Former P&G CEO Bob McDonald says: Leadership is the most valuable – and scarce – resource in the world.
Bob McDonald
Former P&G CEO says: Leadership is the most valuable – and scarce – resource in the world.
Don Yaeger’s Corporate Competitor Podcast Episode 172
Bob McDonald worked hard enough as a cadet at the United States Military Academy at West Point to graduate in the top two percent of his class, yet he took off all of his rankings and started back at the bottom as an Army Ranger. He went to the 82nd Airborne division as the 2nd Lieutenant and worked his way up the ranks to become Airborne Ranger Infantry Captain, in charge of a battalion he led in the Arctic Circle.
McDonald, who also managed to earn an MBA while leading his troops, was drawn to another line of work: business. And thus, the man who seemed destined for ever greater roles in the military pivoted and joined Procter & Gamble as a relatively low-level officer at the company. And that’s where he stayed—for 33 years—once again working his way up through the ranks until he became Chairman, President, and CEO.
Under his leadership, P&G added nearly one billion people to its global customer base, and its stock price increased by 60 percent in his four years as CEO.
“Life is a series of starting over,” McDonald explained in the podcast. “Life is a series of chapters, and you as an individual have to have confidence in yourself that you aren’t afraid to start over. If you are afraid to start over, if you’re looking for a title or a big paycheck, you may lose a huge opportunity.” Bob says that choosing the P&G company was one of the largest blessings in his life after marrying his wife.
McDonald definitely has the confidence, a fact he further demonstrated when following his illustrious career at P&G, he accepted President Obama’s invitation to head the Department of Veterans Affairs where McDonald was able to help transform the agency into one that truly delivered better care for our Military veterans.
In our conversation, he offers the tactical guidance needed for overcoming the fear of change and allowing your purpose to guide your leadership style. You will learn:
- The small but impactful ways to be intentional about setting high standards of behavior from the top of the organization.
- How to choose the harder right instead of the easier wrong.
- Deploying what McDonald calls ‘The 5 E’s”—envisioning, engaging, energizing, enabling and executing—to optimize your organizational capability.
He is solidly in the mold of the servant leader, one who leads from the front. And one of the many ways McDonald builds the trust needed for this kind of leadership is to give out his personal phone number.
“When I became the leader at the VA, I needed to create trust. In a crisis, a leader has to be even more accessible,” said McDonald. “One weekend, a Veteran called me, and I referred him to our Suicide Prevention Hotline. As I recall, they intervened, and the Veteran’s alive today. I haven’t changed the phone number. And I still answer it today.”
Resources:
- Connect with Bob McDonald on his website.
- Learn more about the Elizabeth Dole Foundation Caring for Military Families.
- Discover the work Every Cure is doing to unlock the hidden potential of existing drugs to save lives.
- Contribute to the West Point Association of Graduates.
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