private-Equity versus Traditional CEO

Thu, 22 Feb 2018 18:43:43 GMT

Join us for CEO Trust's "Private Equity Play" Webinar with Mike Lorelli on February 27th. In anticipation of that event here is a related article:

By Michael K. Lorelli, CEO Trustee and upcoming webinar keynote

A heads-up to directors: Sure, private equity and public company chief executives carry some of the same DNA and title, yet the operating and expectation differences can be huge—and capable of creating a fireball.

Shareholder vs. Shareholders

Not having the ongoing management of shareholders is a plus for the private equity (PE) CEO—no public earnings releases, analyst conference calls, important shareholder phone calls, preparation of fancy annual reports, and the like. The PE CEO enjoys the simplicity of one or a couple of shareholders—or does he? The PE firm has powerful and timely motives to succeed, creating a different set of pressures. I will disagree with every article that says PE companies are not under quarterly earnings pressure. In many cases, it’s substituted with monthly EBITDA (Earnings Before Income, Taxes, Depreciation, and Amortization) pressures and loan covenants that sometimes require NASCAR caliber skills to stay off the guardrails.

The PE shareholder is focused on three metrics: return on investment, cash-on-cash return, and hold period. Two of these three metrics place enormous emphasis on time. Public company long-term earnings-per-share (EPS) growth is not as time-sensitive as the bragging rights of a four-year hold period. The public company CEO has no hold period.

The result in some ways is perpetual. There is no hard cliff date, after which you’ve failed. This can (and does) lead to more financial intrusiveness into the PE CEO’s daily life. It can be a plus, as the newly minted MBAs on the deal team are, after all, pretty good at this stuff and can carry much of the burden when it comes to areas such as renegotiating the loan or resetting covenants.

PE firms usually expect their CEO to be heavily focused on operations, and in some ways to behave like a COO. That can be invigorating and fun for the right kind of CEO, particularly since the focus on EBITDA often doesn’t afford the management layer of a COO at all—certainly a reality in small-cap companies.

The PE CEO, therefore, needs to be totally comfortable and have the bandwidth to shoulder many responsibilities, even the mundane. The flip side, particularly in the small-cap PE environment, is that it is truly “lonely at the top.” Where do you go to confidentially kick the dog? My experience with PE deal teams is that the average IQ is about 160, so there is no shortage of mental stimulation. At one firm, I would book a half day in their office, often between board meetings and with a scant agenda, just to see where the conversation flowed. These were times when it was therapeutic to just let one’s guard down and perhaps experience a few bonding moments.

PE CEOs of new companies have additional agenda items, such as the 100-Day Action Plan (how the deal thesis will be translated into an operational plan from the word “go”), and exit planning. Here is where the PE partners’ contributions really shine. They have mastered the art of the 100-Day Action Plan and typically have tremendous resources to craft an Excel likelihood-versus-purchase multiple exit target matrix, with which the CEO can go and artfully cultivate relationships with the CEOs of potential next parents.

Exit planning at a new company begins on day one. PE deal teams nevertheless should be forewarned: Add value to your CEO or stay out of the way! There is a real difference between adding value and simply having your hand on the rudder. There’s no faking it. The CEO’s respect is earned. There is an art to constructive suggestions and engagement versus leading with your electoral votes.

PE CEO Candidates

A Top 5 PE firm has said that in 50 percent of its acquisitions there is an understanding that a new CEO will be recruited. Either the founder/owner/entrepreneur is cashing out or by mutual agreement, it is deemed that a different set of skills is needed for the next stage of the company. That same PE firm also said that by month nine, 50 percent of the CEOs are not standing. This redefines the expression “half-life of uranium.” This unfortunate result has lessons for the board involved in the selection process, for potential candidates as they boldly “opt in,” for the recruiter who may want to notch another successful placement, and, of course, for the PE investor who at this stage may have tested his gymnastics to the limits with his limited partners. The time and money involved are significant: severance, recruitment fees, the onboarding of the second CEO, and so on. In the meantime, the hold period meter is ticking. A lost nine months because of the wrong CEO pick can seem like a lifetime—and to a PE firm, that is a lifetime.

The following characteristics best describe the PE CEO:

“Jack be nimble, Jack be quick.” The time pressures (hold period, etc.) of the PE environment put pressure on the stakeholders to change out the CEO much earlier if there are performance questions. Call it a faster trigger if you will, but those are the stakes. Management answers to their limited partners who are focused on returns. History suggests that Wall Street has more patience. Board members and recruiters would be well advised to err on the side of the candidate who both tolerates this immediacy and thrives on it.

A Jack-of-all-trades skill set. She or he is indeed the chief cook, bottle washer, CEO, COO, Chief “Lended” Officer, and—given the scarcity of administrative assistants—may even have a trip to Staples on the to-do list.

No corporate staff to write a strategic plan, and certainly no budget to commission assistance from a big-name consulting firm.

The new PE portfolio company CEO had better cozy up and love the tight quarters shared with the deal team because they’re in this foxhole together—and may even be sharing a pillow some nights.

It has been said by one recruiter that if you want a CEO candidate from a company like General Electric or PepsiCo, don’t recruit an executive directly from GE or PepsiCo. Instead, find the executive who left one of the Fortune 50 companies to be the biggest fish in a smaller pond—only to fail, get kicked, fall in the streets, get rained on and shot at, and then picked themselves up, learned from the smaller company transformation, and successfully pulled themselves up by the bootstraps, and having been bruised, yes, by the experience, nevertheless learned the hard way to think and perform in an environment without all of the support systems.

To directors of PE firms, think about these observations from both sides of the fence. Some of these recruiting characteristics may have applicability to the search process for the new dawn of public companies, where Wall Street is becoming less and less patient. After two tours of duty as a PepsiCo division president, I couldn’t do what I do now without the skills I learned in that high-performance culture and environment. Yet I wouldn’t trade my present day PE life for all the bitcoins in the world. The PE world offers truly unique and rewarding challenges, for both the portfolio company CEO, and its PE firm. The ideal next PE CEO candidate may be a blend of large company, smaller company, and PE experience.

Federal Reserve Bank of Philadelphia

Mon, 09 Oct 2017 13:50:08 GMT

On Thursday morning, we sat down with Patrick Harker, CEO of the Philadelphia Federal Reserve. Pat took a few minutes to share a top-line view of the economy and the local Greater Philadelphia region. The remaining hour was a fascinating discussion that ranged from talent mismatch with company hiring needs to levels of student debt and the concern about many state debt levels. Pat mentioned a couple studies. The links to those are:

Investing in America’s Workforce study:

https://www.philadelphiafed.org/-/media/community-development/publications/special-reports/investing-in-americas-workforce/iaw-report-on-workforce-development-needs-and-opportunities.pdf

And the Apprenticeship Guide:

https://www.philadelphiafed.org/community-development/publications/special-reports/apprenticeship-guide

This was an off the record conversation with Pat Harker, a fellow leader, not a statement coming from the Federal Reserve, so I won’t summarize the content in detail. This was not video taped for CEOs who could not attend.

After the meeting, we had private tours of the underground vault. It was an experience and interesting. We marveled at the sophisticated machinery, and at the same time, it seemed quaint, as much of the process seems unchanged in many years. One surprise for me, was the distinct and recognizable smell of money, somewhat overwhelming at the beginning of the tour, fading as we moved to the area where the bills were sorted and repackaged to go back out into circulation. Of course the security and locked down nature of the operation was impressive.

A well spent morning.

CT's Evening with Mario Leite, CEO of Tea-rrific! Ice Cream

Mon, 07 Aug 2017 19:26:59 GMT

written by Bryan Mattimore who is Cofounder and Chief Idea Guy of the Growth Engine Innovation Agency in Norwalk, CT, and author of the books, Idea Stormers, and 21 Days to a Big Idea.

A recent CEO Trust dinner-event in Connecticut, sponsored by Milford Financial at the Stonebridge restaurant in Milford, CT, featured a compelling talk by entrepreneur Mario Leite. Chief Executive Officer of the five-year old CT ice cream company Tea-rrific!, Mario, along with his wife and cofounder, Souvannee Leite, shared some of the hard-won lessons, along with the tremendous satisfactions, in starting a new business based on a combination of personal passion and creative persistence.

If you don’t know Tea-rrific! and its products, it is tea-infused ice cream. Flavors include such exotically named products and ingredients as: Matcha Green Tea, Chunky London Mist, Ginger Matcha, London Mist, Masala Chai, Chamomile, and Lavender's Blueberry.

Yes, at first blush, it seems like an outlier, even crazy idea, right? Tea in ice cream? Turns out, it’s a wonderful combination… as all the CEO Trust members can now attest from their own personal taste-tastings. Comments included: “absolutely delicious,” “light and refreshing”, “tastes more natural and healthier than other ice creams,” and “the tea adds such extraordinary flavor!”

Mario’s willingness to share the inside story of the significant challenges: including financing (from friends and family), product development, packaging, production, sales, and marketing... and the solutions he and his wife conceived to creatively address them, made for a fun and fascinating look at their five-year journey to success. Here are five key takeaways/lessons learned from Mario’s talk:

Quality is King (and Queen)

In these times of quick hits, short new product development time frames, and occasionally shoddy product quality, it was clear that Mario was passionate about creating quality products, and taking the time necessary to do it. He and his wife experimented for a full year to get just the right combination of ingredients and blends to create a delicious, healthier all-natural ice cream. His undergraduate major in molecular biology (before embarking on an investment banking career with RBC) clearly was invaluable in helping him create his innovative products. It’s not an exaggeration to say that the care that Mario and his wife put in the development of their products can be tasted in every bite.

A Unique Offering Goes a Long Way

In the supermarket industry, retailers are: a) “cutting the long tail;” that is, limiting the number of products they offer in order to maximize sales and supply-chain efficiencies, and b) championing their own private label offerings. This creates a particularly tough environment for new brands to get distribution, especially for a start-up like Mario’s that didn’t have the start-up capital to pay slotting fees.

What made the difference? How was Mario able to get distribution in Whole Foods and other national chains – and not pay slotting fees? Quite simply, it was by having a unique, high-quality product. Once the buyers tasted his product, they were sold.

Listen to Your Market… Continuously

One of the challenges in launching original/truly unique products, is that if the product is premium priced, the barrier to trail can be high. Consumers are reluctant to buy expensive or large sizes of products, if they aren’t sure they’ll like them. Mario’s solution: Offer a line of lower-priced single-serve offerings (priced at $1.95 versus a pint priced at $5.95) that allow consumers to try different flavors, and discover the flavors they are most passionate about before trading up to a full pint.

Be Flexible in Your Distribution and Marketing

As supermarket chains get more sophisticated in analyzing the weekly and even daily sales performance of the products they carry – and ultimately the return per square foot -- there is a constant pressure to get the “turns” they are looking for. If a product doesn’t sell well day in and day out, retailers are much quicker now to de-list the product.

So, Mario explored other channels of distribution including shipping containers of frozen ice cream to Brazil and Japan. Two of the more surprising – and most successful – channels he developed are corporate and college cafeterias where his single serve packages have achieved a passionate following, including in the Facebook and LinkedIn corporate cafeterias in California.

Be Aware of Trends… and Never Stop Innovating

What trends are emerging now in new food products? Heathier, more natural ingredients? Bigelow Tea, and their highly-successful new Benefits line is a good example of this trend. Cleaner, simpler labels/fewer ingredients? Consider Jolly Time’s successful new Simply Popped line of butter popcorn. The importance of single serve/on-the-go offerings? Entenmann’s mini versions of their classic cakes has been a big hit. Cleverly, Tea-rrific! has leveraged all these trends in its current line of products.

What about the future? How about an allergen-free offering? Even dairy free ice cream? Mario and his product development team; that is, he and his wife, Souvannee, are currently working on new products in both of these areas.

So, what are the most important lessons learned from Mario’s talk for corporate innovation leaders? Simply put: Be passionate about the products and services your organization is creating, don’t take the easy road of developing a me-too product, be relentless about quality, make it easy for potential customers to try your product… and never stop listening to, and innovating for, your customers!

The NY Chapter Joined Jeremy Cage on the Night of His Official Book Release - A Katie Couric Recommended Read!

Thu, 26 Jan 2017 17:55:09 GMT

We were thrilled to join Jeremy Cage on January 17th 2017, the official night of his book release, for the NY Chapter’s most recent event. During “All Dreams on Deck – Charting the Course for your Life and Work ” Jeremy shared his adventures of sailing around the world with his wife and two young children and the life lessons he took from that experience.

Jeremy used his story to challenge all of us to be courageous and to follow our dreams as he had. He said that taking this step changed his life and gave him and his family great fulfillment and confidence to pursue other dreams.

During the interactive discussion, Jeremy shared the insights that allowed him to successfully plan and achieve his dream. One of his insights was to "dream specifically" (which is to say that the clearer you visualize your dream the more likely it will be successful), and to "dread vaguely" (which is to say you need to understand that most things keeping you from pursuing your dreams are not the insurmountable obstacles you first believe they are).

Jeremy noted that the lessons can be used to allow people and companies to become more creative, successful, and satisfied by unleashing their true potential. The session definitely gave us all great pause to think about our dreams and how to think and act differently in order to realize them.

Photo: Stephanie Grayson, Twitter: @Critiques4geeks

Don’t Be Blindsided By Technology — Lessons from the Title Wave of Change in Media

Sun, 23 Oct 2016 22:15:19 GMT

Unless you have been living on a remote island for the past decade, you have seen or experienced the impact of major innovation in the Media Industry due to technology. Not surprisingly, McKinsey http://www.mckinsey.com/industries/high-tech/our-insights/digital-america-a-tale-of-the-haves-and-have-mores shows the extent to which this phenomenon, in the form of digitization technology, is affecting 22 sectors. With Media second on the list and having personally lived through those changes, I offer some hard and fast lessons to prepare CEOs for your company’s inevitable crash with technology.

