Stories about the unraveling of Wall Street’s one-time wunderkinds and winners keep shooting like cannonball fire. Today’s casualty in the war on Wall Street is Merrill Lynch’s John Thain, ousted from a now infamously plush office that was redecorated as the company was busily firing employees. Certainly this is not how a top Wall Street executive ought to make his career exit, espeially when his career entrance and ascendence were filled with such promise.
Were I John Thain’s image consultant, you may think my concern would be whether his selection of suits, shirts and ties projected his appropriate visual image. You’d be correct. But executives at this level need more than a butler; they need to rely on trusted advisers to ensure their choices are practical. After all, someone heading up a multibillion dollar corporation needs other people to help manage details like whether or not his own office needs to be redecorated while the company is laying off employees and while asking the government for a bailout loan. Acting out of a sense of entitlement can tarnish an executive’s image. At times, I have advised clients to exercise restraint out of respect for dire circumstances. In this case, Thain’s office makeover was ill=advised, as it wasn’t paid for out of his own pocket.
Corporate chiefs will always earn many times more than the average employee. The perceived value CEOs deliver to shareholders and to companies substantiate their salaries and stock options. Executives should take an interest in their personal growth, especially during these challenging times when everyone’s leadership is being tested. It can only add value to their level of professionalism.
Designing your image is the secret science to your success.
Joseph Rosenfeld helps professional men and corporate workgroups create effective visual brands. Visit JosephRosenfeld.com for details.