Bad, bad, symbolism: BP CEO goes yachting
The symbolism of leadership is one of the most powerful elements of the job. But, somehow, we never seem to learn that every action taken by a CEO or other senior leader has what Don Hambrick (my former colleague at Columbia) used to call "symbolic fallout." The more senior you are, the more every move, action and decision is dissected for meaning, beyond the substance that the executive thought they were conveying.
The latest entry in the symbolic Chernobyl follies has got to be the decision by BP CEO Tony Hayward to attend a yachting event this past weekend. Coverage has been scathing, adding to mounting public fury over the ineffective response to the spill and in all likelihood making it far more difficult for Hayward to do his job. It is often this sort of symbolic mishap - remember AIG and the bonuses - that marks the beginning of the end for leaders.
It all supports what I often say in class - you don't have a choice not to be 'into' symbolism. It comes with the job. And symbolic fallout can sink a career just as readily as getting the substance of a decision wrong.
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- Posted: Monday, June 21, 2010
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Wow, I could not think of a worse thing for him to do!!! I love the term symbolic fallout, describes this situation perfectly. As CEO it his duty to be present, work in the trenches and be there in the gulf, not out yachting. He needs to be the face of the company, and for a company that is in some serious trouble, he should be doing all he can to lead, and the best way to lead is by example…..
