Ex-Dow Chemical CEO says CEO lessons from Jack Welch and others are mostly obsolete.
Ex-Dow Chemical CEO says CEO lessons from Jack Welch and others are mostly obsolete.
Leading Through Disruption: A Manifesto for 21st Century Leadership
In a world where CEOs often shy away from their social responsibilities to avoid backlash, Andrew Liveris, former CEO of Dow Chemical, boldly defends stakeholder capitalism in his new book, “Leading Through Disruption.” A breath of fresh air in these uncertain times, Liveris’s book provides a compelling argument for the importance of embracing ESG (Environmental, Social, and Governance) principles and the need for businesses to embrace the new common good.
Liveris, drawing from his 14-year tenure as CEO of Dow Chemical, shares his journey of seeking leadership advice from some of the great CEOs of the 20th century. However, upon reflecting on his notes from those conversations, he realizes that the business landscape today is vastly different from what it used to be. The traditional lessons and skills of the past need to be reimagined and retaught to meet the challenges of the 21st century.
The first chapter of Liveris’s book, aptly titled “The New Role of ESG,” emphasizes that ESG principles should no longer be seen as an add-on to a CEO’s job, but instead, they must become central to it. Liveris argues that in this century, businesses cannot thrive unless society and the planet also thrive. He advocates for the adoption and embedding of ESG metrics as the minimal prerequisite for a business’s “license to operate” in the future.
Liveris uses the evolution of Dow Chemical’s thinking on environmental issues as an example of how far businesses have come. From the 1960s when denial was prevalent, to the 1970s when defiance prevailed, and then the 1980s when debates took place, finally reaching dialogue in the 1990s. Today, Liveris asserts that companies must move beyond talk and take action. He coined a fifth “D” – “Do” – highlighting the urgency for businesses to lead in transitioning to a zero-carbon future.
According to Liveris, the adoption of ESG metrics is not only a requirement but a demand from society. Businesses must align themselves with the values and expectations of their stakeholders, and this includes being accountable for their impact on the environment and society.
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Liveris’s book isn’t just about ESG. He covers a diverse range of topics that are essential for successful 21st century leadership. He explores changing geopolitics, the need for long-term thinking, the challenges of accelerating technology, and the importance of manufacturing and science. In a time when the rules of business are changing rapidly, “Leading Through Disruption” serves as a valuable resource for leaders looking to navigate this new landscape.
Liveris’s passionate advocacy for stakeholder capitalism aligns with companies like Novo Nordisk, a 100-year-old Danish company that proves purpose and profit can go hand in hand. Viv Walt’s deep dive into Novo Nordisk’s impactful initiatives showcases how businesses can embrace their social mission while reaping financial rewards.
With the world facing immense challenges, from climate change to social inequality, Liveris’s book serves as a call to action for CEOs and business leaders. Embracing stakeholder capitalism and actively addressing ESG concerns is no longer optional; it is the path to both long-term success and a sustainable future. By reimagining and adopting new leadership principles, businesses can earn their social license to operate in the 21st century.
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This edition of CEO Daily was curated by Nicholas Gordon.
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