CHAPTER FIVE
Fight Short-Termism
In a tough, but fair analysis of consumer products giant Procter & Gamble, Fortune magazine cataloged the challenges that then-CEO Bob McDonald was facing in early 2013—lost market share, reputational decline, and a general sense that, in the words of the chief marketing off icer, “the organizational structure may not be right for today.”
After laying out a compelling case for change at P&G, journalist Jennifer Reingold asked, “Will the CEO be willing to undertake real organizational transformation, which can depress short-term profits, at the very moment that Wall Street is clamoring for better earnings?”1
When I read Reingold’s query, I thought that the whole article—actually, the whole magazine—should focus ...
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