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Bill George

Harvard Business School Professor, former Medtronic CEO

Leadership Kudos and Gaffes: European finance leaders concerted leadership has gone a long way to stabilizing the financial crisis

Leadership Kudos go to European financial leaders IMF president Christine Lagarde and EC bank president Mario Draghi for stepping up to resolve the Euro crisis, in part with IMF’s €2.2 billion loan. Their concerted leadership has gone a long way to stabilizing the financial crisis, although much more work well be required to bring the budgets and debts of member countries back to fiscal responsibility and stability.

Leadership Gaffes go to the Olympus board of directors and former CEO Michael Woodford for poor governance that led to the cover-up of $1.7 billion in losses. The details are murky but the failures of leadership are very evident. As a result of the board’s poor governance, a great company is being destroyed and customer and investor confidence is being shattered.