Executive Stress—Taboo or Opportunity for Change?
In November 2011, Antonio Horta-Osorio, CEO of Lloyds Banking Group, suddenly collapsed in a board meeting. He went on sick leave due to fatigue and did not return to his job for several months. The media talked about a shock departure.1 A year earlier, Horta-Osorio had been headhunted to turn around Lloyds Banking Group, which was in crisis. With the “savior” having taken leave,2 the market value of the bank plummeted by close to $1.5 billion.3 Board members, shareholders, employees, and the media agreed that a CEO position is indeed a high-pressure job. Lloyds’ chairman Win Bischoff said at the time: “We are not going to mollycoddle him. If you can’t take the heat, get out of the kitchen. But I believe Antonio can stand the heat. I expect CEOs occasionally to be tired.”4 Horta-Osorio had worked seven days a week, without a holiday, for over 40 weeks.5
KeywordsSick Leave Senior Executive Workplace Stress Executive Coaching Affect Control
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