Lesson 1 — You have a lot less time than you think

Whatever lead-time you think you have to pivot or be ready for tech’s impact, cut it in half. For complete article go to Ray Carballada's Blog _ Don't be Blindsided

Article by Ray Carballada

Voila Chocolat Business Tour and Tasting

Fri, 21 Oct 2016 12:38:43 GMT

Wednesday night’s Voila Chocolat event was a thoughtful tour through the mind and business of the entrepreneur and chocolate visionary, Peter Moustakerski. The evening began in the private room of the chocolate atelier where wine and canapés were served by the in-house master chocolatier Christophe Toury. Then Mr. Moustakerski gave an insightful, honest and compelling presentation about his business, the world of chocolate and his plans for future growth and national presence.

The night was punctuated by a chocolate tasting led by by Chef Toury. The participants tasted 5 uniquely delicious truffles, and learned about the process of making truffles using premier cru ingredients. Participants learned about the Voila Chocolate experience but also gained insight into the multi-faceted chocolate industry, the principles of chocolate making and the challenges and opportunities of scaling a successful business. As many of the participants are entrepreneurs themselves, the event resonated in a personal and inspiring way.

-- Written by Kate Edwards, Photos by Jia Li

Joe Tait Endowment to Temple University Students

Fri, 21 Oct 2016 12:28:32 GMT

Friend and fellow CEO Trustee Joe Tait passed away in March of this year. He was a husband, father, brother, son, and friend to many. The entire Tait family appreciates all the support, outreach, and offers to help.

Joe loved helping people. He was an avid networker and mentor. He made time for everyone, but he especially loved helping students. Joe’s family feels the best way to keep his memory alive is to continue helping and mentoring students.

They have established the Joe Tait Networking Fund through Temple University which will go directly toward mentoring students and helping them network with alumni and area professionals.

The goal is to have this fund reach endowment level ($50,000) so Joe’s legacy will continue in perpetuity with no further fundraising. The Tait family is asking friends and family to take this one opportunity to donate to the fund by clicking the link below:

Joe Tait Networking Fund

http://giving.temple.edu/JoeTait

If we all do our part toward helping students, we might just equal the work Joe would have done.

Thank you,

Joan, Josh & the Tait Family

You may also donate through the CEO Trust. Simply go to donate on the site. That will make CEO Trust's donation more impactful. We will combine your donation with previously received donations and submit to the fund before the end of October.

The Slippery Slope of Goals and Incentives: Incentive to perform is often indistinguishable from incentive to cheat.

Tue, 14 Jun 2016 16:20:09 GMT

by Tim Askew at Inc.

CREDIT: Getty Images

Management savant Peter Drucker supposedly said, "If you can't measure it, you can't manage it." The only problem with this frequently cited quote is that Drucker never said it. In fact, he actually said things quite the opposite. Like "Culture eats strategy for breakfast."

Last week I attended a fascinating all-day seminar at NYU's Stern School of Business titled "Ethics by Design: How to Use Nudges, Norms and Laws to Improve Business Ethics," sponsored by Ethical Systems.org, the Behavioral Science & Policy Association and CEO Trust. There were over 150 attendees, mostly top-drawer academics with a sprinkling of executives and entrepreneurs. I found it thought-provoking, useful, and even startling.

The day covered many topics, but the general trope was cautionary concerning our ubiquitous business emphasis on quantification, measurement, and goals. While acknowledging that goals can encourage persistence and performance, almost all seminar participants emphasized the caveat that rigid goals will have deleterious effects on corporate culture and long-term corporate health. While historic studies point to the positive impact of goals on increasing business performance, more recent research, including by many of the attendees and presenters, pointed to the the fact that overemphasis on goals encourages unethical behavior. The symptoms of this include increased moral disengagement, decreased individual self-regulation, and hazardous risk-taking.

for complete article: http://www.inc.com/tim-askew/the-slippery-slope-of-goals-and-incentives.html

Included in the article are quotes by Lisa Ordonez, Vice Dean at the Eller College of Management at the University of Arizona and by Marc Hodak, Managing Director of Hodak Value Advisors and professor at the NYU Stern School.

Good Ethics Is Good Business

Wed, 08 Jun 2016 16:41:58 GMT

by: Jerry Dilettuso

Why is it that individuals sometimes behave in ways that deviate from their values and aren’t even aware that they are doing so? How important is context to ethical behavior? How is it that conflict of interest disclosure often leads an adviser to offer biased advice more freely? Why is it that managers will tend to manage the measure rather than focus on the activity or event measured? Why are employees often reluctant to speak up about problems and concerns? How can organizations create climates more open to employee input and honest upward communication? Has the corporate search for “best practices” in reality become a drive toward common practices as cautious boards gravitate toward a safe norm?

These are just a few of the questions contributors explored in Friday’s “Ethics by Design” Conference at New York University’s Stern School of Business. The event was a partnership between Ethical Systems and the Behavioral Science and Policy Association, with CEO Trust and support from NYU Stern School of Business.

The conference played to a packed auditorium. I was joined at the conference by fellow CEO Trustees who, like me, signed up and stayed for the entire daylong conference, which I thought was a testament to the importance of the topic and the quality of the content. Several Trustees spoke about their experiences, and many volunteered to facilitate lunch discussions. More than 20 of the most noted academics and practitioners in the field of ethics shared their research and insights, including Nick Epley, Professor of Behavioral Science at the University of Chicago's Booth School of Business; Ann Tenbrunsel, Professor of Business Ethics at Notre Dame’s Mendoza School of Business; Linda Trevino, Professor of Organizational Behavior and Ethics, at Penn State’s Smeal College of Business; Carsten Tams, SVP of Ethics and Compliance at Bertelsmann SE & Co. KGaA; and Brian Beeghly, VP of Ethics and Compliance at Johnson Controls, Inc.

Jonathan Haidt, Professor of Ethical Leadership at the Stern School, states, “Business ethics today is like medical practice was 50 years ago. It’s not based on evidence.” With the help of Ethical Systems and its collaborators, Jonathan believes we can design an ethical environment that makes moral behavior easy, automatic, and habitual, and thereby, “change the world.” I was proud that CEO Trust was a contributor to the discussion.

New Column by CEO Trust Speaker, Sydney Finkelstein: How to Get a Great Job

Fri, 06 May 2016 20:39:27 GMT

One of the things CEO Trust speaker Sydney Finkelstein learned about great leaders while researching his latest book Superbosses is how they are very particular in what they’re looking for when they hire talent. According to Sydney (Steven Roth Professor of Management and Faculty Director, Tuck Center for Leadership at the Tuck School of Business at Dartmouth College), working for a superboss is one of the best ways to turbo-charge your career, so it’s worth paying attention. And not just for CEOs, but for your kids, students, mentees... anyone trying to figure out what it takes to get a great job. His new BBC column outlines the three traits you’ll need to get hired by the best bosses.

Read Sydney's new BBC column here.

"Superbosses" - A Breakfast with Bestselling Author Sydney Finklestein

Fri, 25 Mar 2016 21:34:38 GMT

By a CEO Trustee (member)

The Philadelphia chapter of the CEO Trust held a terrific breakfast event on March 22nd, hosted at the Clemens Food Group in Hatfield, PA, in their high tech Customer Experience Center. Participants enjoyed a private culinary breakfast along with a compelling presentation by Dr. Sydney Finklestein, Steven Roth Professor of Management in Dartmouth’s Tuck School of Business and the author of Superbosses.

Sydney addressed a group of some 25 Trust members and employees of the Clemens organization, focusing on why a very select group of high profile CEOS tend to spin out more talent than all the other CEOs in a given industry. His groundbreaking studies have shown time and again that these Superbosses have a common set of characteristics that drive the highest levels of motivation and performance in those within their direct sphere of influence, and he conveyed a few wonderful stories to demonstrate this thinking.

In the fashion industry for example, Sydney talked about an evening where one executive and his colleagues were dining out, and one of the members started up a discussion with three women at another table. The executive began to ask one of the women a series of questions about her rather unique (and attractive) attire, and at the conclusion of this particular executive’s dinner, he walked over to her table and offered her a job. He then handed her his business card and she was stunned to see that she had been talking with Ralph Lauren. Superbosses are always-on talent spotters - they don’t follow convention, they act.

In another example, Sydney described how the leader of one of industries largest investment funds, Julian Robertson, motivated his team. When one of Robertson’s particularly hyper-competitive and young rising stars closed a multi-million dollar deal, the young star expected immediate and enthusiastic praise from Robertson. When that didn’t come for days, the rising star became frustrated until finally several days later, Robertson walked by his cubicle and gave him a very subtle “nod” as he walked by. This infuriated the young star who vowed to “show” Robertson that he could do more. Robertson understood precisely how to motivate this young star and he understood the value of adjusting his interactions with his other employees to accommodate their passion and style. Needless to say, Robertson has spun off countless stars.

Sydney categorizes Superbosses into three primary categories: Iconoclasts (single-minded passion that motivates others - think Ralph Lauren), Nurturers (coaches, teachers, mentors - think Mary Kay Ash), and Glorious Bastards (single-minded focus on winning - think Larry Ellison). Do you know one of these types?

Ironically, the location for the event was totally appropriate given that another Superboss is Phil Clemens himself, the Chairman of the Clemens Family Corporation. He has a long history of developing not only a world class business, but also world class leaders, while exemplifying the characteristics of a servant leader. The business is one of the nation's oldest family-owned marketers of value-added pork products and related customer solutions. Sitting in their Customer Experience Center, it was easy to see that Phil and his team “get it”.

The group enjoyed a lively Q&A session with Sydney and received an autographed copy of his book. Can’t wait to read it cover to cover!

Special thanks goes to our gracious host, the Clemens Food Group, for welcoming us to their site.

Fewer Willing To Relocate As Local Job Markets Improve

Wed, 23 Mar 2016 19:36:50 GMT

by Challenger, Gray & Christmas, Inc.

Relocation among job seekers, which reached a post-recession high in the second half of 2014, fell back down to Earth in 2015 as widespread economic improvements reduced the need to move for employment opportunities.

The latest data on relocation rates shows that, on average, 11 percent of those finding employment each quarter moved for the new position. The data released Tuesday by global outplacement consultancy Challenger, Gray & Christmas, Inc. is based on a quarterly survey of approximately 1,000 individuals completing the job search.

Last year’s relocation rate was down from a four-quarter average of 13 percent in 2014 and 2013. Relocation reached a post-recession high in the second half of 2014, as 15 percent of job seekers pulled up stakes for new opportunities during the final two quarters of the year.

“It is typical to see these small windows of relocation surges. They tend to occur at the beginning of recessions and then again as the economy moves from recovery to expansion,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.

“Last year definitely marked a turning point in the recovery. We finally regained all of the jobs lost as a result of the 2008-2009 recession and, by the end of the year, the national unemployment rate fell to 5.0 percent. Even with the struggles in the oil industry, the number of metropolitan areas throughout the country with unemployment rates below the national average continued to grow,” said Challenger.

Read more.

Goodbye to a dear friend and CEO Trust Colleague, Joe Tait

Fri, 18 Mar 2016 16:19:04 GMT

It is with great sorrow that I announce the sudden passing yesterday of long-time CEO Trustee Joseph Tait. Joe joined CEO Trust pre-launch of the Philadelphia Chapter and was a key founding contributor. He has served in many leadership roles in the CEO Trust: Membership Chair, Program Chair and Board Member in both Philadelphia and Connecticut Chapters. Joe has been a CIO for a number of interesting and challenging companies over the past 15+ years. Most recently, he was CIO of Lydall, Inc., a global manufacturer located in Manchester, CT. Joe commuted weekly between his office and his home in the Philadelphia area. Many of us saw him at last week's Google training in Orange, CT. With his usual consideration, Joe wrote an email the next day to say what a fantastic program it was, and how much he enjoyed and appreciated the evening and the fellow CEO Trustees he saw.

Joe was a great friend, colleague, and mentor. He cared deeply about CEO Trust, nominated many new members and Chaired many programs. He exemplified the generosity of spirit that our organization represents. He was active in TENG and SIM, helping up-and-coming technology executives. He volunteered at his alma mater Temple and Drexel.

Joe is survived by his wife Joan and his son Josh, who is an IT professional. A funeral mass will be held on Wednesday morning.

We will miss Joe. Those of us who met Joe were fortunate to have known such a fine man. I am grateful for that.

Theresa

UPDATE: There will be a celebration of Joe's life this Tuesday evening, March 22nd at the Simeone Automotive Museum (http://www.simeonemuseum.org/) in Philadelphia from 6pm to 9pm. All are welcome to stop by, greet Joe’s family, share stories with friends, and celebrate Joe's incredible and very full life. Wednesday, March 23rd at 10:30 am a full funeral mass will be held in Joe’s honor at St. Alphonsus Church, 33 Conwell Drive, Maple Glen, PA, 19002.

A CT Exclusive Event - Google's Most Popular Program for Executives & Engineers

Fri, 11 Mar 2016 16:45:24 GMT

By a CEO Trustee (member)

We had a terrific event at Race Brook Country Club in CT on March 9th, with good food & drink and a terrific speaker. Julie Murphy, founder of Oakwood Leadership, spoke to around 30 guests about the Search Inside Yourself leadership program developed at Google and backed by neuroscience. The interactive session looked at the impact of meditation & mindfulness and how organizations of all types are using these techniques to improve productivity and bottom line results. The results at companies like Google, Ford, and Genentech where it has been strongly adopted are impressive and really moved the needle!

