I’ve spent a fair amount of time and space here talking about corporate CEOs who make some rather head-scratching and selfish moves and come away looking like villains. A case in point would be a story that came out today about executives at Hostess apparently getting bonuses adding up to $1.8 million on top of their salaries while their company goes into liquidation, all with thousands of Hostess workers going without a job.
But it’s the workers getting the blame for Hostess going out of business, when if you dig deeper into the facts it looks more like a case of Hostess going out of business because of shoddy, greedy leadership.
Those are the kinds of executives who give the good execs a bad name. But there are good execs out there, ones who realize there’s a correlation between treating customers right while recognizing that treating their employees right is just as important, if not more so.
They’re the kinds of executives who realize that the best employees are happy employees, and happy employees turn into great ambassadors for the business.
One example of a CEO who fits that mold has been getting quite a bit of attention on the worldwide web lately through a picture that talks about his business practices. The sad part is that this CEO is actually no longer a CEO, due to the glory of retirement. It’s sad because we need more CEOs like him.
I’m talking about Jim Sinegal, who helped found Costco and built the warehouse store into one of the top businesses in America.
To loyal Costco customers and employees, Sinegal is the equivalent of a rock star. To all too many people on Wall Street, he’s considered a bad guy.
There’s something very wrong with that picture.
- Hostess seeks sweet bonus deal for top executives (nbcnews.com)
- Bankrupt Hostess Wants To Reward Executives With $1.8 Million In Bonuses (consumerist.com)
- Costco (snopes.com)
- High wages don’t mean low profits – and Costco proves it (current.com)
- Joe Biden Goes To Costco (buzzfeed.com)
- Worthy of Their Hire (obsidianwings.blogs.com)
- How The Costco CEO’s College Job Turned Into His Big Break (businessinsider.com)
- This Formula Made Costco The Anti-Walmart (businessinsider.com)