Sometimes management genius is sorely misunderstood by the unenlightened masses. Such was the case with former Morgan Stanley CEO Phillip Purcell. From 1997 to 2005, Purcell lead the company forward with his bold leadership moves. His vision was big as he kept his eyes on the big prize rather; he wisely understood that small clients were small potatoes and inconsequential.
He knew what direction he wanted the company to go, and he had no trouble expressing that. A daring leader with vision, he knew it was necessary to step on toes during his tenure. Several people left the company, but that's to be expected with a bold leader. They obviously quivered in the greatness of Purcell and left through the back door with their tail between their legs.
Unfortunately, his strong leadership was too easily misinterpreted as arrogance by the common workers of the company. Add to an overblown and completely unjustified 1.45 billion USD judgement against Morgan Stanley, and the board gave into pressure from the masses to release Purcell. Clearly, bold leadership and authority are under appreciated, else Purcell would still be at the helm leading the company back to greatness.
He knew what direction he wanted the company to go, and he had no trouble expressing that. A daring leader with vision, he knew it was necessary to step on toes during his tenure. Several people left the company, but that's to be expected with a bold leader. They obviously quivered in the greatness of Purcell and left through the back door with their tail between their legs.
Unfortunately, his strong leadership was too easily misinterpreted as arrogance by the common workers of the company. Add to an overblown and completely unjustified 1.45 billion USD judgement against Morgan Stanley, and the board gave into pressure from the masses to release Purcell. Clearly, bold leadership and authority are under appreciated, else Purcell would still be at the helm leading the company back to greatness.
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