Some takeaways:

A few stats on ROI for major corporations who've implemented mindfulness training for leaders & employees:
1. Genentech - saw 50% increase in communications, 10-20% increase in employee satisfaction
2. Aetna - saw 28% decrease in employee stress levels, 20% increase in sleep
3. iOpener Institute - saw 46% decrease in cost due to staff turnover
4. Ford - 98% of participants said mindfulness was helpful at managing stress, 94% said mindfulness improved their overall well being
Studies repeatedly show that emotional intelligence is a strong determinant of successful leadership.
Mindfulness is a key military leadership technique used to excel in today's "VUCA" world. ("VUCA" - coined by the Army War College - stands for Volatile, Uncertain, Complex, and Ambiguous)
Gallup Polls on work engagement show that 70% of all American workers are not engaged, and only 22% are both engaged and thriving.
"Mindfulness should no longer be considered a “nice-to-have” for executives. It’s a “must-have”: a way to keep our brains healthy, to support self-regulation and effective decision-making capabilities, and to protect ourselves from toxic stress." - Harvard Business Review
“The main business case for (mindfulness) is that if you’re fully present on the job, you will be a more effective leader, you will make better decisions.” - William George, fmr CEO of healthcare giant Medtronic

Special thanks to our event co-sponsors, Charland Growth Advisors and Brody Wilkson, PC.

CEO Trust Speaker, Dartmouth Prof. Sydney Finkelstein, Discusses "Superbosses" with Fortune.com

Fri, 04 Mar 2016 18:42:18 GMT

CEO Trust speaker, bestselling author Sydney Finkelstein, a Steven Roth Professor of Management, and Faculty Director, Tuck Executive Program (TEP), at Tuck Center for Leadership at Dartmouth, was recently featured on Fortune.com discussing his latest book, "SUPERBOSSES: How Exceptional Leaders Master the Flow of Talent."

On March 22, Professor Finkelstein will share with The CEO Trust the secrets of what makes a “superboss,” and describe how we can emulate the best tactics of superbosses.

Watch the Fortune.com video interview and read the full article here.

Click the following chapter names for details and registration information for CEO Trust’s Greater Philadelphia and New York City chapter events.

PA Chapter Meets Bestselling Author & CEO Robin Koval to Discuss her Book "Grit to Great"

Tue, 23 Feb 2016 21:50:36 GMT

By a CEO Trustee (member)

On February 17, CEO Trust's PA Chapter met best selling author, and CEO & President at Truth Initiative, Robin Koval to discuss her book "Grit to Great – How Perseverance, Passion, and Pluck Take You From Ordinary To Extraordinary." Robin led a lively discussion on research that shows the single biggest predictor of future achievement is the character trait of grit - a combination of guts, resilience, initiative and tenacity. Robin talked about how important it is to be focused on recruiting a staff with Grit. We discussed some of the characteristics of people with Grit, including: they are not afraid of risk and failures; they don’t mind doing several jobs; they are "nice." Robin also pointed out that a team with Grit will genuinely like each other, and gave examples why that was a great competitive advantage.

All participants were treated to their own complimentary copy of Robin’s book, which she signed and personalized for all. The breakfast event was hosted by Storeroom Solutions.

Upcoming CEO Trust Speaker Sydney Finkelstein Featured in The Washington Post

Thu, 11 Feb 2016 18:17:09 GMT

Sydney Finkelstein, speaker for CEO Trust’s upcoming SUPERBOSSES events, is featured in today’s Washington Post piece, “What makes a boss a ‘Superboss’.” Professor Finkelstein is the Steven Roth Professor of Management and Director of the Center for Leadership at the Tuck School of Business at Dartmouth College where he teaches courses on Leadership and Strategy. On March 22, Professor Finkelstein will discuss with The CEO Trust what makes a “superboss,” sharing fascinating stories of superbosses and outlining how we can emulate the best tactics of superbosses to create our own powerful networks of extraordinary talent. Read article below and click for event and registration info. for CEO Trust’s Greater Philadelphia and New York City chapter events.

What Makes a boss a 'Superboss'

by Jena McGregor February 11 at 9:59 AM

Most of us just want a decent boss. Someone who doesn't take credit for our work. Who doesn't mind if we don't immediately respond to an email sent after 11 p.m. Who actually asks us every once in a while how we're doing.

But Dartmouth business school professor Sydney Finkelstein decided to study what he calls "Superbosses" -- leaders who not only get their people to achieve great things but go on to become great leaders themselves. In his new book by the same name, Finkelstein examines the leaders who sit at the top of coaching trees, who inspired a generation of new leaders in an industry, and who've helped people move on to do their own thing -- even if it means letting them go.

In the process, he examines the protégés and careers of leaders like legendary football coach Bill Walsh, who launched the careers of so many future NFL coaches; fast casual dining pioneer Norman Brinker, whose employees went on to found many similar restaurant joints; and fashion magnate Ralph Lauren, who helped along designers ranging from Joseph Abboud to Vera Wang.

But don't get the wrong idea, Finkelstein says: "superbosses" are not necessarily nice, generous mentors. Rather, they tend to be motivated by their own goals, whether it's to win, improve their legacy, or better their own work or their own art. We spoke with Finkelstein about what we can learn from these "talent spawners." The conversation has been edited for length and clarity.

How'd you come up with the idea for the book?

I’m really into food. All kinds of restaurants. There was an article I was reading that showed a graphic of a famous French chef -- I wish I could remember who it was -- which talked about all his sous chefs and former sous chefs. It graphed out this tree, of how everybody went on after a period of time and worked at all these other really great restaurants, who used to work for this great chef.

I thought 'that’s really kind of cool,' and I wondered whether that’s true anywhere else, so I started to poke around. I wanted to know who’s the best of the best, and that’s what got me to [Chez Panisse chef and founder] Alice Waters. The evidence is pretty overwhelming -- the number of chefs and bakers and restauranteurs who worked for her.

I'd also heard stories in the past about [former San Francisco 49ers] coach Bill Walsh, and how he had a lot of former assistant coaches that had become head coaches. It turned out to be an overwhelming number. For everyone else, there was considerably less.

Full article here.

"Hello! And Every Little Thing That Matters" - A Captivating CEO Trust Collaboration

Thu, 11 Feb 2016 00:42:24 GMT

On February 2, our NYC Chapter met & mingled with fellow CEOs as well as hospitality industry leaders & business owners at CEO Trust’s event "Hello! And Every Little Thing That Matters: Impactful Ideas for Treating Your Customers Right."

Speaker Kate Edwards, a 30-year veteran of the hospitality business, discussed her newly-published book and detailed how customer service can be your best friend, secret weapon, and brand ambassador all in one. How it can help drive sales while embodying your culture and vision, and how it can be a thoughtful, controllable representation of your brand that makes your business thrive.

Snacks were provided by Noreetuh, a modern Hawaiian restaurant in the East Village, and Chef Chung Chow offered a delicious assortment of his signature dishes. David Bowler Wines provided red & white wines, and the bar stocked a variety of beers. All CEO Trust guests were treated to their own complimentary copy of Kate’s book, which she signed and personalized for all. And a highlight of the evening was the give-away to one lucky winner of the breakout party game "Cards Against Humanity."

The event, attended by 50+, was hosted by Kate Edwards and held in collaboration with Journee at the stunning & stylish Journee Colab space in the heart of Flatiron. Founded in 2015, Journee is a members-only community made for the passionate people in food, beverage, and hospitality.

“Five (Effective) Ways to Build a Culture of Innovation” - An Insightful CT Chapter Event

Mon, 25 Jan 2016 22:51:39 GMT

By a CEO Trustee

On January 20th, members and invited guests of CEO Trust’s CT Chapter heard from innovation expert and best-selling author Bryan Mattimore on creating successful “cultures of innovation” within our companies. The creative, state-of-the art “incubator” space at Comradity in Stamford was the inspiring setting for the evening where we met & mingled with fellow CEOs over beer, wine & hors d’oeuvres during a reception before the program.

During his presentation, Bryan then offered a host of successful methodologies, strategies, and techniques for improving creative problem solving and increasing innovation within our companies and teams. Using examples and insights gained from over 200 successful innovation assignments over the past 16 years, Bryan shared what’s worked for his clients.

Three key innovation principles Bryan shared included:

You change the culture by innovating; you do not change the culture to innovate.
Involve people at all levels; invite the workforce to change the culture.
Ideas create energy, loyalty, excitement, and talent.

Bryan used real-world business cases to highlight major themes for successful innovation and culture change. One was: Find the right innovation tool, by working with the right internal and external teams, to address your needs and desires. It can be as simple as agreeing on what “good” looks like, to creating an idea generation and execution platform, to coming up with a new sales and growth strategy for your business.

We all also learned a fascinating, simple and yet very effective tool called “semantic intuition” that we can adapt to pretty much any business challenge. It's a a creative word combination technique that allows participants to come up with new ideas by combining several categories of key words to create a name for the new idea. Other ideation tools discussed included: positioning continuums, the whiteboard technique, war gaming, and disruptive innovation.

New connections were made and insights & strategies gained during this practical & applicable session on increasing innovation.

The NY Chapter of CEO Trust Enjoys Evening of Dinner & Conversation at NYU’s Torch Club

Tue, 19 Jan 2016 18:27:38 GMT

By a CEO Trustee

On January 11th, a frigid night in NYC, the NY Chapter of CEO Trust huddled together for dinner and stimulating conversation at the NYU Torch Club on Waverly Place in Greenwich Village. The Torch Club is a wonderful venue, generally only available to NYU faculty and Alumni. The evening had two main discussion topics. One was a great discussion on the human resource issues facing business in today’s rapidly changing environment. Discussion topics included:

How to instill and maintain an ethical culture in the workplace and the particular challenges of doing this with a mobile workforce;
Managing and motivating millennials;
Recruiting and retaining strong performers in an improving economy; and
A host of other HR challenges facing today’s C-Suite executives.

The second theme (and much more fun) was hearing from CEO Trust members on favorite restaurant recommendations. Here are a few: For those who awake in the middle of the night with a langoustine craving - Vilamoura, in Johannesburg, South Africa, is the place for you. Going to the theatre in NY and looking for a fun dining experience? You may want to try Café Un Deux Trois or DB Bistro. In London and craving Sushi? Try SushiSamba (also with locations in NYC and elsewhere). On the upper east side in NY and craving Sushi? Try Ko Sushi, or stay in the area for Mediterranean at Beyoglu. Planning to visit Philadelphia? You may want to try Osteria on North Broad Street or Lo Spiedo in the old Philadelphia Naval Yard (near the sports arenas).

The evening was a big success and we made sure everyone was home in time to watch Alabama and Clemson in the national college football championship. Thanks to all the participants and to CEO Trust for arranging a great event.

Dallas/Ft. Worth Chapter enjoys private event at Inwood Estates Winery

Wed, 16 Dec 2015 21:37:18 GMT

By CEO Trustee Event Chair

The Dallas/ Ft. Worth Chapter of CEO Trust enjoyed a private tasting and insider’s view of the science of wine and winemaking in Texas at Inwood Estates Winery. Dan & Spencer Gatlin, Inwood Estates’ founder & son, hosted us in their Dallas barrel room and provided fascinating insight into their history and the state of winemaking in general. The evening was a wonderful opportunity to not only learn about wine, but enjoy a glass (maybe a couple) while mingling with friends and fellow CEOs throughout the evening. Thank you to our host, Tribridge, for helping bring this event together and the wonderful spread of food that was so enjoyed!

Leadership Series in Philadelphia - Another great CEO Trust event with Congressman Mike Fitzpatrick

Mon, 16 Nov 2015 19:09:04 GMT

By a CEO Trustee

On Tuesday, November 10, members of the Philadelphia Chapter held an engaging and informative discussion with Congressman Mike Fitzpatrick. The Congressman shared his unique insights and perspectives on leadership and the challenges and issues faced in the current Congress.

He also gave an intriguing and insightful update on the current issues and events in the Nation's capital.

The Congressman is a member of the House Financial Services Committee and is vice chair of the Subcommittee on Oversight and Investigations. He plays a important role in the efforts of the Congress to combat terrorism.

While his comments were made prior to the tragic events in Paris, France, his advice and insights now resonate and take on greater meaning and significance. The Congressman shared his insights on the work of the Congress and Federal agencies to understand the flow of monies being used to finance terrorism. Cracking these financial networks is crucial to efforts to contain and combat terrorism.

The Congressman also reviewed his efforts to fight for stronger borders, lower taxes, smaller budget deficits, and his efforts to recognize the contributions of our deserving Veterans. He is clearly a strong voice and advocate in the Congress for business and for his constituents.

The Congressman responded to many questions from our members and our dialogue was relaxed, candid, and informative. The meeting was very engaging and productive and many thanks to the CEO Trust, Chuck Steege, and our host, the law firm of Stradley Ronon, for arranging another excellent event.

Directors Overcoming Bad Compensation Standards

Mon, 02 Nov 2015 20:11:18 GMT

By CEO Trustee Don Springer, President and CEO of The Colton Group, Inc.

Is ISS, and other governance watchdogs, leading us to mediocrity and sub-par shareholder returns?

Speaking at a recent NACD North Texas event, Marc Hodak, noted compensation advisor, teacher at NYU Stern School of Business, and CEO Trust member, promised we would hear something we had never heard and he completely fulfilled that promise.

Co-sponsored by CEO Trust and UT Dallas’ Institute for Excellence in Board Governance, the well attended event provided board directors an opportunity to hear the latest compensation research set in a context of expert and candid advice.

Marc organized extensive research in the field by asking and answering the following questions:

What is the value of equity to managers?
What is the value of management equity to investors?
What to do about “underwater options”?
How should incentives be awarded?

The research findings for each were startling, especially in the context of most board room compensation discussions today. Boards predominantly “benchmark” their compensation plans asking questions about their peers and ISS guidelines rather than asking key questions about how a plan would truly motivate revenue growth and cost improvements over the shareholders’ investment horizon.

Among the findings, companies with uncapped bonuses significantly outperform their industry peers and no research study has contradicted this. On the other end of the “incentive curve”, thresholds have stimulated extreme behavior to cross the line at best and scandals like Enron and WorldCom at worst. Additional research findings contradicted the standard practices of “non-performance” pay, handling underwater options, budget-based management incentive plans, and others.

Once the empirical data was established, Marc continued by providing a general framework for compensation plans that do, in fact, increase shareholder value and properly incentivize management, as well as the entire workforce. They hinge on single metrics such as net income, earnings, or EVA, and support longevity to reinforce profit building behavior.

