Unexpected Advice from Am Ex’s Chenault
Chenault and Dean Jay Light at Class Day ceremonies.
Photos by Stuart Cahill
Of all the attributes tomorrow’s leaders will need to manage through good times and bad, one took center stage in American Express chairman and CEO Kenneth Chenault’s Class Day address to 900 members of the MBA Class of 2007 on June 6. “This may not be obvious,” he remarked, “but a good leader needs to be caring.”
Caring leaders work hard not only to understand the people who work for them, but they also look beyond the day-to-day responsibilities of leading a business, he continued. “Leadership means caring about the health and well-being of the communities in which you and your employees live and work.”
Chenault grounded his advice in what he called the “unspoken compact” between business and society at large. “Society allows us to operate in ways that deliver good returns to our shareholders. In exchange, we have an obligation to do things the right way — to conserve, renew, and enhance society’s resources, not just consume them.”
A 26-year veteran of American Express, the last six as chairman and CEO, Chenault posed this leadership challenge: “I urge you to put service at the center of your life. Do not treat it as a hobby or afterthought. Make it part of your professional lives.”
Commencement on June 7 marked a joyous occasion for 900 MBAs from 68 nations.
Prior to Chenault’s address, student speaker Paul Hunyor reflected on his years at both HBS and the Kennedy School of Government.
The Class of 2007 honored four faculty members for excellence in teaching: Professor David Moss (Business, Government, and the International Economy), Professor André Perold (Finance), Professor Bharat Anand (Corporate Strategy), and Professor Youngme Moon (Consumer Marketing).
At Commencement the following day, students from 68 countries received MBAs, and five received DBAs. In conjunction with the Harvard Graduate School of Arts and Sciences, twelve were awarded Ph.D. degrees.
