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HBR – Leaders must navigate power dynamics carefully to maintain effectiveness and integrity. Common traps include overconfidence, isolation from feedback, and becoming too controlling. To avoid these pitfalls, leaders should foster open communication, encourage dissenting opinions, and remain grounded in their values. Delegating effectively and staying connected to their team’s experiences can help leaders retain perspective and adaptability. Emphasizing continuous learning and humility ensures leaders do not become complacent or detached from their organization’s needs.
By Julie Diamond, Lisa Zigarmi, and Lesli Mones | JUN 13, 2024
Yahoo Finance – Stephen MacMillan, CEO of Hologic and chairman of Illumina, shared his strategy for successful leadership in the face of activist investors like Carl Icahn. Having weathered challenges and boardroom confrontations, his philosophy involves listening rather than preparing defensive legal strategies. MacMillan’s efforts to revamp Hologic’s culture and improve financial performance resulted in substantial growth, vindicating his approach when Icahn departed with notable profit. Similarly, MacMillan’s influence at Illumina saw decisive actions like the divestiture of Grail to alleviate stock pressures. Throughout, MacMillan emphasizes the importance of dialogue, effective board role assignment, and understanding the underlying reasons for activism. His advice to Disney CEO Bob Iger, embroiled in his own battle with Nelson Peltz, underscores the urgency of succession planning, a critical aspect he believes the Disney board overlooked.