Marc has elsewhere written, “In a world where every dollar denied to management is thought to be a dollar more in the shareholders’ pockets, the accumulated public company compensation requirements and standards make perfect sense. But in the real world, where costs must be intelligently traded off with retention risk and alignment, SEC requirements and ISS standards get in the way of well-intentioned boards.”

Focusing on standards at the exclusion of research data and market dynamics can lead to unproductive compensation plans. Marc also candidly added that focusing on proxy approval can create continuing engagements with many compensation consultants as the standards ebb and flow.

As directors in attendance, we recognized a need for incentives that truly promise rewards to drive behavior for the benefit of the shareholders. Now armed with new information, we will be wary of an advisor who merely monitors an ISS checklist for proxy support. Instead, we will prefer a research based compensation advisor to help guide the development of a value based plan.

CEO Trust Speaker Featured in Inc. Magazine

Fri, 30 Oct 2015 19:24:02 GMT

Bryan Mattimore, co-founder of the innovation agency Growth Engine and a CEO Trust speaker, was a featured expert in this recent Inc. Magazine article. Read on for some excellent productivity tips shared by Bryan and other experts in the field, and check out Bryan's upcoming CT Chapter event “Five (Effective) Ways to Build a Culture of Innovation” on January 20th.

IMAGE: Getty Images

30 Experts Share Their Best Productivity Tips

Which one of these 30 tips will help you get more work done today?

BY JOHN BRANDON Contributing editor, Inc.com

Want a boost for your day?

These productivity experts have each shared their best tip to give you a jumpstart. The time you invest in reading these will pay off in dividends as you apply the ideas to your daily routine. Do they work? Let me know by email if you find success.

1. My tip for office workers to be more productive is to focus on one thing at a time. You can still have more than one activity going on at the same time; but at the moment when you're doing one thing, focus and put all the other things aside. When you see people getting overwhelmed, flustered, and confused, it's because they are thinking about too many things at once. If you have a lot to do, do them all but do them all sequentially. A good analogy is when you go to the gym. You may have a whole routine you do, but when you're on one machine, you're not thinking about the others--you're thinking about the machine you're on, and then you move to the next and think about that machine, and so on. Work can be the same. And you'll do each job and all of them together better. --Jeff Stoller, business executive, entrepreneur, consultant, and author

2. Write down one or two things that you absolutely need to get done. If you're an entrepreneur/business owner, make sure that at least one of them revolves around something that will put more money in your pocket (directly or indirectly). Keep that paper on your person all day. Refer to it. Don't do other things until you can cross those one or two things off your list. --Adam Dailey, CEO of Funly Events

3. My innovation agency, Growth Engine, created The Whiteboard Technique, a kind of interactive suggestion box for employees. Managers simply post an organizational challenge on a whiteboard that is in a public place--such as the hallway, conference room, or cafeteria--and invite their co-workers to add suggestions/ideas to the whiteboard. After a week's time, the manager records (and then pursues) the best ideas/suggestions on the whiteboard. He or she then posts a new weekly challenge. It's easy to do, doesn't really cost anything, and it has created some huge productivity improvements/wins for our clients. --Bryan Mattimore, co-founder and "Chief Idea Guy" of Growth Engine and author of 21 Days to a Big Idea

Read full article online here.

"Working Effectively with Private Equity" - another great event in NYC

Fri, 16 Oct 2015 19:41:31 GMT

By a CEO Trustee (member)

On Tuesday, October 13, I attended "Working Effectively with Private Equity - What You need to Know" at the Marriott Marquis in NYC.

The event was very well attended by fellow Trustees and guests, refreshments and appetizers were excellent (thank you Ice Miller), and provided an excellent panel, composed of:

Lori Hess - Partner at L&E Partners (Executive Recruitment/Placement)
Michael Pfeffer - CEO Trustee and Co-Founder & Managing Director of Post Capital Partners (PE Firm)
Thomas S. Shattan - Principal at Shattan Mendel Enterprises (Merchant Bank)
Edward Braum - Partner, Ice Miller (Legal Counsel)

The panelist brought years of experience of working with or in private equity (PE) and was able to cover many topics. Some of the topics covered were:

Owners selling their company to PE; both full sale and partial sale of owners equity.
Engagement and role of bankers and advisors in the process of working with PE (as both buyer and seller)
The function/role executives seeking to work with and possibly partner with PE for regarding ideas/deals in an executive's industry. Including the possibility of executive becoming a retained sponsor for a PE firm to source deals in the executive's industry/area of expertise.
The vital importance of sellers due diligence on any potential private equity buyer of their company to ensure the best "fit" and alignment of interests.
Deal structure, particularly PE capital structure in acquired companies has grown more sophisticated and complex. These more complex structures can have a significant impact on the value of any remaining minority interest the sellers may maintain.
These more complex deal structure also impact executives equity participation/value upon sale of a PE owned company........executives should pay special attention to the PE company's capital structure and executive compensation plans.

The structure and pace of this event was excellent as the panel covered the myriad of subjects. The panel easily engaged all of us in the audience as there was great give and take from the many questions asked of the panel.

Many thanks to CEO Trust for organizing another great event, and a special thanks to the panel for making their time available for us.

“Courage: Unleashing Your True Potential” – An Inspiring Evening with the CT Chapter

Tue, 29 Sep 2015 20:51:31 GMT

By CEO Trustee, Robert Wolfe

It was a perfect evening and setting to join Jeremy Cage at the Wilson Cove Yacht Club on September 24 for the CT Chapter’s most recent event. During “Courage: Unleashing Your True Potential” Jeremy shared his adventures of sailing around the world with his wife and two young children and the life lessons he took from that experience. Approximately 15 CEO Trust members and guests enjoyed delicious appetizers, drinks, and a lovely sunset during a mingling reception on the club’s wraparound deck overlooking the marina. Afterward, all moved inside to the inviting clubhouse lounge for Jeremy's presentation.

Jeremy used his story to challenge all of us to be courageous and to follow our dreams as he had. He said that taking this step changed his life and gave him and his family great fulfillment and confidence to pursue other dreams.

During the interactive discussion, Jeremy shared the insights that allowed him to successfully plan and achieve his dream. One of his insights was to "dream specifically" (which is to say that the clearer you visualize your dream the more likely it will be successful), and to "dread vaguely" (which is to say you need to understand that most things keeping you from pursuing your dreams are not the insurmountable obstacles you first believe they are).

Jeremy noted that the lessons can be used to allow people and companies to become more creative, successful, and satisfied by unleashing their true potential. The session definitely gave us all great pause to think about our dreams and how to think and act differently in order to realize them.

Great Camaraderie & Conversation at NYC CEO Roundtable Dinner

Tue, 15 Sep 2015 21:07:53 GMT

By Bryan Mattimore

I attended my first CEO Roundtable Dinner at the Terrace Club in NYC on Wednesday, September 9th. I was pleased to have a seat at this sold out event with two full roundtables of CEOs.

I wasn’t quite sure what to expect, and I must say I was pleasantly surprised: it was one of the most enjoyable evenings I’ve spent in a long time. Yes the food was very good, and the venue was welcoming… but what made the meeting special for me was the evening format, the insights of my table mates, and the feeling of camaraderie – dare I say trust – that I know we all experienced.

After introductions, the facilitators asked us each to present a business challenge that our tablemates could help us “ideate” solutions for. The lively discussions included insights, ideas, strategies, and referrals to friends/experts who might help solve the particular challenge, which ranged from how to:

deal with the government regulations/penalties associated with Obama Care for a business that employs hourly workers
better organize and manage an international non-profit with three different governing/country-based boards
launch a new college student activity software for US colleges and administrators
attract new, younger readers to a formerly, print-only publication - and, in my case:
how to promote our strategic war gaming service that is becoming a larger part of our innovation agency offerings.

Yes, I got a great idea to promote our war gaming service… but it was even more fun for me to help others with their challenges.

Thank you, CEO Trust, for organizing and facilitating a memorable night that included delicious food, provocative intellectual challenges, great ideas… but above all, camaraderie.

CEO Trust Speaker, Shawn Achor, Explains How to Immunize Yourself Against Secondhand Stress

Thu, 03 Sep 2015 20:32:38 GMT

In his recent article for Harvard Business Review, CEO Trust speaker Shawn Achor gives tips for how to avoid “catching” others' negativity, stress, and uncertainty:

Make Yourself Immune to Secondhand Stress

By Shawn Achor and Michelle Gielan.

Over the past decade, we have learned how our brains are hardwired for emotional contagion. Emotions spread via a wireless network of mirror neurons, which are tiny parts of the brain that allow us to empathize with others and understand what they’re feeling. When you see someone yawn, mirror neurons can activate, making you yawn, in turn. Your brain picks up the fatigue response of someone sitting on the other side of the room. But it’s not just smiles and yawns that spread. We can pick up negativity, stress, and uncertainty like secondhand smoke. Researchers Howard Friedman and Ronald Riggio from the University of California, Riverside found that if someone in your visual field is anxious and highly expressive — either verbally or non-verbally — there’s a high likelihood you’ll experience those emotions as well, negatively impacting your brain’s performance.

Observing someone who is stressed — especially a coworker or family member — can have an immediate effect upon our own nervous systems. A separate group of researchers found that 26% of people showed elevated levels of cortisol just by observing someone who was stressed. Secondhand stress is much more contagious from a romantic partner (40%) than a stranger, but when observers watched a stressful event on video with strangers, 24% still showed a stress response. (This makes us question whether we, as happiness researchers, should watch Breaking Bad before going to sleep.)

When your taxi driver honks angrily, you can carry his anxiety all the way to work. When a boss hurriedly stalks into a room, you can pick up her stress as you try to present your ideas. Even bankers on trading floors separated by glass walls can pick up the panic of a person across the room working in a separate market just by seeing their nonverbals.

According to Heidi Hanna, a fellow at the American Institute of Stress and author of Stressaholic, secondhand stress is a result of our hardwired ability to perceive potential threats in our environment. She writes, “Most people have experienced spending time with someone who triggers a stress response just by walking in the door. This can be a conditioned response from previous interactions, but may also be an energetic communication delivered by very gentle shifts in bio-mechanical rhythms such as heart rate or breath rate.” The cues that cause secondhand stress can be very subtle changes in the people around us at work, yet they can have huge impacts.

Read full article here.

Welcome the CEO Pay Ratio

Wed, 12 Aug 2015 21:32:57 GMT

The CEO Pay Ratio mandated by Dodd-Frank is finally here. The rule sounds simple enough: Companies must disclose the ratio of their CEO’s pay to that of their median worker. Interesting information, perhaps, but the SEC supposedly exists for a more lofty purpose than mandating nice-to-know data. It must, by law, act in the interests of investors. In fact, the Administrative Procedures Act requires the SEC to “base . . . decisions on the best reasonably obtainable scientific, technical, economic, and other information concerning the need for, and consequences of, the intended regulation.” Read More

Robust Discussion at CEO Roundtable Breakfast

Mon, 22 Jun 2015 17:19:23 GMT

By Mark Spool - Friend of CEO Trust and Executive Coach at Management Development Solutions

The PA Chapter's CEO Roundtable Breakfast on June 16th was well attended and had a great discussion among its participants (CEOs and C-Suite executives of different industries). We started the discussion on how corporate culture impacts profitability, then moved into how strategy plays a key role in creating competitive advantage. Real examples helped explain key points made, and the level of openness promoted a robust discussion. The setting was great – a private room at the prestigious Old York Road Country Club in the Philadelphia suburbs.

Ticking Off the Sharks

Fri, 19 Jun 2015 19:40:47 GMT

Hey you out there: Just kidding

Let’s say that you hire a captain for your ship and for, say, tax reasons, decide that instead of running things from the bridge he should run things from the plank. You warn him that if anything goes wrong, he goes into the drink. But rough weather comes along, and you decide you still need him, so you don’t push him over the edge. At this point, you’ve hurt your credibility and pissed off the sharks. Read More

2015 April Job Cut Report from Challenger, Gray & Christmas: Cuts Surge to 3-Year High

Thu, 28 May 2015 18:24:58 GMT

By Challenger, Gray & Christmas, Inc.

Falling oil prices contributed to a 68 percent surge in job cuts last month, as US-based employers announced workforce reductions totaling 61,582 in April, up from 36,594 in March, according to the latest report on monthly layoffs released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

The April total was 53 percent higher than the same month a year ago, when 40,298 planned job cuts were recorded. It represents the highest monthly total since May 2012 (61,887) and the highest April total since 2009 (132,590).

Year to date, employers have announced 201,796 planned job cuts, which marks a 25 percent increase from the 161,639 layoffs tracked in the first four months of 2014. This is the largest four-month total since 2010.

Driving the increased pace of job cutting in April and for the year is the dramatic decline in oil prices, which is forcing producers and suppliers to cut production. Of the 61,582 job cut announced last month, 20,675 or 34 percent were directly attributed to oil prices.

For the year, oil prices were blamed for 68,285 job cuts, or about 34 percent of the 201,796 planned layoffs announced between January 1 and April 30.

“Schlumberger, Baker Hughes and Halliburton have all announced multiple rounds of job cuts in recent months, including April. The largest job cut of the month came from Schlumberger, which announced that it will shed 11,000 workers, in addition to the 9,000 laid off in January,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.

“The jobs that are most vulnerable are those in the field – engineers, oil rig operators, drill operators, refinery operators, etc. Managers and executives in the corporate offices are more secure, but the drop in oil prices is leading to increased merger activity, which could put more executives at risk of job loss,” said Challenger.

Read full report here.

Sky-High Elegance and Networking: CEO Trust/Concierge Auctions' Exclusive Event at Trump Soho NY

Fri, 22 May 2015 18:09:32 GMT

by Stephanie Grayson

Even with the luxury properties "going, going, GONE!", the excitement of last week's exclusive event still lingers, as do the connections made during the networking portion of the CEO Trust/Concierge Auctions special event that took place on May 14, 2015 in New York City.

