3.1. The Saga of "No Toes," the Gunslinger

The CEO of a regional financial services organization retained a headhunter and hired a new chief operating officer who had a reputation as a "tough, take-no-prisoners" turnaround expert. At the bank, his initial nickname was "Gunslinger," but later in his reign, because he made quick decisions without consulting others or adequate data, he was more frequently called "No Toes." Figuratively speaking, he would approach problems in a "ready-fire-aim" sequence, pulling the trigger before drawing his gun from its holster, thus blowing off his toes.

The bank was in bad shape when he arrived. It was internally focused, overbureaucratized, and overstaffed, and it had made too many bad credit decisions. If ...

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