Harry Kraemer on Leadership

Recently, Poets&Quants sat down with Harry to learn more about what makes a great leader — and to see what makes Harry tick:

“Harry Kraemer doesn’t fit the profile of a Fortune 500 CEO. Forget an imperious swagger or impersonal bent. When you cross paths with Kraemer in Kellogg’s Collaboration Plaza, it is like greeting a long-lost but fondly remembered friend. There is the inviting smile and reassuring handshake. His first instinct is to find out how you are. When you ask the same, he’ll sprinkle your name or “my friend” throughout his response. Most charismatic people absorb energy, but Kraemer refracts it, imbuing others with a gusto that washes away their temporary woes.”

Read the full article here.

Harry shares his thoughts on the succession plan to replace outgoing General Electric CEO, Jeff Immelt:

General Electric CEO Jeff Immelt is stepping down in August, ending his 16-year tenure as the leader of the $120 billion company. It’s a textbook case of succession that could greatly improve the chances of success for John Flannery, the 30-year GE veteran tapped to replace him.

This sets up a quick and seamless transition as Immelt has promised, contrasting sharply with the drawn-out way GE’s iconic CEO Jack Welch chose his successor, which took more than six years — much of it in the public eye. Eventually, it came down to a three-way “horse-race” among internal finalists. At the time, it was called the “most closely watched, highly anticipated, and frequently second-guessed corporate succession drama ever.” The process was so public, the other two finalists ended up leaving GE for leadership positions in other companies after Immelt was chosen in 2001, creating a void for him without these strong executives. This time around, after Flannery was announced, Steve Bolze, head of GE’s Power business, has announced his retirement after not nabbing the top job (here’s a letter Bolze wrote his colleagues on his decision to retire).

Read Harry’s full article here on Fortune.com.

In a recent Fortune article, Harry shares his thoughts on the importance of values-based leadership in assembling the “best team”:

“As a former chairman and CEO of a $12 billion health care company, I can attest that finding the right talent for the team is one of the biggest challenges for any leader, as well as one of the most important responsibilities. And leaders can’t just rely on their own “gut” or previous experiences in picking the right candidates, as Donald Trump discovered when he appointed Michael Flynn as his national security adviser.”

Read the full article here.

From near priesthood to CEO of Baxter and now professor at the Kellogg School of Management, a recent profile piece by the Northwestern Office for Research delves into Harry’s upbringing and explores what makes him tick:

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It’s midnight and the house is quiet. Harry Kraemer Jr. is sitting in his study, reflecting on the day’s events — good, bad, indifferent—and filling a journal with his observations.

He’s done this most evenings for years, even back when his five children were all still at home here in Wilmette, Illinois; even when he was chairman and CEO of Baxter International, then a $9 billion global healthcare firm with more than 50,000 employees in 100 countries. He works it in now despite busy days as an executive partner at Madison Dearborn, the Chicago-based private equity firm he joined in 2005, after 23 years with Baxter. The notebook is part of a disciplined routine and values-based leadership model that Kraemer extols in his books, blog, and at the Kellogg School of Management, his alma mater, where he teaches in the MBA and Executive MBA programs.

Read the full piece here.