With a stunning birds-eye panoramic view from 46 floors up as the backdrop, CEO Trust colleagues enjoyed an exclusive cocktail reception and luxury auction event at Trump Soho's SoHi room in Manhattan that was a blend of the traditional and the modern. Concierge Auctions' auction event combined live, in-person attendee bids hosted by an expert, old-school style auctioneer along with modern telecommunications staffed and equipped to accept offsite bids from prospective buyers who could call in with their offers for the luxury properties offered.

Auctioned properties included: a 46-acre oceanfront resort on Barbuda's western coast, a 13,600 s.f. oceanfront estate in coveted Princess Isle on Grand Bahama Island, and a breathtaking lakefront retreat in renowned Reynolds Plantation, Georgia.

The conversation and networking before and after the auction event was lively and animated, in between bites of elegant hors d'oeuvres, and wine and cocktails. One of the favorites from the bar was a unique concoction called, appropriately enough, "The Gavel".

Although with the final swing of the actual auctioneer gavel, the auction came to an end, the evening's reception continued as the reception-goers enjoyed the view and each other. Attendees agreed that the connections and memories made at the CEO Trust/Concierge Auctions event that night at Trump Soho will surely continue.

"From Battlefield to Business" Inspires in NYC

Mon, 04 May 2015 18:12:12 GMT

We had a terrific gathering at the Union League of NYC on April 20th learning about lessons from the recent conflicts in Iraq and Afghanistan, how to capitalize on the very unique talent of our veterans, and how to better support those who were wounded with jobs and housing. The CEO Trust's own, John Connolly led the discussion, followed by Major General (retired) Tim McHale, CEO of Homes for Our Troops, and Luke Murphy, a wounded combat veteran. It was both inspirational and helpful as CEOs look for ways to bring vets into the workforce, particularly those with disabilities.

Feedback has been overwhelmingly positive, with attendees commenting:

"Excellent event to gain a better awareness of the opportunities and sensitivities required to successfully onboard a wounded vet into our organizations. We often forget the sacrifices that these young men and women make for our country. It is nice to be reminded and to understand what is, and can be, done to support them as they return to civilian life."

"Thank you... I was privileged to learn from Tim in more detail about Homes for our Troops and from Luke his personal story and extraordinary accomplishments. Your stories and work are profound; thank you again for your ongoing service to and example for veterans with disabilities."

"This was a wonderful evening and event. Very well organized, excellent speakers and interesting attendees. It was also an opportunity to shed even more light on a wonderful cause."

"Touched, moved, and inspired."

Thanks to Tribridge for hosting at the historic Union League.

- CEO Trustee Event Chair

Brewery tour, talk & tasting at Two Roads Brewing Co.

Thu, 30 Apr 2015 17:11:28 GMT

New friendships were made, and a few brain cells lost during the Brewery Tour, Talk & Tasting at Two Roads Brewing Co. in Stratford, CT on April 29th.

Led by Two Roads Founder, Brad Hittle the CEO trustees and their guests got a "deep dive" into the business of beer and the challenges of building both a custom state-of-the-art facility and a unique beverage brand from concept to production in well under a year.

Cheers to all who attended with special Thanks to Cathy Curley who ensured that everyone was well fed and the beer kept flowing.

- CEO Trustee Event Chair

Awesome CEO Trustee Event with the Philadelphia Phillies

Thu, 30 Apr 2015 16:03:19 GMT

Thanks to all the trustees and guests who attended the Leadership Event with the Philadelphia Phillies on April 15th at Citizens Bank Park. It was a very enjoyable morning.

The group received a very informative talk by Phil Clemens, retired CEO and current-Chairman of Clemens Family Corporation about the long and interesting sponsorship by CFC/Hatfield Quality Meats. Phil covered a wide range of topics ranging from measuring ROI on a professional sports sponsorship to his personal philosophies on leadership and the unique aspects of running a 120-year-old privately held, family-managed company. Phil's favorite part of leadership: being a "coach".

We also heard from Mike Ondo, the Phillies Director of Pro Scouting. Mike had plenty of interesting insights on the running of a professional baseball team's scouting division. Mike also spoke about the recent history of the Phillies and a little on their approach to returning to winning ways.

A good time was had by all!

- CEO Trustee Event Chair

How Post-vesting Periods Play Havoc with Unplanned Retirement

Tue, 07 Apr 2015 16:39:38 GMT

Eileen is well prepared for retirement – but not quite yet. The general counsel for a public company had planned for retirement at age 65. New post-vesting holding period rules are colliding with the prospect of using her performance shares for an unplanned retirement.

To learn more about post-vesting holding periods and how to consider and address their impact on your retirement timeline, read the full article by SFG Wealth Planning Services here.

Relocation on the Rise

Tue, 31 Mar 2015 18:53:02 GMT

By Challenger, Gray & Christmas, Inc.

The percentage of job seekers relocating for new positions in the last half of 2014 rose to its highest level in five years, which should be good news to the growing number of employers that may find their local talent pool getting shallower as unemployment rates continue to fall around the country.

An average of 15 percent of job-seeking managers and executives moved for new positions over the last two quarters of 2014. That was up from an average of 11.4 percent in the first two quarters of the year. In 2013, the relocation rate among job seekers averaged 13 percent.

The latest relocation rate, which is based on Challenger’s quarterly survey of approximately 1,000 job seekers, is the highest it has been since the first half of 2009, when an average of 16.3 percent of job seekers moved in the immediate wake of the recession.

“Ongoing improvements in the employment and housing markets are undoubtedly making relocation a more palatable option for managers and executives in transition,” said John A. Challenger, chief executive officer.

Relocation activity plunged after the first half of 2009 as home values continued to decline, which made it very difficult to sell an existing home without taking a significant loss.

“Relocation is rarely the most desirable option for job seekers. There is a lot of cost and risk involved. The collapse in the housing market, which was a primary factor behind the recession, made relocation even more unattractive, as many job seekers were stuck in homes with market values well below what was owed on the mortgage.

At the same time, employers were unwilling to help pay for any relocation costs, much less cover the likely loss in home value, due to their own recession-related cost-cutting initiatives. Starting in 2013, we saw a rebound in home buying and home prices. That trend continued in 2014, leading to the upturn in relocation among job seekers,” said Challenger.

Read full report here.

NY: Talk at Baruch Examines Utopian Communities and CSR

Mon, 23 Mar 2015 14:58:41 GMT

Recently, NY Chapter member Marc Hodak, Managing Partner at Hodak Value Advisors and Adjunct Professor at NYU Stern School of Business, delivered a wonderful talk about corporate social responsibility (CSR), set against utopian communities in the industrializing U.S. These communities each had shared aspirations, and distinctive--sometimes unorthodox--visions. They all failed to to varying degrees, and their failures yield important lessons for modern businesses hoping to do well by doing good. Hodak also highlighted some successes by somewhat more modest reformers, such as the profit sharing program launched inside P&G in the 1880s, which lasts to this day, and has been widely copied.

As always, the content of the talk was as stimulating as the networking opportunities before and afterwards. Baruch students and faculty joined CEO Trustees and their guests. The new faces smiled throughout the program, so I look forward to seeing them again as members.

- CEO Trustee, Aaron Mandelbaum - Founder of Icebreaker Consulting

CT Chapter Gains Insight Into Technology Risks

Tue, 17 Mar 2015 17:10:08 GMT

CEO Trust's CT Chapter recently heard from a panel of experts about technology risks facing our companies today. Event Chair, Joe Tait, CIO of Lydall, Inc. had this to say:

We had a great event last week in CT called “Technology Breaches – Is Your Business at Risk?”. The meeting was well attended and based on the comments (and the news of course) this is the sort of thing that we should probably schedule on an annual basis. We had nice mixture of trustees/guests and a panel consisting of IT Security vendors and two attorneys with different areas of focus. Among the comments were:

· I really enjoyed the evening. The speakers were great, the conversation intriguing and there was plenty of interaction. It helps that the subject is, or should be, at the forefront of everyone's mind.

· Great event - keep them coming!

· The discussion and different viewpoints were enlightening and very interesting.

· The subject matter and interaction was very good. A good subject that we can all relate to.

Squeezing the Balloon Once More, and Expecting a Different Outcome

Fri, 20 Feb 2015 15:57:28 GMT

Americans seemed, at least for now, to have reached their saturation point on direct wealth redistribution. So for those who still feel we have more redistribution to do, they are trying via the tax code. A Democratic congressman has proposed to penalize executive pay if the company “fails [the] test of pay fairness.” Specifically, if a public company fails to raise the average pay of its workers making less than $115,000 by a percentage equal to the overall US growth in productivity plus inflation, the government will eliminate the deductibility of top executive compensation above $1 million. What could go wrong? Read More

CEO Trust Speaker Shawn Achor on How Happiness Breeds Happiness

Wed, 04 Feb 2015 00:22:10 GMT

CEO Trust speaker Shawn Achor spoke recently about how "Happiness Breeds Happiness" as the opening keynote for the Ultimate Software User Conference. Shawn's research is focused on happiness, its generation, and its use as a competitive advantage. Key elements of Shawn's talk included:

Reality is caused by the way you view it. Not by the way it is.
Emotional tone is contagious.
Habits of thought persist.
It’s important to change the way you think on a regular basis (and hard to do).
Happiness is a choice and not a choice.
By choosing to be happy, you can increase the happiness of others.
The best way to change someone else is by changing yourself.

After spending twelve years at Harvard University, Shawn has become one of the world’s leading experts on the connection between happiness and success. His research on happiness made the cover of Harvard Business Review, and his TED talk, "The Happy Secret to Better Work," is one of the most popular of all time. Shawn has worked with over a third of the Fortune 100 companies, and lectured in more than 50 countries. Shawn is the author of New York Times best-selling books The Happiness Advantage.

Read full article here.

Innovation Insight with Gary Cohen and Heather Marasse

Mon, 17 Nov 2014 18:37:38 GMT

On Tuesday, November 11, CEO Trust's NYC Chapter was fortunate to share in the insights, experience, creativity, and wisdom of Gary Cohen, most recently global CEO of Timex and a consumer products veteran, and Heather Marasse, Managing Partner of Generative Leadership Group (GLG), a leading innovation consulting firm. Gary and Heather have partnered at Gillette, Playtex, and Timex to help launch dozens of successful innovation programs. Here are some of the highlights:

Consider the intersection of human systems with the business systems we routinely manage. The challenges with innovation are culturally based, and rest often in being too dependent on what we know.
Get past the need to be knowledgeable. Judging and evaluation too early in the process, and intolerance of mistakes, are pitfalls to taking an innovative and creative approach to business problem solving.
Think about how to establish a vision for the future to remove barriers. The vision can be at the team level inside the business. Possibility versus certainty is the key to developing a vision that will result in immediate action. Only an hour or so is needed to develop a compelling and actionable vision for the future.
Create a climate for generous listening and true communication. Since large companies have a gravitational pull to the past, this can be challenging.
Embrace conversations that produce results through possibility, relationship, opportunity, action, and completion. Remember, conversation has a design.
Celebrate early and often. It is the acknowledgement and communication of small but important wins that will ensure a cycle of innovation and success.
Ask - what can we try first? Some things cannot be known until you try them.
Declare your future! This is the key to innovation.

Former MetLife CEO, Rob Henrikson, Addresses CT Chapter

Mon, 03 Nov 2014 21:47:01 GMT

Our CT Chapter welcomed Rob Henrikson, former chairman of the board, president and CEO of MetLife, Inc., for our Leadership Series event on October 22nd in Darien. After catching up with colleagues over a lively wine & cheese reception, CEO Trustees & invited guests settled in for an informal and engaging talk from Rob, who shared with the group his experiences, anecdotes, and lessons learned from his nearly 40 years with Metlife, the largest life insurer in the U.S. and provider to more than 90 million customers in over 50 countries.

Rob disclosed that his journey with MetLife began in 1972 when, fresh out of law school at Emory, he joined as a life insurance agent in Atlanta. Through the 70s & 80s, he served in roles with increasing responsibility in the company’s pension business in Atlanta, Chicago and New York. Attendees learned about some of Rob’s biggest business challenges and accomplishments over the years and throughout his various senior executive positions with MetLife, including president and COO. Interestingly, Rob is the first MetLife agent in the company’s 142-year history who went on to become CEO, a role he assumed in 2006 and kept until 2011.

Trustees & invited guests came away with an insider's perspective of MetLife from during it's most interesting phase of history.

NY Chapter Enjoys A Unique and Engaging Discussion with Vivek Tiwary

Wed, 01 Oct 2014 16:02:47 GMT

Our NY Chapter was fortunate enough to have guest speaker, Vivek J. Tiwary, a multi-TONY award winning producer, and New York Times Best Selling Author of the graphic novel The Fifth Beatle. Vivek shared expert insight into the business of the legendary group The Beatles, through narrative regarding his historical mentor, and manager of The Beatles, Brian Epstein. Vivek provided commentary of business lessons that could be derived from the The Beatles and how they translated to modern day business practices.

It was quite evident that Vivek's discussion was thoroughly enjoyed by all. I believe our Trustees were highly engaged, and loved the unique subject matter, as it resonated with many of them on a personal and cultural level. Vivek's passion and enthusiasm was noted by many of our Trustees, who were very receptive to learn about his other successes and upcoming projects. Vivek was a great speaker, and I would love to have him back at some future point.

A special thank you to Joan Caruso and The Ayers Group for being gracious hosts!

- Justin Melia, Event Chair, Founder and CEO, RMC Venture Group

UTOPIA - The TV Show

Tue, 16 Sep 2014 12:21:20 GMT

Fox, in the kind of an understatement we have come to expect in the marketing of reality TV, is billing its new fall series “Utopia” as “television’s biggest, boldest social experiment.” The show’s premise taps into the age-old dream of creating a perfect society. This dream burns particularly brightly in the treasured eighteen to thirty-four year-old demographic, marinated in the you-can-do-anything ethos. These are the very folks who would ask: Can a group of random strangers actually create a perfect society? No, they can’t. Read More

ISS vs. NUCOR'S GHOST

Tue, 16 Sep 2014 12:10:51 GMT

Just published in Directors & Boards. The summary:

Nucor's classic incentive plan contained three elements:

1) a fixed share of profit growth ...

