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

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.

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 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.

 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.

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.

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

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