Consequences Drive Change
by Miki Saxon
In a recent post, Mark Suster commented on about the latest sexcapade involving Les Moonves, CBS Chairman/CEO.
Leaders in all industries need to stand up and say that this kind of behavior will not be tolerated. Future emerging leaders in companies need to know that this kind of behavior will not be tolerated and a spotlight will be shined when it does.
I was going to comment, mentioning what happens when a power is toppled, but LaVonne Reimer (fourth comment) beat me to it.
She cited the story of Mike Cagney, who was fired from online lending company Social Finance last September after an investigation by the board of over accusations of sexual misconduct and lying.
Powerful men getting fired for harassment and/or sexual misconduct is all too common these days, but that wasn’t Reimer’s or my point.
Our point is the aftermath — or total lack thereof.
Yet just months after Mr. Cagney departed SoFi, two venture capitalists who had been on the company’s board and knew many details of his actions invested $17 million in his new start-up, called Figure. Since then, Mr. Cagney has raised another $41 million from others for the lending start-up, which will open soon.
Suster’s idea that “Leaders in all industries need to stand up and say that this kind of behavior will not be tolerated.” means nothing as long as there are no real consequences.
Obviously, losing their jobs did not equate to losing their power.
And it’s the power that matters, not the job — because there is always another job.
Therefore, no consequences.
Image credit: Hiking Artist
