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Eileen Mendel The Balanced Millionaire

Empowering Executives to Lead with Purpose and Principle | Eileen Mendel

Effective leadership is crucial in the ever-changing business world, and leadership consulting provides valuable guidance in developing the skills and mindset for success. Eileen Mendel, an experienced consultant and CEO of The Balanced Millionaire, empowers executives to build values-driven companies. Having forged her own way as an entrepreneur, her personal journey informs her work.

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New YouTube CEO, Neal Mohan, Has Big NFT Plans For The Platform

Neal Mohan was recently announced to become the new CEO of YouTube, and has stated that the implementation of NFTs into the platform could enable “creators to build deeper relationships with their fans.”

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Twitter CEO Elon Musk Makes Drastic Cuts Within Company: Fires Janitorial Staff 

According to a recent report from The New York Times, Twitter CEO tech billionaire Elon Musk has been making drastic cuts within the company ever since he purchased the platform for $44 billion. 

One of the most recent and seemingly random cuts from the company involved firing the entire janitorial staff, as well as forcing employees to bring their own toilet paper to work every day. 

“Early on Christmas Eve, members of the billionaire’s staff flew to Sacramento — the site of one Twitter’s three main computing storage facilities — to disconnect servers that had kept the social network running smoothly,” the NYT reported

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“Some employees were worried that losing those servers could cause problems, but saving money was the priority, according to two people who were familiar with the move but not authorized to talk about it.”

“The data center shutdown was one of many drastic steps Mr. Musk has undertaken to stabilize Twitter’s finances,” said the report. 

“Over the past few weeks, Twitter had stopped paying millions of dollars in rent and services, and Mr. Musk had told his subordinates to renegotiate those agreements or simply end them. 

The company has stopped paying rent at its Seattle office, leading it to face eviction, two people familiar with the matter said. Janitorial and security services have been cut, and in some cases employees have resorted to bringing their own toilet paper to the office.”

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Musk has also made numerous changes to the platform itself within the time he’s been active CEO, many of which have received backlash from users. 

He’s banned several journalists from covering news regarding himself, including reporters who pointed out his hypocrisy in some of the policy decision making. Specifically his choice to ban a user from tracking the movements of his private jet and an account that covers issues at Musk’s company Tesla, which are public reports. 

All of the “bans” have been partially reversed, however, due to the intense backlash from users. 

Reports are also stating that Musk is in the process of looking for a new CEO to run Twitter for him. He stated he would step down from the position once he finds someone “foolish enough” to take on the role. 

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Elon Musk Claims He Will Resign As Twitter CEO If He Finds Replacement

Elon Musk stated this week that he will resign as Twitter’s CEO once he finds someone “foolish enough” to replace him.

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Airline CEOs Urging Governments To Open Travel Between US And UK

Several large airlines based in the United States and United Kingdom have called upon their government leaders in an attempt to revive air travel between the two countries. Airline leaders are asking for an international summit to discuss the issue and lay out a possible plan for bringing back travel between the two nations. 

US Transportation Secretary Pete Buttigieg and his UK counterpart Grant Shapps received the letter which was signed by the CEOs of Delta Air Lines, United Airlines, American Airlines, British Airways, Virgin Atlantic, and JetBlue Airways.

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“Public health must guide the reopening of international air travel and we are confident that the aviation industry possesses the right tools, based on data and science, to enable a safe and meaningful restart to transatlantic travel.” 

JetBlue and US industry group Airlines for America have stated previously that they both have plans to revive travel between the US and UK this summer. 

“US and UK citizens would benefit from the significant testing capability and the successful trial of digital applications to verify health credentials.” 

The executives discussed in the letter how an increase in vaccinations between both countries, as well as advanced testing efforts now being implemented in international airlines, should give travelers the confidence that they’ll be safe from infection. 

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Both nation’s airlines also discussed the economic recovery efforts that they’re enduring, as the travel industry took one of the biggest hits as a result of the pandemic. The US is the nation that currently bars the most non-US citizens from entering into the country due to Covid-19 safety concerns. 

“Just last week, Secretary Buttigieg and G7 Transport Ministers met to discuss the complexities around reopening international travel and how to do so safely.” the U.S. Transportation Department said in a statement. 

“These conversations are ongoing. The Department will be reviewing the letter with other agencies as part of the whole of the government approach to COVID recovery.”

The UK’s Department for Transport didn’t immediately respond to the letter, however, it’s expected that the two nations will be in talks in the coming months on how to best reopen travel. 

Congress Questions Tech CEOs Over Role In Capitol Riot

Sundar Pichai of Google, Mark Zuckerberg of Facebook, and Jack Dorsey of Twitter all testified before two committees of the House of Representatives on “social media’s role in promoting extremism and the rampant spreading of misinformation” regarding the pandemic, Covid-19 vaccine, and election process.

