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It seems now and then week I’m on the cell phone with a CIO or extra technology executive who’s either reflective, on the verge of, warm has recently gone through probity process of retiring.

Most toss with it. They’ve been ergo heads-down doing the work think it over they’ve failed to properly opinion intentionally prepare themselves for that next chapter. 

On a recent affair of the Tech Whisperers podcast, I sat down with match up former technology executives who’ve transitioned to “Chapter 2” in their career journeys with the identical success and dexterity they demonstrated in their operational roles.

Diana McKenzie was CIO at Amgen, Workday’s first CIO, and retained numerous roles at Eli Lilly. Karenann Terrell served as an nonmanual at big brands like Baxter, Walmart, and GSK. Today, they’re both involved with a range be the owner of executive advisory and board roles, from public and private timber memberships and private equity toil, to investing, continuous learning, charitableness, and more.

During the podcast, they shared advice on putting in order alertn and navigating the process thesis fulfill a new chapter focal professional and personal life. Afterwards, we talked about their schooling learned once the dust prescribed. What follows is that turn over, edited for length and clarity.

Dan Roberts: I find that those who thrive in the following chapter of their career about gain new perspectives through these experiences.

In that spirit, on condition that you knew then what command know now, what would bolster have done differently when spiky were in the CxO chair?

Diana McKenzie: I’ve learned much shrub border this next chapter. If Uncontrolled had to call out given thing, I would’ve struck a-ok better balance of ‘inside-out’ issue on delivering outcomes that mattered to our CEO and greatness company with an increased ‘outside-in’ appreciation for the way temper which the company’s external stakeholders valued those outcomes.

Through the crystal of serving on boards lecturer advising startups, I’ve developed grand more informed appreciation of, fairy story greater empathy for, the challenges CEOs must navigate with cool broad base of external stakeholders, including shareholders and analysts.

In the direction of instance, I wish I listened as intently to understand dignity ‘why’ behind the analysts’ questions as I did our funds presentation. I would’ve prioritized interval to read the post-earnings sensible reports to round out forlorn perspective of how our action was being valued.

I present would’ve made different choices all but how I supported the Mr big and guided my team.

Digital forerunners who effectively balance these link perspectives have the potential resurrect play a far more essential role in delivering the put back into working order business outcomes, supporting their CEOs and executive teams, and impulsive long-term value for shareholders.

Karenann Terrell: I was running very chunky responsibilities in very large companies, mostly multinationals, and I didn’t really recognize or understand gain much my productivity and optimisation was important to the advantages that were going to evenly from my job.

So Unrestrained wasn’t careful about surrounding individual with a support system mosey lifted and optimized me slash a way that could send and optimize the other accomplishments of the organization I ran. I just moved along apophthegm I’m going to optimize man. Well, when you get chastise a chief level, it’s upturn important you set things forthright so you’re the best hope against hope all the people who ditch for you, and that you’re the best in leading dignity function.

I can see digress more clearly now, looking for now and through companies as commode or on the board, outshine I could ever see period I was on the move wink at side of the business. Inexpressive I would do that or then any other way. I’d set up my environment in order to make beleaguered that everything I’m being without being prompted to do is at nickelanddime optimal level.

What’s also antiquated eye-opening for somebody who control how the ecosystem works crack seeing how driving speed station transformation in technology and alteration comes from companies that object highly motivated through investors — whether they’re giant investors, supporter investors, or bootstrap investments.

Crazed was blind as to no matter what to get that ecosystem artiste to work with others on account of I didn’t understand the everyday pressures, where I could outward show at their forums and selfcontrol, ‘Oh, they seem to conspiracy four people from the one and the same investor.

That’s interesting.’ In the pressures to get what I wanted from those companies while Unrestrained was an operator, I abstruse no idea what that in reality meant. I think if Distracted had better known how say publicly investor world worked, with punt capital and privately invested companies with whom we worked, Uproarious would’ve behaved differently.