2) ... without limit

3) annual grant of standard stock options

The company was enormously successful because of this plan. It looks like everything that shareholders care about is imbedded in this plan. Empirical evidence strongly supports these plan elements as being good for shareholders. Yet none of them would pass muster with ISS today. Read More

CT Event: An Evening of Live Theater - Success!

Thu, 28 Aug 2014 21:00:34 GMT

A fun and entertaining evening of live theater was enjoyed by our CT Chapter at the Westport Country Playhouse on August 20. We had a great member turnout and the evening began with some lively discussion and mingling amongst the members and their guests. That was followed by a very interesting discussion by Michael Ross the Managing Director of the Westport Country Playhouse who educated and entertained the group on the history of the Playhouse and the intricacies of the theater business. Michael was gracious, fun and a wonderful host to our Chapter.

Michael's discussion was followed by a viewing of the play "The Things We Do For Love" in only its second night of production. It was a funny and sometimes tragic depiction of a love triangle that was performed exceptionally well and was very entertaining. I think we all had a good time and it was very nice to share the experience with our spouses and guests. A special thanks to Craig Rebecca Schiavone for arranging this event.

- CEO Trustee & CT Program Chair, Michael Pellegrino

Are performance options attractive when considering a new position?

Tue, 29 Jul 2014 20:55:52 GMT

http://www.sfgadvisors.com/blog/2014/07/performance-options-and-financial-parity/

Grit and determination and a long career in consumer solutions have led Gwen to her current role as president of a high-end fashion retail company.* Two retail companies are now courting Gwen for the CEO position she’s been tracking toward for years. While the offers present similar salaries, one offers significant wealth potential through performance-based stock awards.

Can Gwen use these performance options to accumulate the wealth needed for retirement and a second career pursuing her humanitarian ventures?

Performance-based equity awards have continued to gain prominence as company boards seek to align compensation with executive performance. The compensation advisor The Hay Group surveyed 300 companies in the top 500, and found that 51% are incentivizing executives today using performance awards tied to the strategic goals of the firm. While time-based stock option awards have declined, performance options are nonqualified stock options linked to performance. Usually the awards are tied to earnings per share targets or certain stock price conditions. They vest when the metric has been satisfied; thus they are referred to as “performance-earned” options. Once vested, an executive can exercise and sell them right away.

Gwen sought our help in understanding how these performance options work, and whether the performance metrics could reasonably be met in order to benefit from the award. She determined that the offer from the company utilizing performance options was superior and would accelerate her plans to eventually run a nonprofit serving humanitarian goals.

If you are evaluating offers and need help comparing parity, it is important to understand the value of the awards, the terms of the performance target, tax treatment and how the likely outcome compares with other forms of executive compensation.

For more information, please contact us.

* The name, likeness and circumstances in this example are a fictional composite of facts from executives similar to actual SFG Clients.

Mr. Steege is President of SFG Wealth Planning Services, Inc., SFG Investment Advisors, Inc. (SFG), a fee-only financial planning firm. Founded 20 years ago, SFG is dedicated to assisting senior executives and their employees with their complex stock-based compensation and planning challenges

The Last Refuge of Scoundrels

Thu, 17 Jul 2014 01:22:22 GMT

It used to be said that patriotism was the last refuge of scoundrels. Now that patriotism is being viewed with more irony than honor among a certain portion of Americans, I think the “last refuge” has become the bashing of “fat cats.” My evidence is a recent spate of articles on how President Obama, who is polling rather poorly these days, is once again going after Wall Street bonuses. There is no surer way to get heads nodding again when you speak. I nod, too, but for a different reason. Read More

CT Chapter Enjoys Unique, Interactive Seminar on Influential Negotiation

Fri, 13 Jun 2014 19:17:14 GMT

On June 11, our CT Chapter participated in a 90-minute interactive seminar on the science of Influential Negotiation. Four attendee volunteers had the opportunity to hone their business negotiation skills during a live mock negotiation session based upon a provided study/scenario. Following the negotiation simulation, presenters Jane Dolente and Jack DeBardeleben of The Skilled Negotiator facilitated an engaging group discussion regarding the 13 essential behaviors utilized by skilled negotiators. Each volunteer received a personalized, quantitative analysis of their use of these identified behaviors, along with qualitative feedback from fellow attendees.

CEO Trustee Mike Pellegrino, CIO of The Sun Products Corporation, participated in the mock negotiation and shared, “I liked the program - it was engaging, fun and thought-provoking. Jack and Jane were really good and did a very good job of working with everyone to experience negotiating via a simulation exercise. Everyone was engaged in the discussion due to the scenario-play type of presentation they did, and it fostered good conversation and feedback. Well done."

Attendee Llew Smith, CEO Trustee and Managing Partner of The Office Suites of Darien, added “Negotiating is a learned skill. The Skilled Negotiator system was helpful in that it added a way to measure the skill areas that make up most successful negotiations and relationships.”

CEO Trust Speaker Co-Authors "How Boards Can Innovate”

Wed, 28 May 2014 23:34:30 GMT

CEO Trust speaker Michael Useem recently co-authored a piece for the Harvard Business Review. “How Boards Can Innovate” proposes that boards should be at the forefront of corporate transformations, not resistant to them, and gives examples of successful, innovative companies with equally innovative boards.

Michael Useem is Professor of Management and Director of the Center for Leadership and Change at Wharton School, University of Pennsylvania. He is also author of The Leader’s Checklist and co-author of Boards That Lead: When to Take Charge, When to Partner, and When to Stay Out of the Way.

CEO Trust Speaker Shawn Achor Appears with Oprah

Tue, 27 May 2014 13:29:30 GMT

CEO Trust speaker, Harvard-trained researcher and author Shawn Achor was featured recently on a Super Soul Sunday episode with Oprah Winfrey. In his appearance, he explains how sending one simple email a day, for 21 days, has been proven to increase happiness and may even extend your life. "Write a two-minute email, or tweet, or Facebook message, or text message praising or thanking one person you know," Achor says. "It's so simple. Two minutes. It's usually two or three sentences, and you do a different person for 21 days." Phone calls or face-to-face contact is even better.

Shawn researches and teaches about positive psychology. He's one of the world's leading experts on the connection between happiness & success, and his TED talk is one of the most popular all time with over 3.8 million views.

NYC & CT Events Explore the Intersection of Neuroscience and Business Strategy

Wed, 21 May 2014 23:36:19 GMT

In her exclusive presentations for CEO Trust's NYC & CT Chapters recently, Nora Simpson, CEO at Simpson Strategic Solutions, revealed the simple, tangible ingredients that have created catalytic results for companies in more than 15 industries. Nora's proprietary methodology, more than a decade in development, combines neuroscience and business strategy to help companies significantly increase revenues in six to twelve months.

Following a review of the four processing modes of the central nervous system - including the pros, cons, pitfalls, and strategies for survival of each - Nora presented case studies demonstrating how her methodology has helped companies and individuals alike identify their core processing modes, transform issues, and propel their businesses toward explosive growth.

A dynamic and interactive presenter, Nora actively engaged the audience in considering which processing modes are at play in their own lives & businesses, challenged them to examine their primary road blocks to success, and make changes to increase personal & professional profitability.

CEO Trust's "Digital and Social Media Tips & Tricks" Event Refreshing and Impressive

Mon, 19 May 2014 18:25:54 GMT

Having recently attended CEO Trust’s NYC Chapter event “Digital and Social Media Tips and Tricks” with Sree Sreenivasan, the first Chief Digital Officer for the Metropolitan Museum of Art, I came away from his presentation quite impressed with not only his enthusiasm and passion for technology and social media, but also his ability to captivate a room of executives, regardless of their technological knowledge. Sree's expertise was quite apparent, and I left his presentation with "homework" and tangible ideas to immediately implement to help propel my business forward. On both a macro and micro level, Sree's straightforward and engaging approach was refreshing, and his subject matters clearly resonated with nearly every attendee, as evidenced by the overwhelming number of questions and insights received throughout his presentation. Sree covered a wide array of topics, reinforcing the importance of social media, and the necessity for businesses to establish and maintain a focus on social media as an integral part of their marketing and branding efforts. With their interests piqued, at the conclusion of the presentation, you could merely look around and easily see other attendees yearning for more.

-- Justin Melia, Founder and CEO, RMC Venture Group

PA Chapter's CEO Roundtable - One of the Best Yet

Wed, 07 May 2014 12:48:21 GMT

The CEO Trust PA Chapter Roundtable on May 6th was one of the best yet. CEOs representing both public and private equity organizations were represented ranging from the chemical industry, manufacturing, pharmaceutical distribution, technology, to consumer automotive. The discussion, led by our own RJ Juliano, prompted a series of relevant questions ranging from team development, identifying high potentials, vertical communication from and to senior leadership, employee demographics, an ever increasing diverse workforce, communication styles, social media, work life balance, and reverse mentoring. Increasingly, CEOs and business leaders crave robust dialogue and exchange of ideas which help propel their organizations toward excellence. This CEO Roundtable delivered! If you haven't yet attended such an event, we strongly encourage you to do so in the future. You won't be disappointed.

Mr. Steege is President of SFG Wealth Planning Services, Inc., SFG Investment Advisors, Inc. (SFG), a fee only financial planning firm. Founded 20 years ago, SFG is dedicated to assisting senior executives and their employees with their complex stock-based compensation and planning challenges.

Condolences to All Who Knew Robert J. Lee

Fri, 18 Apr 2014 23:37:58 GMT

On Wednesday, April 16 Bob Lee passed away. This is sad news and a significant loss. He was a pioneer in coaching, a founder of Lee Hecht Harrison, author of multiple books, with a long list of accomplishments. But he was also a compassionate, warm and engaging individual. I appreciate that he was my colleague, mentor and a friend of the CEO Trust. He left a legacy with each of us who knew him and particularly with those of us who benefited from his training or coaching. For more information: Bob Lee Obituary. My condolences to Bob's family, friends and all who knew him.

Outthink the Competition Webinar

Thu, 03 Apr 2014 13:00:07 GMT

If you weren’t able to attend the recent CEO Trust Webinar: Outthink the Competition presented by Mr. Kaihan Krippendorff, you really must visit the CEO Trust website for its replay.

"Outthinkers" are entrepreneurs and corporate managers with a new playbook. Outthinkers see opportunities others ignore, challenge dogma others accept as truth, rally resources others cannot influence, and unleash new strategies that disrupt their markets. Business competition is undergoing a fundamental paradigm shift and you will want insight into that revolution. During the recent CEO Trust webinar, Mr. Kaihan Krippendorff (business strategist and popular Fast Company blogger) illustrated stories of businesses whose stunning performances defy traditional explanation and informed and inspired how to outthink the competition. Core concepts included: Discover the Eight Dimensions of Disruption, Play by the Outthinker Playbook, Adopt Five Habits of the Outthinker, Implement the Outthinker Process.

“Everyone’s In Sales: Building a Successful Sales Culture” a Hit in CT

Wed, 02 Apr 2014 23:42:55 GMT

On March 19^th in Darien, CEO Trustees and guests were treated to an engaging & informative presentation by author and dynamic keynote speaker Todd Cohen of Sales Leader LLC. “Everyone’s In Sales: Building a Successful Sales Culture” took place at the stately Darien Community Association and was chaired by CEO Trustee Joe Tait, CIO of Lydall, Inc., who made opening comments and introduced our speaker. With colorful anecdotes and real-world examples, Todd highlighted how to create sales culture, develop a professional Value Proposition, define your Virtual Sales Team™, and leverage your Relationship Portability Index™.

Salient points from his Sales Culture Presentation included:

Everyone is in sales and every single conversation is a selling moment.
Building a sales culture costs nothing. You don’t need to do anything different, but you need to think differently about what you do.
When someone asks “what do you do?” what they are really asking for is your “Value Proposition.” In other words, “how does what you do impact your customer’s decision to say ‘yes’?” and “why should I engage with you?” Important components of a quality Value Proposition include:
- It should not contain your working title
- It should be 6 words or less
- It must be agnostic; in other words, it must be about you specifically, not your company
Five Steps to Creating a Strong Sales Culture

Keep Sales TRANSPARENT – Every person in the organization should have a view into the customer, not just the sales team.
Know how YOU impact the customer – Understand how what YOU do makes your customer say “yes.”
Know how OTHERS in your organization impact the customer – Understand how what THEY do makes your customer say “yes.”
Show others how they impact the customer – Help demonstrate to all others in your organization that they are in sales also. Help them see how what they do matters and helps the customer say “yes.”
Monetize “I don’t know what I don’t know” – Everyone in your organization has unique expertise. Be willing to lean on others for their knowledge and experience.

Building your Virtual Sales Team is about moving your connections up through the ladder of Relationship Portability. All of your connections are in one of these stages:

Reliable & available – contacts who know you and understand your Value Proposition. This is where you want to move as many of your contacts as possible.
Available but not reliable – these contacts may or may not get back to you when you reach out
Neither reliable nor available – these are people who do not see you as part their business in any way
Non existent – these are the people you have not yet met, but can quickly move to reliable & available once you connect with them

Throughout the evening, Todd shared information, ideas, and best practices for building sales culture drawing on his research, expertise, and experience with individuals, teams, and corporations. All on hand came away with concrete strategies for best selling themselves and their organizations.

Satya Nadella’s Challenges as Microsoft’s New CEO

Tue, 11 Feb 2014 19:27:26 GMT

Michael Useem, previous CEO Trust speaker, Wharton management professor and director of the school’s Center for Leadership and Change Management, recently posted a blog highlighting what he considers the biggest leadership insight from the Nadella appointment: “Unequivocally, the enormous interest in who is going to run Microsoft is indicative of how much of an impact one great CEO, or conversely a not-great CEO, can have on the fortunes of the company. Leadership, and how much difference it makes, is the vital point here," says Useem.

