The Ultimate Test in Radical Humility: Are You Ready to Replace Yourself?

In 2009, during the heart of the financial crisis, Mastercard faced a crucial decision:

Appoint a new CEO.

This decision was not just about immediate leadership but also about looking into the future.

Rick Haythornthwaite, the Chairman of the Board at the time, and the external CEO candidate, Ajay Banga, had a conversation that was truly forward-thinking.

They discussed not only the current CEO role but also envisioned the next one (10 years down the road).

They were determined not to have to look outside the company for the next leader.

This remarkable long-term perspective solidified their partnership.

Ajay took on the role and, over the next decade, achieved incredible results - tripling revenue and growing the market cap tenfold.

Fast forward to 2020:

With a carefully planned succession process, Ajay handed the reins to Michael Miebach, a seasoned Mastercard executive. Ajay's tenure began with the goal of replacing himself.

Ajay's journey as CEO began with a clear goal in mind: to replace himself.

It's a powerful lesson in Radical Humility for all of us.

Succession planning isn't just about the here and now; it's about securing the future of your organization.

As leaders, we must always be thinking ahead, grooming talent within our ranks, and ensuring a seamless transition for our organizations to thrive.