A Terrible Mindset For Leaders
February 16, 2009 by Miki Saxon
John Thain was lauded as a brilliant leader for years. but he fascinates me as an example of the MAP (mindset, attitude, philosophy™) that is so ingrained and prevalent in a large portion of executives, especially in the financial sector.
Thain became Merrill Lynch’s CEO December 1, 2007. One of his first acts in 2008 was to renovate his office to the tune of $1.2 million. The redecoration included “$87,000 for area rugs, $35,115 for a commode on legs, $25,000 for a pedestal table and $68,000 for a 19th-Century credenza.”
Fired one year later Thain said, “They were a mistake in the …read more