Workplace of the Future

Mon, 10 Feb 2014 19:28:06 GMT

Just attended the Phila area roundtable discussion on Workplace of the Future, over 25 Chief/Senior Human Resource Officers discussed the concerns of today’s graduates and our current work force. Discussing the values and importance of technology, wellness programs and work environments.

-- George Zauflik, CEO Trustee, SVP Compliance and Government Relations, Cardone Industries

Chuck Steege: Healthy enough to work, wealthy enough to retire?

Mon, 10 Feb 2014 14:06:36 GMT

In a recent blog by CEO Trust Alliance Chuck Steege, president of SFG Wealth Planning Services, Inc., using an example based on his clients, addresses some of the questions regarding retirement and whether an individual has reached the point of financial independence. Deciding when to retire may be one of the biggest financial decisions we face.

Your Personality Makes Your Politics

Tue, 14 Jan 2014 21:55:56 GMT

In a fascinating article for Time Magazine Online, Dr. Jonathan Haidt, Author, NYU Stern Professor, TED Speaker, and previous CEO Trust speaker, discusses how your values, moral beliefs, and lifestyle are accurate determiners of your political affiliation. Read the full article online and take Time's personality quiz to see how accurately your personality predicts your political beliefs.

EisnerAmper: Considering Your Financing Options When Your End Goal is an IPO

Tue, 17 Dec 2013 00:49:49 GMT

EisnerAmper's recent blog says that as a company grows, there is often a need for capital. Many business owners want to know whether certain financing options can impede their ability to go public. They suggest to carefully consider all financing options as you raise capital. Watch for the pitfalls of giving away too much control or ownership, and be careful not to adversely affect the future valuation of your company.

Art Drucker, Partner, EisnerAmper and CEO Trust Strategic Alliance

An Exciting CEO Trust Celebration at Madison Square Garden

Tue, 17 Dec 2013 00:48:08 GMT

Two luxurious Signature Suites at the newly-renovated Madison Square Garden set the first-class tone for our NYC Chapter Celebration on December 7th. Throughout the evening, CEO Trustees, spouses, significant others, and invited guests enjoyed the camaraderie of fellow CEOs, plentiful drinks & hors d’oeuvres, and an exciting Devils vs. Rangers hockey match-up. Our members and guests all shared what an wonderful & memorable evening they had catching up with friends and meeting interesting new colleagues.

Upon arrival at the Garden’s 9th floor Signature Suites lobby, guests found themselves surrounded by sports & music memorabilia from some of the most legendary Garden events. Inside the luxury suites, comfortable leather chairs, plush oversized stadium seating, a granite-topped bar with bar stools, and other top-notch appointments greeted guests. A tasty buffet prepared by MSG’s signature chefs included assorted sushi & sashimi, Sicilian croquettes, chicken tenders with dipping sauces, fresh assorted fruit, chocolate-covered jumbo strawberries, and more.

New CEO Trustee Carol Robbins was the lucky winner of our door prize, a $100 gift card from Macy’s. Dwayne Pechet, Practice Manager at CEO Trust’s alliance partner TriBridge, was on hand to present Carol with her prize, which was generously provided by TriBridge. Of course, the highlight of the evening was the exciting cross-river hockey rivalry playing out on the ice below. Though the suites were filled with Rangers and Devils fans alike, the Devil fans emerged triumphant. After losing their lead in the final seconds of regulation play, the Devils scored in exciting fashion on a power play 1:15 into overtime, lifting them to a 4-3 win over the Rangers.

Regardless of the game outcome, all attendees enjoyed a fabulous evening, catching up with old friends and making some new ones.

Click here for photos of our evening at the Garden

'HR vs HR': The Battle Over Talent Management with Marc Effron

Wed, 11 Dec 2013 19:29:13 GMT

Human Resources Executive Online In a recent blog that appeared on Human Resources Executive Online, Marc Effron, president of The Talent Strategy Group, and previous CEO Trust speaker, is highlighted for his pointers on the Insights portion of his website devoted to talent management. "Talent-management practices are too important to our organizations to let them be destroyed by friendly fire," says Effron.

Ten Ways to Boost Your LinkedIn Profile, with Neal Schaffer, previous CEO Trust speaker

Mon, 02 Dec 2013 19:29:54 GMT

In a recent blog posted by Neal Schaffer, founder of Maximize Social Business and previous CEO Trust speaker, the 10 best practices for boosting the effectiveness of your LinkedIn efforts are highlighted. LinkedIn remains the dominant social networking tool for professionals.

Tribridge: How secure are your passwords?

Wed, 27 Nov 2013 19:30:39 GMT

A recent Tribridge blog explains why many security researchers now recommend using 18-character alpha numeric, non-complex passwords. Lengthy non-complex passwords may seem complicated but they can be easier to remember than complex passwords. Use a familiar phrase or sentence. Using familiar phrases as passwords can even reduce the number of help desk calls for password resets.

SFG Wealth Planning Services: Lighten Up! Plan Your Open Window

Wed, 27 Nov 2013 14:10:38 GMT

A recent blog by SFG Wealth Planning Services shares A Smart Strategy: Adopting a written plan for selling company securities can be an affirmative defense against trading on material nonpublic information. You need to be sure your plan for selling company stock meets with current SEC standards and aligns with shareholder interests. Planned trading programs, also known as rule 10b5-1 trading plans, can be put in place to facilitate systematic sales.

Connecticut Chapter Examines How to Manage Technology Risks

Wed, 27 Nov 2013 00:55:36 GMT

On November 18th, I had the pleasure of moderating a fantastic panel on “Evaluating & Managing the Ever-Changing Landscape of Technology Risk.” Our expert speakers included:

Neal Maguire – Investigations Manager, Verizon RISK Team
Augusto Russell – Partner, May, Bonee & Walsh
Michael W. Wanik - Director, Corporate Security, United Therapeutics

We discussed and learned quite a bit about some strange and scary terms like Phishing, Pre-texting, Trojan Horse, Malware, Social Engineering, Keystroke Loggers, Spyware and Worms… Lots of new things to be worried about that seem to change all the time. Our speakers were incredibly knowledgeable and informative, helping attendees separate the hype from what is real. They offered great advice appropriate for keeping any sized business safe, and shared useful Data Loss Prevention guidelines, which we’ve added to our member website Library for reference. Handouts included “How to Secure Your Company's Most Sensitive Data,” and “Protecting IP Data from Loss and Theft: The Shortest Path to Prevention and Risk Reduction.”

Stay safe… and enjoy!

-- Joe Tait, CEO Trustee - CIO, Lydall, Event Chair, and Founding Philadelphia Chapter Member

Fullscreen Launches Sign In

Mon, 25 Nov 2013 14:45:54 GMT

George Strompolos, CEO and founder of Fullscreen, and a previous CEO Trust speaker, is quoted in an article on 4-Traders.com, regarding a new single sign-on feature that unlocks VIP access and benefits with game-changing creative services. "With the launch of Sign In with Fullscreen, we can seamlessly integrate into the Fullscreen Creator Platform a wide range of third-party partners who complement our mission. We're very excited about all the possibilities this opens up for our creators," says Strompolos.

Workforce 2020 – Colliding Trends And A New Game

Thu, 14 Nov 2013 00:53:14 GMT

On November 7^th, “Workforce 2020 – Colliding Trends and a New Game” was the subject of CEO Trust’s NYC Chapter event at the stylish Terrace Club in midtown, adjacent Rockefeller Center. The event kicked off with a look at the fascinating short video, “How Will the World be in 2020?,” which offered a glimpse into many demographic and technological changes to come.

Our expert panel: Doug Blitzer, Director of Talent Acquisition & Development at Tribridge; Andrew O'Connor, President of A.J. O'Connor Associates, Inc.; and Maureen McGurl (Moderator), Principal at Sutton Place HR Consulting Group. Afterward, participants were invited to test their knowledge on US & global workforce trends during the interactive “Future Work" challenge. Our panelists then discussed evolving trends and methods to handle the challenges of an ever-changing global workforce.

Predictions & projections include that, by the year 2020:

There will be five generations in the workforce, with employees ranging in age from 16 to 70+ working side by side in many organizations
One in four US workers will be 55+, with the 55+ demographic being the fastest growing demographic group in the workforce
50 billion devices will be connected to the Internet – more than 6 devices per person on earth
75% of jobs will require a two- or four- (or more) year degree, special postsecondary occupation certificate, or apprenticeship, as the global economy shifts to more of a “knowledge economy”
Almost one in four US workers will be of Hispanic or Asian origin
Contingent workers may constitute as much as 50% of the global workforce

Strategies our panel presented for handling the challenges of this ever-changing global workforce included:

Strengthen and develop traditional leadership skills & competencies, such as emotional intelligence, conflict management/resolution, and change readiness
Develop newer competencies, such as learning agility, global mindset, 360 communication skills, and digital proficiency
Consider one-on-one executive coaching for leaders and high-potential employees for targeted, accelerated development
Accelerate the development of newly-appointed executives and newly-formed teams through assimilation/integration coaching
When hiring and striving to retain Millennials, know and focus on what’s important to their demographic, including:
- Opportunities for mentoring and participation in special interest community groups within the organization
- Worker character traits such as self drive and ability to learn
- Providing career experiences that offer opportunities for learning and building competencies & foundational skills
- Creating a strong corporate culture and sense of corporate values
- Encourage the development of a shadow management committee made up of high-quality employees who meet with management regarding concerns facing the company

Our panel shared information, ideas, and best practices drawing on their expertise and experience with individuals, teams, and corporations. Attendees gained insight into how to address the changes to come proactively in order to attract, hire, train, and retain the very best team members possible. All on hand came away with concrete strategies for providing productive and satisfying work environments for an increasingly heterogeneous workforce.

From PA Roundtable...Who is training whom?

Wed, 13 Nov 2013 14:48:00 GMT

This morning, the PA Chapter roundtable spent some time on the impact of the next generation Millennials in the workplace. There are clear cultural differences (there always are) between generations. One question that arose: should the senior generation be retraining the junior or vice versa?

Not trying to answer the question, but here are some interesting blogs and ideas from both sides of the generation gap...

Business Insider

Inc Magazine

There is a lot to be learned as well as taught. Happy Team Development!

-- RJ Juliano, CEO Trustee

Social Media Will Find You!

Wed, 25 Sep 2013 13:42:14 GMT

Social Media will find you, you can’t hide! After our recent session on Strategic Social Media, our Trustees can’t say they don’t know this.

The PA Chapter explored the rapidly changing world of strategic social media at an event held at the Pyramid Club in Philadelphia. The agenda focused on how CEOs should approach social media, why they often shy away, and why they benefit from using it. The top-flight panel focused on how social media is part of a wider brand strategy, why a response plan is critical, and how to get involved even with limited resources and knowledge.

Evan Urbania, CEO & Co-Founder – ChatterBlast Media, Michelle Price Taglialatela, President, Certified Brand Strategist – Tag Strategies, and Cass Bailey, Principal – Slice Communications led the lively discussion of this critical and often perplexing topic. Networking time and a lively interchange and Q&A with the audience focused the conversation on the strategic aspects that every business should address.

-- RJ Juliano, CEO Trustee

Researching Integrity - Dr. Jonathan Haidt

Thu, 19 Sep 2013 13:50:36 GMT

Dr. Jonathan Haidt, Author, NYU Stern School of Business Professor, and TED Speaker shared with CEO Trustees a glimpse into the future of teaching "ethics." At an interactive program in New York City, Dr. Jonathan Haidt walked us through a couple of the key ideas of his bestselling book, "The Righteous Mind," explaining how people are driven far more by their passions than by their reason, and how that makes teaching ethical behavior, or any kind of behavior, such a challenge.

He led the group through an exercise of evaluating the ethics of business by recalling situations that challenged their respective organizations in the past, and how they or their colleagues responded to that challenge. This resulted in a fascinating exchange among Trustees.

By the end of the evening, the audience was thinking about ethics on a new level, while giving Jon valuable feedback on how to advance the communication of the research on ethical behavior and systems.

Unique NYC Celebration at a Golfer’s Oasis in Midtown

Wed, 17 Jul 2013 13:52:53 GMT

Our NYC Chapter’s June Celebration at Golf & Body NYC in Manhattan was a special treat. Beyond the drinks, hors d’oeuvres, and fine company to which CEO Trust members have become accustomed, we were treated to a golfer’s oasis in Midtown, featuring a dedicated, top-of-the-line training bay. Our members used this bay to practice drives against a backdrop of some the most magnificent courses in the world. This experience revealed that some of us could use more help than others. This facility was, in fact, built for top golfers who benefit from a holistic approach to strength training and technique, though the club also invites novices, providing a safe place to learn the basics.

- Marc Hodak, CEO Trustee, Celebration Event Chair, Managing Partner of Hodak Value Advisors

CT Chapter Enjoys a Scenic Riverfront Celebration

Tue, 16 Jul 2013 13:54:22 GMT

A magnificent view of the picturesque Saugatuck River set the scene for Connecticut Chapter’s June celebration at the stylish Moja Cafe. This waterfront gem in the heart of Westport overlooks the patriotic Ruth Steinkraus Cohen Memorial Bridge, lined with dozens of waving American flags. With it’s vibrant, urban atmosphere, ambient music, boardwalk-style waterfront deck, and stunning views, Moja was the perfect venue for catching up with friends and making connections with peers.

Guests enjoyed great conversations and plenty of laughs over fine wines, cocktails, and delectable Asian-fusion fare, including delicate Rice Paper Shrimp Wraps, savory Pepper Steak Arepas, and Crab Musubi. Glorious weather was the pièce de résistance of this picture perfect evening. Comments from guests included, “Very nice event in a very nice location.” “Well done!” and “Conversation with fellow members ended up taking precedence over the wonderful river view.”