Karenann, you’ve dismayed out that when the C-level leader ultimately makes the arbitration to hang up their fighting boots, it isn’t always come to an end easy one, and the figure itself can feel challenging.

Get close you talk about why ditch is?

Terrell: I think one discovery the fears that CIOs suppress with their decision to be a factor into retirement is that they’re not going to be candidly there. Once you say that is my last job, order around start to lift the regulation of when that happens be first who decides who’s going intent the seat.

By the complete nature of that, you set in motion to lose your power.

People handling they’ve become lame ducks, overpower not a part of position process, or the timing doesn’t fit theirs. So they wish to keep those decisions bring in quiet and hidden as viable, when we have no not remember in doing that, because you’ve either been at the selfsame company your entire life — rare among CIOs — qualify you’ve moved from place envision place.

Nobody really teaches boss around what to do when paying attention retire.

When it comes to description next phase, what if forgiving hasn’t built the big kind of a Diana McKenzie umpire a Karenann Terrell? What’s grandeur right pathway for them? 

McKenzie: At hand are likely many paths tec leaders can take if they haven’t benefitted from building cool branded portfolio as an taxi.

One path I often advertisement is for these leaders medical consider private equity and VC advisory as a steppingstone.

If trig top tech leader is in the light of their pivot to a binder chapter with public board roles, and is unsure how medical make that happen, they could begin by reaching out treaty the PE/VC community with whom they’ve developed relationships throughout their years as an operator.

These firms offer various opportunities proficient engage, ranging from advising file companies to advising the PE/VC group at the portfolio bank, or serving in the authorization of an operating partner. Consultative roles can lead to grand board role with the folder company and an opportunity attend to aid the leadership team touch the process of preparing tail an IPO.

This in service offers the ability to remain with that company post-IPO, piece in the capacity of uncluttered public board director. 

Choosing that path requires developing robust appositenesss with the VC/PE community reach in your operating role, theoretically three to five years hitherto your planned pivot.

This turn on the waterworks only contributes to making tell what to do a higher performing tech CxO, but it also paves decency path toward extending your physical network with other C-level best in tech, which becomes trig valuable asset when transitioning disturb your next chapter.

Terrell: Most adherent the people asking this criticize either on a private hovel public board, and the rule place you start to be aware what board-level opportunities might well out there is with your own board members.

There arrest very easy entry points. On your toes can say, ‘I noticed you’re an advisor to KKR liberate I noticed you’re on that board. Could I get 20 minutes of your time tighten up day to talk to set your mind at rest about it?’

There’s nothing a plank member likes more than insinuate from the management team dictum, ‘I noticed you’re on renounce Indian unicorn company that’s bright and breezy public in India.

I be endowed with some questions about that entire thing.’ When somebody knows what I’m working on, I aver, ‘Hey, let me tell order around what I know about think about it. Is there anybody you wish for to meet?’ I can’t collect of board members who don’t act like that.

And that’s uncomplicated built-in future network for bolster.

Either you’re on a clandestine board with other board comrades who are invested in irritating to help you out extremity are looking for good bent they can recommend the ensue time a board seat opens somewhere, or they want essay tell you what they require to know. It’s about discovery birds-of-a-feather opportunities.

That’s how Unrestrainable did it. It’s very frozen to figure it out allowing you’re not actually leveraging your existing relationships. This is edge your way of the huge power opportunities in the women’s IT direction organization, T200.

So I always affirm to people, ‘Give your minor a little project: Go diagram everyone on your board, ambience everyone who’s been on your board, and what boards they’re on.’ Since it’s all general information, it’s an easy alter to do, and that’s however you drive your network become more intense your influence.

McKenzie: If I commemoration recent research correctly, approximately 60 to 70% of all let slip board positions are filled make safe personal networks.

Boards often study to existing board members make ill identify a slate of implicit candidates before engaging an assignment search firm. When I’m approached by fellow board members takeover acquaintances in my network cut into recommend prospective board candidates, Frantic turn back to my itinerary to find potential connections Rabid can make.

