Should leaders be concerned about being liked? Readers weigh in

It’s the first day of September and we’re headed into Labor Day weekend, the unofficial last weekend of summer. There’s certainly a lot to reflect upon in the workplace as we enter the remaining months of the year.

One topic I’d like to turn back to is leadership style. Last Friday, I asked CFO Daily readers the question: Should leaders be concerned about whether or not they’re liked?

I received quite a few interesting responses via email, and on social media:

—Raju Narisetti, leader of Global Publishing at McKinsey & Company, shared my question on his LinkedIn page, but also offered some advice: “The one recommendation I do have is to read one of my favorite books, The Courage To Be Disliked by Ichiro Kishimi and Fumitake Koga, a decade-old classic that is profoundly liberating in giving us the courage to change.”

—Joy Mbanugo, CFO at ServiceRocket, also shared her thoughts in a LinkedIn post: “Great leaders, irrespective of an organization’s size or nature, have one thing in common: They value their team,” according to Mbanugo. However, it’s “not about playing to the gallery or dispensing pleasing rhetoric,” she explains. “Instead, it’s weaving together the collective aspirations with the strategic path ahead.”

 Mbanugo continues, “Now, what does that imply for you? Suppose you’ve just stepped into your much-anticipated role as a first-time executive. The financial jargon, the spreadsheets, the ROI, and the market trends are important. But are they your center of focus? How about taking a different road—an untrodden path, perhaps? Instead of exclusively anchoring to numbers and charts, try anchoring to your team.” She adds, “I am lucky to work for a CEO and company who live this talk every day.” 

Meanwhile, some readers emailed self-reflective responses to the question:

—“I have had empathy toward team members as well as other functions. However, many times, I have seen that this does not work completely. Some people literally take advantage of you being good to them and others. Even in some organizations, HR also sees such people as ‘not so strong leaders.’ Still, I believe that I am able to get most things done using my basic characteristics, and I know that I fall into the category of a likable leader. I’m more comfortable with this leadership style.” —P.T., a CFO

—“I’m in a senior leadership role at a midsize PR agency and think about this topic often. For me, it’s less about being liked and more about being respected. I’m sure my teams grumble behind my back (they’re only human!). But it’s more important to me that they respect and understand my choices.”—M.C.

—“It’s been two and a half years since my last CFO position. When I think of my time there, the only thing that matters is the impact I had. Did I empower my team members and improve their well-being by fighting for them? (Which I am convinced I did). So, then I think I was likable to them. I think it simply comes down to—who are you really working for? Are you a servant leader? Or, are you pushing profits, or deliveries, or quarterly numbers?”—Gideon Kigotho

The next CFO Daily will be in your inbox on Tuesday, Sept. 5.

Enjoy the long weekend!

Sheryl Estrada
[email protected]

Leaderboard

Some notable moves this week:

Pete Graham was named CFO at Sallie Mae (Nasdaq: SLM), formerly SLM Corporation. Graham will join the company on Sept. 18 as an executive vice president and will officially assume the role of CFO on Oct. 27. He succeeds Steve McGarry. Graham most recently served as CFO for PRA Group. He was at General Electric for more than a decade where he held roles including CFO for GE Commercial Distribution Finance and GE Capital Markets.

Sarah Youngwood was named EVP and CFO at Nasdaq, Inc. (Nasdaq: NDAQ), effective Dec. 1. Youngwood will succeed Ann Dennison, who has held the role since 2021. Youngwood previously served as CFO and Group Executive Board member for UBS Group. Before UBS, Youngwood spent more than 20 years at JPMorgan Chase, including as CFO of Consumer and Community Banking and Global Technology.

William J. Kullback was named CFO at Telesis Bio Inc. (Nasdaq: TBIO), effective Aug. 28. Before joining Telesis Bio, he served as CFO of BioLegend, Inc. Before that role, Kullback served as CFO of Lombard Medical, Inc., before its acquisition by MicroPort Scientific Corporation. 

Greg Ethridge was named CFO at Canoo (Nasdaq: GOEV), an electric vehicle company, succeeding Ken Manget, effective immediately. Manget was hired as CFO at the company in January 2023. Ethridge previously served as president, chief operating officer and a director of Hennessy Capital Acquisition Corporation IV, V and VI. 

Henk Derksen has resigned as CFO at Viavi Solutions Inc. (Nasdaq: VIAV), effective Aug. 25. Derksen plans to return to Europe to pursue a new opportunity and plans to depart the company on Sept. 30. Pam Avent, currently Viavi's global controller, will serve as its interim CFO, effective Oct. 1. 

Glenn Nunziata was named EVP and CFO at Enviva Inc. (NYSE: EVA), effective immediately. Most recently, Nunziata served as the CFO of Smithfield Foods Inc. Before that, he held various positions of increasing responsibility at EY, most recently as a partner in assurance services.

Have an upcoming CFO move you'd like to be considered for an exclusive in CFO Daily? Send me an email. 

Big deal

The next generation of executives in corporate America are digital natives already exposed to advanced technology. Touchstone Research's new survey gauges the level of awareness and understanding that Gen Z has about generative A.I.  Overall, more than half (59%) of respondents said they're aware of generative A.I., but just 18% said they have used it. The Gen Z respondents are most aware of ChatGPT (46%), followed by Bard (21%) and Bing A.I. (15%), according to the report.

Seventy-five percent are using generative A.I. To create art, images, and videos, 61%  are using it for entertainment, 49% to get information, and 43% to help with schoolwork. The findings are based on a survey of 931 Gen Z students from middle school through college students. 

Going deeper

Here are a few Coins2Day weekend reads:

"Morgan Stanley analyst predicts S&P 500 could leap another 11% this year, boosted by gains in ‘Magnificent Seven’ stocks" by Eleanor Pringle

"Buy now, pay later giant Klarna slashes its half-year loss by 67% and its CEO celebrates shattering ‘misconceptions around business model’" by Prarthana Prakash 

“The Fed’s favorite inflation gauge rose last month—here’s why some economists say it’s misleading and won’t lead to more interest rate hikes” by Will Daniel

"This CEO traded in 5:29 a.m. Wake-ups for a more ‘spacious’ morning routine that includes her most ‘cherished ritual of the day’" by Coins2Day Editors

Overheard

"If you’re trying to get into the housing market, and because of how high interest rates are, because of how high home prices are, you have to be like the exception to the rule in terms of your earnings to get into the housing market if you don’t come with cash."

—Redfin’s chief economist Daryl Fairweather told Coins2Day. “It seems like the only way to kind of get your foot in the door to the housing market is to have some help,” or have an exceptionally high-income, particularly at a younger age, she added.