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CEO’s Of Google, Facebook, And Twitter To Testify In Front Of Congress On Misinformation

This marks the first time the chief executives of Facebook, Google, and Twitter will be appearing before lawmakers since the Capitol riots and Covid-19 vaccine distributions.

Technology

Satya Nadella: Reshaping Microsoft and the Future of Technology

Though his executive decisions have inspired criticism, time has shown that under Nadella’s leadership Microsoft is poised to once again dominate the industry with a suite of innovative, useful products and services.

Apple Store

Tim Cook: Building on an Almost-Superhuman Legacy

Though he was a relatively unknown figure before Steve Jobs’ death, Cook, who considered Jobs a close friend and mentor, was nevertheless integral in the company’s success since he joined Apple in 1998.

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McDonald’s Chief Executive Steve Easterbrook Fired Over Relationship With Colleague

Fast food giant McDonald’s has fired its Chief Executive Steve Easterbrook following revelations of an affair with one of his colleagues, with the successful businessman admitting that he had made a ‘mistake’ regarding his conduct.

Despite both parties consenting to the relationship, the company deemed that Mr. Easterbrook had violated their company policy. It has been disclosed that he is likely to receive around 26 weeks pay against an estimated $16m annual salary and additional bonuses could see him pocketing somewhere in the region of $35m. As part of the exit arrangement, Mr. Easterbrook is not permitted to work for a competitor for a minimum of two years.

News of his departure was circulated to McDonald’s staff via an email in which the 52 year old admitted that he had made a mistake with regards to his conduct. The personally written email also said that he agreed with the board and that it was ‘time to move on’.

British-born Mr. Easterbrook first began working for the company back in 1993, taking up the position of manager in London. After working his way through the ranks, he left in 2011 to head up the popular restaurant chain Pizza Express, before moving on to Japanese restaurant chain Wagamama. However, in 2013, he returned to McDonalds to undertake the position of Head of UK and Northern Europe before becoming Chief Executive in 2015.

Mr. Easterbrook stepped down after the board voted on the matter, also relinquishing his roles as president and member of the board. Their view is that the company has long upheld rules regarding conflict of interest which were clearly ignored by Mr. Easterbrook when he decided to embark on a relationship with a fellow colleague. He was immediately replaced by McDonald’s USA president Chris Kempczinski.

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Many companies have such rules in place regarding relationships or at the very least require parties to disclose any romantic relationships that are occurring within the workplace. Experts say that the main driving factor is to avoid litigation caused by disgruntled partners if the relationship ends badly.

Observing the story unfolding, successful businesswoman and relationship expert Stephanie Tumba, author of ‘100 Dates and a Wedding’ commented:

“When you think how difficult it is to find love nowadays and that 1 in 5 couples meet at work, my view is that this decision was perhaps a little harsh and old-fashioned. Bear in mind that Bill Gates met his wife in the working environment, this stuff happens all the time. People shouldn’t lose their jobs and livelihoods over it.

Today, we live in a much freer world, a far cry from William Shakespeare’s forbidden love stories. Over the years, many taboos surrounding love and relationships have been lifted in most industrialised countries, and it would be naive to think that relationships are not blossoming between colleagues on a daily basis.

Embarking on a romantic relationship within the workplace means maintaining discretion and etiquette as a given. However, I think that sanctioning against such relationships can no longer be the default position. Employers should invite the employees to discuss this situation and then decide how to best deal with it. Whether it’s making them work in different departments and/or legally framing the situation.

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Of course, one can understand that an employer would be concerned that the behaviour of the couple could cause reputational damage to the organisation and create tensions between individuals, teams or departments. Even more so when one of the parties is in a prominent leadership position.

Whilst it is essential that a certain level of conduct is maintained in the working environment, I do not think that organisations can continue to contractually prevent people from nurturing romantic relationships with their colleagues.

Naturally, some inter-work relationships have ended badly. The relationship between President Bill Clinton and his intern Monica Lewinsky lasted for over 18 months and almost led to him losing his job. Several other politicians have found themselves in similar circumstances, all having potentially damaging implications for both the individual and the organisation, country or party they represent.

However, Stephanie’s comments appear to be mirrored in a growing number of people who appear to have no problem with an office romance. A recent survey revealed that 75% of those questioned believed that romantic relationships at work were not problematic. This view was also supported by research which reveals that over 30% of office romances lead to marriage.

In fact, Barack and Michelle Obama first met at a Chicago law firm, after Michelle was given the task of mentoring the firm’s new summer intern, Barack. Despite rejecting his advances at first, over fear that the only two African-Americans in the office dating would appear ‘tacky’, she eventually relented, getting married just four years later.