One sentence on LinkedIn sparked today’s post.
Yes, a comment shared by a fellow W&L alum, Melissa Sawyer, inspired me. She noted:
“Much attention is being paid to the well-orchestrated CEO transitions at Merck and Amazon this week, which reinforce the important role that thoughtful succession planning and good governance play in corporate America.“
A partner in the law firm of Sullivan & Cromwell, I interviewed Melissa as part of our Looking Ahead series in 2019. Since meeting her, I continue to find her perspectives on governance and regulatory issues timely — and spot on.
So when I saw her take on Kenneth Frazier’s and Jeff Bezos’ career decisions this morning, my mind immediately went to a conversation I had with the former CEO of U.S. Bank about his well orchestrated succession plan.
Filmed in advance of our exclusive Inspired By Acquire or Be Acquired “content pop-up,” Richard Davis provided valuable insight into sharing intelligence to build others up. He also explained the steps he took to position his successor, Andy Cecere, for success. Rather than edit my conversation down to just that clip, here is the full conversation between Richard (now President & CEO, Make-A-Wish Foundation of America), and me.
We start by talking about culture, purposes and values (1:21). Next, how industry leaders can inspire the societies and communities they serve (5:06). We talked about laying the foundation for a well received transition (8:20) before exploring the equation IQ+EQ+CQ (12:22). Finally, how companies become places that employees want to work for (15:49).
*Another dot to connect? Our Editor-at-Large, Jack Milligan, talked with the Senior Chairman of Melissa’s law firm, Rodgin Cohen, as part of this digital program. The two explored the heightened cybersecurity threats facing banks today, his outlook for bank M&A in 2021 and how regulation could change under the Biden Administration. For those with access to Inspired By Acquire or Be Acquired’s exclusive digital content, take a look at An Interview with Rodgin Cohen.