Effective Leadership During Times of Transition

Posted by: AmberRoberts in: Financial Services -

Day 2:  NIRI Annual Conference, Orlando, Florida

George Barrett, Chairman and CEO of Cardinal Health, spoke this morning about great leadership and the lessons he has learned throughout his career, and particularly during his time at Cardinal Health, during which he led the global company through a significant spinout of its medical devices division in 2009.

Here are his three lessons on leading effectively during times of major transition.

1)   Organizational culture matters. It is difficult to have investor followership without internal followership. Start from the inside — your people have to believe!

2)   Articulate vision with clarity and passion. For example, Cardinal passionately believed clinicians should spend more time on patient care than peripheral activities. The spinoff was a chance to articulate Cardinal’s overall opinion on healthcare in the U.S., and provide a proof point on how Cardinal was supporting this vision.

3)   Tightly integrate your message. A tight narrative unifies and influences stakeholders. The investment community needs to understand where a company wants to go and why leadership is confident it can get there. They also need to know what progress on that journey looked like.

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