‘It’s about giving up some of that hierarchy of command and control power in favor of collaboration,’ says Daniel Crowley
At the 18th annual Board of Board event in New York in November last year, IR Magazine spoke with Daniel Crowley, chairman, president and CEO of the Pennsylvania-headquartered aerospace manufacturer Triumph.
As the event’s theme was ‘Purpose-driven leadership in a volatile world’, Crowley shed light on Triumph’s coping strategy to deliver its core purpose.
‘[During] the pandemic, [Triumph] lost 40 percent of [its] sales volume overnight and we had a big drop in our share price. It was an abyss,’ he told IR Magazine.
‘It was a critical time in the business to come together around three mandates: to keep each other safe, to keep our company safe and to partner with customers to get through it.’
Crowley also highlighted the pivotal role of investor engagement in upholding business purpose during turbulent periods and delved into the nuanced landscape of the anti-ESG versus pro-ESG debate, with a specific focus on initiatives like Scope 3 emissions reporting.
Finally, he shared some advice for fellow CEOs seeking to drive purpose in their businesses during challenging times.
‘The main thing is to trust your employees – whether they work in person or remotely, trust that they are aligned with what you’re trying to do as a leader,’ he said. ‘They can bring more of their energy and creativity if you respect them and engage them in what you’re trying to accomplish with the company.’
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