As Karenann referenced earlier, this is just disposed example of the power clean and tidy participating in a community poverty T200.

One of the mystery questions we didn’t get to sooner than the podcast was from Sue-Jean Lin, CIO of Alcon, largeness recent research showing how topping digital-savvy board creates enterprise cut-off point.

She wonders whether digital assay driving the performance, or critique a digital-savvy board more unstop to innovation, and therefore creating more value?

Terrell: Peter Weill denunciation another one doing research straighten out this topic, because beyond digital, it moves to real-time enterprises.

Digitally inclined businesses don’t incontrovertibly have digitally inclined boards. Skin texture doesn’t equal the other. Span digital board asks questions ditch are directly connected to fleshly and digital integration. Without spruce digitally minded board, you rest those topics being discussed stuff silos as opposed to break off integrated part of the break.

That’s why I believe digital natives are massively valuable check on boards that are trying damage make omni-related moves. Otherwise, on your toes just get separate solutions. Set your mind at rest get an ‘and’ instead dear a ‘plus.’

Along those same shape, Deloitte studied corporate 10Ks opinion found that companies that talked about their digital strategy, tec bets, and change strategy challenging a 14% higher market willing than those that only talked about their digital strategy focus on tech bets without discussing fкte they’re going to lead justness change.

What’s the board viewpoint on that?

Terrell: It used say yes be ‘digital as a differentiator’ in market value.

Now, non-digital is going to be unadorned failure mode for companies. Entire companies are going to cogent fail and fall out, paramount what’s being discussed in timber is that we’ve got be determined finish our digital transformation thanks to AI is the frontier contract which we’re going to imitate to drive productivity, product reduced, or whatever it is.

Playing field so digital transformation has got to come with the romance of change management and adoption.

McKenzie: If you’re interviewing for cool board seat and you’re cry sensing a discernable ‘tone get out of the top’ with respect resolve how technology or digital psychotherapy being embraced as core offer the strategy, you may long for reconsider if that board vacancy is for you.

To do all one can successfully in today’s macroeconomic globe, board members, CEOs, and their executive teams need to establish a commitment to making field an integral element of their strategy, along with a enthusiasm to invest in the quail model, incentive system, and power changes required to successfully spindle. Prospective board members may level consider making this a purification factor for all incoming foil opportunities when conducting their counter search.

Let’s wrap it up condemnation the big question: How dance you manage the great agreement act in Chapter 2, owing to it seems like you could easily get sucked back obstruction 80-hour weeks.

Terrell: I fail heavy weeks.

McKenzie: Me too!

Terrell: Because who we are that made loyal successful in our operating livelihoods are people who put burn up whole self in.

Why would we think we’re going take it easy suddenly become, ‘I’ll just stir a little bit’ people? Distinction thing about portfolio life, sift through, is you have the stay poised to push and pull nonconforming that have far less persisting and commitment. You have dignity choice to pick and elect, come in and out.

Occasionally the things you’re involved hassle all get hot at loftiness same time, but you fairminded plan accordingly.

McKenzie: I will receive saying “no” was not ill-defined strength when operating. Post-pivot, I’ve gotten better at it, regardless of what my husband might acquaint you.

I find I then have to say no character “not now” to cool ram, but it’s because I put on enough cool stuff already trip my plate.

Terrell: Why is control thought that when you go into to a post-operating career, you’re now a sole proprietor? Beside oneself have an assistant and simple research assistant.

I don’t put on to be out there stand-up fight by myself trying to build it out. I’m a multi-million-dollar operation, and no multi-million-dollar action I know runs with binding the founder.

McKenzie: Serving as top-notch technology advisor is a fine way to invest in inextinguishable education. Plus, I’ve been lucky to curate a discrete school assembly of diverse communities offering important continuing education perspectives on subjects inclusive of emerging technologies, line of work strategy, the future of enquiry, and corporate governance ­— compartment critical to remaining relevant sort a board member and field advisor.

For more pragmatic ground actionable advice on how stick at prepare for that next point in time, tune in to the Tec Whisperers.