The Philadelphia Chapter Enjoys A Celebration at Longwood Gardens

Mon, 17 Jun 2013 13:55:58 GMT

The Philadelphia Chapter of CEO Trust held their Celebration at Longwood Gardens, one of the premier botanical gardens in the country. On the over 1,000 acres that was once held by William Penn, industrialist Pierre DuPont created his private estate and gardens that was later bestowed that is now a stunningly beautiful indoor and outdoor garden. The location was perfect for an outdoor Celebration that had Trustees and their guests mingling over cocktails and getting to know their fellow Trustees over a delicious dinner. I overheard comments from a number folks about how much the Chapter has grown and the great learning and networking opportunities that the CEO Trust provides.

In addition to cocktails and dinner, guests had a chance to win a fabulous raffle prize. Below is a list of our raffle prize winners:

CEO Trust Coffee Cup – Abe Hughes, Vice President, New Holland Agricultural

CEO Trust Baseball Hat – Mark Spool, Ph.D., Management Development Solutions

CEO Trust Keepsake Box – Joe Tait, CIO, Lydall

Gift Certificate to The Capital Grille – George Nelson, CIO and Senior Vice President, Toll Brothers

Gift Certificate to the Four Seasons Hotel – Dr. Christine Stiles, The Center for Breast and Body Contouring

Exquisite bottle of Tignanello Sangiovese Cabernet along with a quality wine tote –
Ted Kaminer,EVP & CFO, Bioclinica

After dinner, guests were invited to stroll the grounds and Conservatory, ending the evening with a beautiful fountain and light show. Our host, Joe Calandra, of ADPI, knows how to throw a Celebration! Joe is to thank for providing such a terrific evening for our Trustees and their guests.

-- Patrick Callihan, CEO Trustee, Celebration Chair, Executive Director, Tech Impact

All Aboard! How to Land Quality Board Seats

Mon, 15 Apr 2013 13:58:33 GMT

We had an outstanding event this past Monday, April 8 that was attended by a packed room of more than 25 people which is great for this growing chapter. We even ended up cutting off the conversation after running over the time limit.

In the spirit of “Learn what it’s like from some of the best” we gathered a great panel to share their experience with us.

MIKE LORELLI -- CEO of WaterJel Technologies, accepted his first Board assignment in 1990. He has since served on the board and chaired the compensation committees of 3 publicly traded companies and served on 5 private equity boards. Mike is presently on the board of CP Kelco and Rita’s Italian Ices. He has master’s level accreditation at the National Association of Corporate Directors and The American College of Corporate Directors. Mike is a Founding Trustee of CEO Trust’s NY & CT Chapters and served two tours of duty as a PepsiCo division president in the 90’s.

Kerry D. Moynihan -- Managing Director at the executive search firm, ZRG Partners, specializes in board search and the strategic restructuring of boards of directors. Previously, Kerry was a partner with two of the world’s largest executive search firms. He has served on a number of advisory boards for emerging companies in technology and business services. He has written about and is sought by the media for his views on corporate governance, human capital, and executive compensation.

Lionel Nowell -- Lionel Nowell has held senior leadership roles over the past thirty years with fortune 500 companies such as PepsiCo, RJR Nabisco and Diageo PLC. Lionel currently serves on the boards of Bank of America, American Electric Power, and Reynolds American, as well as the Dean’s Advisory Board at The Ohio State University Fisher College of Business. A requested speaker at conferences and seminars, and a contributor to numerous publications, Lionel is also author of the self-help book “You Are Better Than Your Best.”

Some of the things we covered included what to watch out for when joining a board of directors:

Financial Accountability: Are there robust financial controls and procedures in place?
Regulatory Compliance: Do the other directors meet the standards of independence and financial expertise as newly promulgated by Sarbanes-Oxley, the NYSE, CALPERS, etc.?
Personal Financial Liability: What D&O insurance is in place?
Time Commitment: What are the typical time commitments required
Legal Liability: Is there any outstanding litigation against the company?
Try to predict Surprises: What are the potential financial or operational surprises, the not-so obviousrisks, or “bear traps”?
Watch out for structural conflict: Does the board have a unified agenda?
Interpersonal issues can hamper Board effectiveness: How does the board truly interact?
What gets measured gets done: Does the board engage in an annual review of its overall performance?

Overall this was one of our best ever events in my opinion – looking forward to seeing more of you at future sessions!

Instilling an Ethical Culture - The Good, the Bad and the Ugly!

Thu, 11 Apr 2013 13:57:31 GMT

On Thursday evening April 4^th the CEO Trust Philadelphia Chapter held an event at Drinker, Biddle- Instilling an Ethical Culture: The Good, the Bad, and the Ugly!

The event was made up of an all-star group of panelists; Marc Hodak-Moderator (Adjunct Associate Professor NYU Stern School of Business & Managing Director, Hodak Value Advisors), Michael Brozzetti (President of Boundless, LLC), Paul Donato (Director, Atlantic Financial Advisory), Greg Miller (Managing Partner, Drinker Biddle), and George Zauflik (SVP of Compliance/Government Relations at Cardone Industries).

The panelists provided real life situations which demonstrated just how very important it is for an organizational leader to instill ethical conduct. At one point a panelist succinctly stated “it all starts at the top.” If a CEO doesn’t lead ethically, the culture will be reflected.

After Mr. Hodak cited a recent day’s Wall Street Journal headline involving a case of corporate malfeasance, Mr. Miller described a hypothetical involving an organization’s lack of oversight with its inconsistent internal pricing schemes resulting in a federal grand jury subpoena seeking all documents related to its contracts… “The Ugly” situation.

Mr. Donato then went on to describe an accounting forensic case whereby a former company owner had circumvented his formal business relationships benefiting from a more favorable pricing scheme from a foreign company in which he was an investor that was selling to his current business partners. In this case the company owner cited being “bored” and wanted to pocket from arrangements about which the current business partners were unaware….“The Bad” situation.

Mr. Zauflik described how due to his company’s principled core values resulted in a supplier’s having to come clean and confessed to price-gouging….”The Bad to the Good” situation.

Finally, Mr. Brozzetti discussed how specific internal controls utilizing I.T. to mitigate risk could be instituted within any organization….”The Good” situation. All in all, the panel discussion could have extended beyond the scope of time allotted due to the spirited discussion. One participant expressed the view that this was quite possibly the best CEO Trust panel event yet!

-- Chuck Steege, Founder and President, SFG Wealth Planning Services, Inc.

Instilling an Ethical Culture - The Good, the Bad and the Ugly!

Thu, 11 Apr 2013 13:13:35 GMT

On Thursday evening April 4^th the CEO Trust Philadelphia Chapter held an event at Drinker, Biddle- Instilling an Ethical Culture: The Good, the Bad, and the Ugly!

Mr. Zauflik described how due to his company’s principled core values resulted in a supplier’s having to come clean and confessed to price-gouging….”The Bad to the Good” situation.

Event at the Louis Vuitton New York Fifth Avenue Flagship Store

Wed, 10 Apr 2013 13:59:27 GMT

It was a privilege for CEO Trust to hold their CEO Personal Brand event at the Louis Vuitton Flagship Store on the corner of 57th and Fifth Avenue in New York on April 3 from 6:00-8:00 PM.

The personal branding presentation was led by Jim Miller and stressed the importance of creating your own personal style and differentiation. Jim was supported by the executive management team from the Louis Vuitton store including Alejandra Rositto, Todd Leavitt and Monique Lodi. It was a perfect venue for this topic as Louis Vuitton is a French fashion house founded in 1854. The label’s LV monogram appears on many of its products ranging from luxury trunks and leather goods to ready-to-wear, shoes, watches, jewelry, accessories and sunglasses. For six consecutive years (2006-2012) Louis Vuitton has been named the world’s most valuable luxury brand.

The group sipped Dom Perignon, http://www.domperignon.com and Dom Runiart the first official Champagne house in the world http://www.ruinart.com. This provided an exceptional treat for the evening. Richy Petrina, Private Client Director of Moet Hennessy gave an impressive synopsis of the fine bubbly and a bit of the history around the top champagne brands in the world.

Once primed on the importance of world class branding as a CEO, the group was introduced to the "Art of Packing" and introduced to one of the newer product lines of custom crafted Louis Vuitton Watches created and designed exclusively by LVMH where hand and machine precision is perfected in the watch capital of the world, Geneva, Switzerland.

The meeting went a bit beyond the normal one and a half hours but with all the beautiful champagne, hors d'oeurves and incredible fashion and accessories, it was time to indulge and dream of each CEO building their own personal brand and style to achieve greatness for themselves, their company and society.

-- Jim Miller, CEO Trustee, President, DigiPowers

Smarter Social Media for CEOs

Fri, 08 Mar 2013 15:03:35 GMT

On March 5, 2013 the New York Chapter event on Social Media was a captivating. The panel consisted of experts with various roles in the social media world. Eve Cline of Tribridge represented the hardware, Richard Gascoyne of EngageSciences offered best practices from his software experience and brand work, and Sree Sreenivasan of Columbia University added his strategic expertise.

The discussion overflowed with questions and answers from the audience and Trustees lingered long after the event. All walked away with ideas and tools that can help your business grow. Another social media conversation is sure to happen down the road as this world is constantly evolving. We hope you can join us at a future CEO Trust event!

New York Chapter Holiday Celebration at Tourneau

Mon, 10 Dec 2012 15:05:02 GMT

The atmosphere was holiday festive during CEO Trust’s December 4 celebration at Tourneau’s luxurious and innovative new Concept Store on Madison Avenue. Members, significant others, and invited guests enjoyed fine wines and gourmet passed hors d’oeuvres beneath New York City's newest holiday landmark: the “World’s Largest Mistletoe Ball.” Measuring six feet in diameter, the brightly-lit sphere was suspended overhead from the space’s soaring 20-foot ceiling.

Surrounded by atmospheric videos on every wall, guests mingled with friends and colleagues around sleek watch tables crafted of walnut, matte brushed nickel, and leather. Of course, stunning timepieces to suit the most discerning of tastes were on display and available for guests to admire and try on throughout the evening. A highlight was the speech given by Philippe Bonay, CEO of Jaeger LeCoultre (a boutique watch brand that is carried in the store). Philippe shared with Trustees and guests a brief history of watches and his insight into what makes an exceptional watch and why such a watch is important for a CEO in an age of cell phones and other electronic gadgets that tell time.

Luxury gift prizes, a highlight of the evening, included a stunning Tiffany’s decanter valued at $200, and a Jaeger LeCoultre timepiece valued at $8,000. Below are the raffle prize winners:

CEO Trust Cap - Joshua Berstein, Vanderberg & Feliu LLP
CEO Trust Coffee Mug - Victoria Rospond, Founding Partner at CR Studios
CEO Trust Keepsake Box - Kimberly Campbell, AccountAbility
Macy's $100 Gift Card - Ken Mandelbaum, The Big M Inc.
Tiffany's Decanter - Paula Morgan, Aveus
Jaeger LeCoultre Reverso Grande Taille Timepiece - Danforth Austin

These biannual celebration receptions are an opportunity for all our Trustees (members) to get together with friends of the organization. It enables Trustees to catch up with old friends and make some new ones.

A Night of Celebration and the Arts in Philadelphia!

Wed, 21 Nov 2012 15:06:27 GMT

On Wednesday November 14^th, I had the pleasure of hosting the members of the Greater Philadelphia Chapter of the CEO Trust, as they gathered together for the CEO Trust’s annual celebration. The event was held at the Perelman Center of the Philadelphia Museum of Art. The evening’s attendees included members of the CEO Trust and their spouses along with chapter alliance members.

We enjoyed hors d’oeuvres, beverages and of course each other’s good company. The evening concluded with an opportunity for the attendees to participate in private viewings of the exhibit Shipwreck! Winslow Homer and The Life Line. The viewings were facilitated by knowledgeable museum tour guides who really enhanced the overall appreciation of the artwork on display.

All in all this was a wonderful night for all of the participants and provided everyone with some added excitement for the year that is ahead for the Philadelphia Chapter of the CEO Trust.

-- Cindy Ravitch, CEO Trustee, CFO, Mrops, Inc.

CT Chapter’s Entrepreneurship Event – Rescheduled to January 15

Thu, 08 Nov 2012 17:48:08 GMT

“It couldn’t be an entrepreneurism event without some last minute hiccups. The weather didn’t cooperate but the panelists are are very excited for the rescheduling. I’ll take this time to explain a bit of what we had planned and hopefully, we can have even more questions ready for this group come January.

My intention behind this event is to learn what entrepreneurs can offer seasoned CEOs. I believe there are a number of “basics” we miss in our daily business lives. Two situations (conversations really) sparked this idea.

The first was a conversation with a senior consultant at Accenture. She had led a huge makeover for a company. Each department was given a stack of tasks to tackle. The CEO was so excited and couldn’t wait for his assignment. That assignment? Do nothing. No work, no contact with work, nothing. He could come to the office but he had to stay behind closed doors. They suggested he read the newspaper. Certainly he fought and complained but after a few days his sentence sunk in. 10 days later he emerged with an expansive list of ideas he had for his business. He just needed some space away from the daily influx and the daily grind. The new perspective helped move his business forward.

The second was a conversation I’ve been having off-and-on with one of our Strategic Alliance partners. I brought up a case where a business had recently shed $20MM from its budget during the recent economic crisis. We asked each other, “Why can’t companies stay lean?” Many of us have been in start-up mode where we are bootstrapping through each month; what happens that allows us to lose that spirit?

So, what questions would you love to ask successful entrepreneurs? What perspectives do you wish you had in your business?”

-- Aaron Mandelbaum, Event Chair & CEO Trustee, CEO of StyleQuest.com

Help for Recovering from Hurricane Sandy

Thu, 01 Nov 2012 16:52:11 GMT

Several CEO Trustees have reported in with challenges in the wake of Sandy. In case it helps, here is a Crain’s article that nicely summarizes resources that might be useful.

Crain’s Article – Everything businesses need to rebuild