Forbes - The Power Of A Positive Goodbye

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It’s a poignant week for us here at Forbes, as Assistant Editor Christian Kreznar is moving on to an editing role at the Council on Foreign Relations. It’s always sad to say goodbye to a terrific colleague. At the same time, it’s also uplifting to see someone move into a role that excites them and plays to their strengths.

I worked for an employer that used to view quitting as a form of disloyalty. When someone found a new job, their computer would be shut down and they would be escorted from the building, lest they leave with any trade secrets in tow. There were no good-buy parties or congratulatory notes. The former colleague would simply disappear from the system, as if vaporized.

Luckily, I’ve worked for many more employers who understand that our connections extend far beyond the jobs that we currently occupy. For them, a big opportunity is a source of joy. It means that the training and experience that person had is recognized and valued by others. It also means that the former employee could become a brand ambassador for their old company in a new space—and potentially even grow to become a customer. Those employers don’t blow up bridges when people leave; they reinforce them. If they’re like my former employer, McKinsey, they continue to invest in maintaining a strong alumni network.

The latter approach has won me over again and again throughout my career. I’m still in touch with
Robert Lewis, the former editor of Maclean’s, who met me as a college kid going off to Nairobi on a Rotary scholarship and later hired me at the magazine in Toronto. Last week, I went to the birthday party of a friend and former colleague from BusinessWeek and hosted two other friends who used to be colleagues at the Wall Street Journal in Hong Kong.

But the best testament to the power of a positive goodbye is when you get to work with terrific colleagues again, as I now do with Senior Editor Jena McGregor, whom I first met at
BusinessWeek. Forbes, in fact, is filled with so-called boomerangs: people who left for other other jobs or, in the case of Chief Content Officer Randall Lane, went to start their own ventures and then came back to bigger roles.

We talk a lot about the “Great Resignation.”
Christian even wrote about it. We’ve all felt the pain of seeing colleagues leave or simply quit to take care of children or other responsibilities amid the pandemic. But let’s not forget the joy of seeing people move on to bigger roles and new adventures. For me, the pie just gets bigger, as does my network as the people I’ve worked with move around the planet to pursue their dreams. Former colleagues become friends and contacts in places we might not normally go.

So here are a few words from Christian, our friend and man at the Council on Foreign Relations. He has been instrumental in helping me with this newsletter and many other projects. I wish him well and look forward to seeing him again in a new context.

This week marks my final edition of CxO. Over the past two and a half years, I’ve looked to showcase stories that demonstrate the best that leaders can be: Dynamic, inventive, supportive and humane. Forbes has long considered itself “the drama critic of business.” If that’s the case, CxO has been a forum to study the directors that put on the show. Hopefully you’ve found a worthwhile lesson or two; I certainly have.

Have a great week.

Diane

Diane Brady

Diane Brady

Assistant Managing Editor, Communities & Leadership

Christian Kreznar

Christian Kreznar

Assistant Editor

Comings & Goings

As part of General Motors’ IT overhaul, it has split its legacy tech division into two major groups: One dedicated to its global IT needs, the other to consumer-facing software development. The company has tapped two internal candidates for leadership: CTO Fred Killeen will run global IT, while CIO Stacy Lynett will lead the product division.

Richard Fain, the long-serving CEO of
Royal Caribbean Cruises, will sail off into the sunset at the end of the year. In January, the cruise line will pass the reins to CFO Jason Liberty. Per Royal Caribbean, Fain is the third-longest-serving CEO in the S&P 500.

Leadership & Strategy

Recently uncovered texts between McDonald’s CEO Chris Kempczinski and Chicago Mayor Lori Lightfoot are straining relations between McDonald’s corporate and its Black franchisees. In the texts, Kempczinski blamed the parents of 13-year-old Adam Toledo and 7-year-old Jaslyn Adams for their deaths. The scandal comes as McDonald’s is embroiled in a lawsuit with Black franchisees who allege the company steered them toward operating underperforming stores.

Meanwhile,
Facebook—now “Meta”—is attempting to distance itself from earlier controversy by discontinuing its practice of selling ads based on “sensitive” categories, namely, religion, politics and sexual orientation. The move comes shortly after an announcement that Meta would shut down its facial recognition software program.

A new report from IT security provider
Barracuda Networks found that phishing attacks on businesses are growing increasingly sophisticated and financially ruinous. The report found that 35% of organizations were targeted by a phishing attack this September, with attacks on corporations up 18% year-over-year.

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By The Numbers

300

Maximum number of miles that Embark autonomous trucks will travel.

Alex Rodrigues, the 26-year-old founder of the autonomous trucking endeavor
Embark, has had quite a year: Not only did the company’s SPAC net him an impressive $500 million fortune, but it also made him the youngest CEO of a publicly traded company.

The CxO Profile

 
GE Groomed Insiders For Years. An Outsider Is Finally Breaking It Apart.
 
 
 
GE Groomed Insiders For Years. An Outsider Is Finally Breaking It Apart.

GE’s tradition of grooming in-house talent for leadership is legendary in the business world. (It even served as a major plot point in NBC’s 30 Rock.) It’s fitting, then, that outsider CEO Larry Culp is the one to break the conglomerate apart. While Culp maintains that splitting the company wasn’t in the cards when he came onboard in 2018, he took the reins in a moment of crisis for the industrial giant, and breaking up has long been an option. Sometimes you need an outsider to smash the sacred cows.

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2021 Forbes Power Women’s Summit
 
 
 

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2021 Forbes Power Women’s Summit

Join us for the 2021 Forbes Power Women’s Summit taking place virtually on Thursday, December 9 at 11 a.m. ET | 8 a.m. PT. As we chart a course toward a post-pandemic world, the Summit will explore how today’s most dynamic changemakers are leading a new way forward and building a more equitable future. The Summit voices will include: Aurora James, Founder & Creative Director, Fifteen Percent Pledge and Brother Vellies; Jane Goodall, Founder, Jane Goodall Institute & UN Messenger Of Peace; Rosalind Brewer, Chief Executive Officer, Walgreens Boots Alliance; Allyson Felix, Five-time Olympian, 11-time Olympic medalist, Founder & President, Saysh; Naomi Campbell, Supermodel & Activist; Lindsey Vonn, Former Olympic Skier & Founder, Lindsey Vonn Foundation and more. Register for free today!  

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2021 Forbes Healthcare Summit: Breakthrough Solutions for the Next Decade
 
 
 

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2021 Forbes Healthcare Summit: Breakthrough Solutions for the Next Decade

It doesn’t get bigger than this! Help celebrate the 10th Annual Forbes Healthcare Summit on December 2 at 9:30 a.m. ET, with iconic leaders who are setting the global agenda across science, medicine, and business in a year where leadership has never mattered more. The CEOs of Walgreens Boots Alliance, IBM, CVS Health, TIAA, Uber, Anthem, Northwell Health, CRISPR Therapeutics, UnitedHealth Group, and more, are all on board to participate in the most consequential healthcare event of the year. This year we are again opening our virtual door and offering access to all wishing to attend.

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