Rise and Fall of Top Executive Allison

When I first time met Allison, I thought that she was the CEO. She had that special presence and gravitas. Little did I know that in 12 months, Allison would be fired.

Along with three other top executives and a dozen managers.

This was a result of a cataclysmic event that our consulting project triggered.

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A few years ago, our client embarked on a multi-year transformation program.

As a consulting firm, we provided strategic guidance and implementation support.

That's how I got a front-row seat to witness this drama unfolding.

Client confidentiality is of utmost importance to me. All names, facts, and timelines have been altered, but the essence of the story remains intact.

A Fantastic Leader

Allison was a CFO.

She was an exceptionally smart and inspirational leader.

Her subordinates adored her. At times, it felt like a cult or an army organization. Everything Allison said would be executed to a T, no questions asked.

She was like a general visiting a battlefield. Everyone would stop whatever they were doing. Everything Allison said would be followed by 'Yes, Ma'am!'.

Her leadership style reminded me of Margaret Thatcher's 'Iron Lady' style. Firm, unapologetic, confident, and fair.

Personal Change Story

I never forget her speech at the program kick-off.

She told an amazing personal change story.

We encourage clients to tell them to role model a transformation mindset.

It was an inspiring story that touched everyone's souls. Some people were crying.

She told us about her difficult career journey. She wanted to make the country and world a better place through her work in this company. So her son can be proud of her work.

Disillusioned

But, after a few months, I started getting disillusioned.

I began to realize the magnitude of the company's dysfunctional nature.

Initially, we underestimated the extent of it. Assumed that pushing harder would yield results. But the clients didn't take action.

The transformation was getting stalled. Later we understood why.

One Bizarre Meeting

Once we had this bizarre meeting.

One of the client managers presented her cost-saving initiative to Allison.

It was a solid initiative. A no-brainer decision that would save a few million dollars per year. The clients were excited to present it.

Allison's response shocked both the clients and us.

She said that it is a complex issue. It requires additional analysis. No decision was taken, leaving everyone speechless and confused.

After that meeting, her subordinates shut us down. Dialed down transformation efforts. They got Allison’s message loud and clear.

One Bizarre Project

A few months later, the clients asked us to help with their capital investment process. It was a complete mess.

They didn't know how many capital projects were ongoing. How many were completed? How much money had been paid and was owed to vendors? And how much in future investments was needed?

Given her role as CFO, Allison was assigned as a sponsor of this project. Her task was to regain control over the capital investment process and assist us as much as possible.

The CEO and Board were directly involved, so it got the highest priority due to the start of a new budgeting cycle.

One Bizarre Insight

Piece by piece we were trying to make sense of this complex situation.

I vividly remember one internal discussion.

We were trying to find a simple way to communicate the complexity to top executives.

We created a single slide showing the full picture.

We placed in a single timeline the full amount that was already spent, the cost of ongoing projects, and the required investments.

It was a simple slide that should have existed but it didn't.

The situation we uncovered was dire.

The organization had already exhausted its capital budget for the next three years. And yet the business demanded much more investments.

The math was brutal. It required drastic cuts of 50% in existing pipeline and future investments.

Shocking News

We presented this slide to Allison.

The blood drained from her face as she started to understand the gravity of the situation.

I had never seen Allison like that before. Usually very calm and composed, she got visibly nervous and started stuttering and speaking unclearly.

At that moment I realized that we stumbled upon something big.

Initially, I got worried that Allison would try to hide it under the rug as it happened before.

But there was no way she could do this, as it was on the CEO’s and Board’s agenda.

Later that week we shared the slide with the CEO and then with the Chair of the Board.

They had a similar reaction.

Shots Fired

We returned to our project, finalizing outstanding analyses and recommendations.

It seemed that nothing had happened. Back to business as usual.

The only thing that didn't seem right was that our final SteerCo kept getting rescheduled week after week.

Eventually, we learned that four CxO executives, including Allison, had been fired, along with a dozen CxO-1 managers.

We didn't know any details, and nobody was talking about it. However, you could feel how it shocked the whole organization, something that had never happened before.

System Unclogged

We continued working on this transformation program for another 12 months.

The company underwent a significant transformation. Lots of initiatives started moving and being implemented. The organization achieved significant financial targets.

In hindsight, it became clear that those four executives had been hindering progress in the organization.

The system got unclogged. Talented individuals began to thrive and receive recognition for their contributions.

While we were not aware of the board discussions and what really happened at that time, I can only speculate:

I think that our project uncovered substantial financial mismanagement. The top executives were fired either for their direct involvement or gross incompetence. The extent of their culpability remains unknown. The company decided to keep this situation quiet and no criminal charges were filed.

Afterthoughts

After this project many times I thought about what happened to Allison. How come she ended up in this situation?

She was such an inspirational leader. She could have achieved fantastic results.

I remember her personal change story. It felt genuine.

Maybe five or ten years ago, she was an ambitious professional. She wanted to change the world.

Then she was given more responsibility. But in return, she was asked to make decisions that she probably didn’t want to make.

And then small decision after small decision, she crossed that line of no return. Once she had done it, it was really hard to change things back.

And then a few years later, she found herself in a situation, where she had to put all her energy and talent into covering up things and oppose a positive change.

A cautionary tale for all of us. We should be vigilant about that invisible line that we are not ready to cross.

Eventually, her story turned from Margaret Thatcher to Elizabeth Holmes, who turned from a Silicon Valley savior into a massive fraud.

What do you think happened to Allison?

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P.S.

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