If turning-around a company in doldrums is difficult, then
imagine how would it be to turn around a company that is already
successful? Richard ‘Rich’ Lesser, did just that with BCG. Lesser’s
career is one that reflects perseverance, thought leadership, and above
all, continuous learning throughout. The chances of academic brilliance
guaranteeing a successful career are less and, that of entrepreneurship
much ‘Lesser.’ The combo works out well only if one puts in the required
efforts and the right approach. Lesser did all this and much more in a
career spanning three decades in which he worked at diverse companies,
assumed various roles, and did excellently well to rise through the
ranks, finally becoming the CEO of The Boston Consulting Group. Through
the course of this journey, he has demonstrated exemplary quality and
expertise for clients in diverse areas such as the health-care industry
(specializing in the bio-pharma sector), large-scale transformation and
productivity improvement, digital innovation, corporate vision and
objectives development, post-merger integration, and new globalization
challenges.
He graduated with highest honors (Summa Cum Laude)
with a BSE degree in Chemical Engineering, from the University of
Michigan, Ann Arbor in 1983.
Career
After
completing his Bachelor’s with flying colors (1983), Rich Lesser began,
what would be a long and successful career, with Procter& Gamble as
an engineer in process development, soon becoming a group leader there.
After the stint with retail major, Lesser deemed it important to acquire
management education at it would add significant value to not only his
profile but also the career he would embark soon after. Thus, he
attended Harvard Business School and completed his M.B.A. with high
distinction. In fact, he was named a Baker Scholar during his time at
world renowned B-School. Early signs of a visionary who was clearly
seized of what needs to be done and, importantly, did everything in his
capacity to accomplish the same.
Along the way, Lesser also worked
in the synthetic fuels R&D field for some time (at Westinghouse
& BP) and got thoroughly familiar with it. This would also add to
his consulting quality in later years when he became a partner with BCG.
At The Boston Consulting Group
Rich
Lesser was assigned to a major account at BCG (which he had joined in
1988 after his 3-year stint with Procter & Gamble) which was
significant in many ways. The responsibility, as head of the New York
Metro office system (which he took up in 2000) would, for next almost a
decade (9 years if you want) extract the best of Rich Lesser.
Ever
since the day he joined BCG, Lesser has been a symbol of innovation,
strategy, and large-scale transformation – which have conjured up much
success for BCG’s clients in terms of redirecting and re-aligning the
corporate and business (unit) objectives, improving the effectiveness
R&D efforts, organizational streamlining, boosting productivity, and
seamlessly managing post-merger integration.
The youngest partner as BCG
Lesser
became a partner at BCG in only 10 years after he joined the company.
This was neither a fluke nor a mean achievement by any standards. Simply
because, as with any other leading consulting major in the world, be it
McKinsey & Co., or PWC or any other, it takes an immense amount of
time before one wins the confidence, and is considered eligible and fit
enough to be awarded with a partnership. So, it goes to Rich Lesser
credit that he was able to win the trust of the partners and all who
mattered through sheer performance and delivery, which he was able to
achieve from on basic trait that differentiates him from many others –
continuous learning. This is something that Lesser not only preaches
-as the quintessential axiom for anyone in growth curve- but also
practices it in every sense of the word. This is well and truly driven
home by his commentary. “The biggest mistake a successful company can
make is: tolerating employees who simply want to preserve the status
quo, which can send a debilitating sign to the entire company.”
When
someone meets him or just reads what he has quoted, the quality of the
man shines through. He has been one of the main proponents of the
concept of continuous learning regardless of which stage of life or
profession you are in. Another trait that sets him apart is his emphasis
on collaborative efforts as the primary means to achieve the ends i.e.
in his case, delivery to clients.
From 1988 up until 2013 when he
became the global CEO of The Boston Consulting Group, Lesser has served
in various positions that demanded much more than just responsibility
and he has not let down anyone ever, if some accounts are to be
believed. His leadership qualities were came into force, not long after
he became a partner when he was asked to head the New York Metro Project
in 2000, which he did very successfully for the next 9 years. Along the
way he was also inducted into the firm’s executive committee in 2006.
These
were followed by his elevation in 2009 to the post of Chairman of North
and South America Operations of the company which he assayed for three
years, and then he was elevated to the post of President and global CEO
in 2013.
Global Chief Executive Officer (CEO) of the Boston Consulting Group
As
hinted in the preface to this write-up, (in Lesser’s view as well too)
while it would heroic of a CEO who revives the fortunes of a struggling
company, it may not be as impressive or celebrated even, if there’s a
CEO who inherits the reins as indeed the legacy of a successful company.
In his own admission, when he took up the mantle of leadership of the
company, it was mighty hard to instill a hunger for change when
employees had no apparent appetite for it, and the vote would have been
to not tinker around with what has been a proven success. That is when
he also realized that the stake would really be high if complacency set
in. Whether he liked it or not, this was the hard truth he had to
contend with. But, as with stellar leaders know around the world, Lesser
demonstrated leadership, tenacity, and vision to overcome this biggest
hurdle. The change he was looking for was perhaps in the dangerously
risky self-confident character sketch that successful public companies
showcase. It wouldn’t have been easy for him as naysayers would always
be ready to jump in with judgements.
But, he set the direction and
re-energized the organization in the constantly changing business world
with its own set of dynamics, in a digitally transforming ecosystem. In
his own commentary he put forth the things that successful business
leaders have done and should do.
Confront reality
Establish “the fierce urgency of now”
Avoid the false security of “a safe pair of hands”
Tackle organizational sclerosis
Lesser
knew pretty well as to what was the most critical aspect in achieving
these: Win the hearts and minds of a whole range of stake-holders such
as employees, customers, investors, and also regulators too. He has done
that so wonderfully well and how.
Other associations
|
| Member
of the BCG Henderson Institute's Innovation Sounding Board, which is
dedicated to supporting, inspiring, and guiding upstream innovation at
BCG. |
| Served as Director of The Harvard Business School Club of Greater New York, Inc. |
Awards
|
| Named among ‘Top 25 Consultants’ of the industry, Consulting magazine, 2009 |
| Baker Scholar, Harvard Business School |
Quotes |
| "The
challenge for any organization is to not only have the boldness to
grow but to also have the persistence when it matters the most." |
| "In
turbulent times, the glass can be seen as half full or half empty. In
Davos, you hear passionate advocacy of both. Personally, I am on the
optimistic side, despite the inevitable bumps along the way. But the
rewards will not be spread evenly and will favor the bold, the
open-minded, the trusted, and the collaborative — those who can change
the game. We must embrace the uncertainty and try to shape the future
rather than letting it shape us." |
| "It's
all about how you work in teams, it’s all about how you collaborate
with others. I want people to realize that none of us alone can deliver
the impact our clients expect; and that really puts the onus on
knowing that you don't know, and be ready to ask for help, but also
being ready to step-up a little to help others, and I think that
mindset of being in a continuous learning mode - is both the most
rewarding part of it and sometimes the most challenging part of it.". |
| “The
biggest mistake a successful company can make is: tolerating employees
who simply want to preserve the status quo, which can send a
debilitating sign to the entire company.” |