Graceful Exits: Knowing When and How to Go
This past week, 25 year old Justine Henin retired from tennis at the top of her game. Ranked number one in the world, she had been struggling in recent months and said she had lost her drive for the game she had dominated. She is the first No. 1-ranked women’s tennis player in history to walk away while in the top spot.
The young woman who won 41 singles titles including seven grand slam victories said, “I had reached my limits, and I feel strong and relieved that I could take this decision,” she said. “There are plenty of things that I can do. There are no regrets. I did everything I had to do in tennis.”
"It’s my life as a woman that starts now," she added.
One of the biggest challenges leaders in any business face is knowing when they have reached the top of their game and when it is time to go. In making those decisions, it is helpful to remember that two of the most important impressions we leave are those that are the first and last.
When we enter a situation, it’s the messages we send, the values and principles we live, the realities we create, and our leadership style that people remember. When we exit, we again are creating lasting impressions of how people will remember us.
Determining the right time to exit starts with a deep awareness of our selves. Are the personal indicators there: Have I reached the end of my development? Have I made the greatest impact I can make? Am I aligned and bringing value with the intentions, direction and goals of the organization or effort I have been leading? Have I given all that I can give?
Justine Henin asked herself those questions and when the answer was “yes” she exited immediately. No long good-byes. No farewell tours to feed her ego. While many around her were confounded that anyone would leave at the top, she set an example of courage and self-awareness.
Meg Whitman retired from eBay on March 31st, two months after announcing her plans – no long good-byes for her either. Following a highly successful growth period under Whitman, the company now finds itself on the precipice of a new phase. Whitman decided it was time for new leadership and vision to guide the company’s direction and she made good on an early pledge not to stay longer than 10 years.
Whitman told Lesley Stahl in an interview that 10 years may not be the right exit time for all CEOs in all industries, but for her, it was the right time. “[I]n our industry, the pace of change is so fast, the underlying technology changes so fast, and these companies are growing so fast, that I think 10 years is a good time to step back and say, "Would the company benefit from a fresh set of eyes and new leadership skills?" and "Would it be the right thing to transition to a new leader?"
Whitman says this is her last business job. She is exploring philanthropic ventures and is rumored to be interested in politics, perhaps making a run for California governor. In the meantime, she has signed on as national co-chair of John McCain’s presidential campaign.
Great and respected leaders are intentional about time to exit as Whitman was. They are sensitive to and externally aware of leadership and whether they are still bringing value and goodness to the greater whole versus themselves.
Where is the organization in its development? Is it in a growth phase or a transition? Are you the best person for the current stage? Do you have more to give? Or is there someone on your team or someone you know that is able and willing to step into your role for the next stage, bring a different perspective or extend your vision to another level? If so, it may be time to move on. You may have made your greatest impact in your current organization and you would provide greater value somewhere else.
In his groundbreaking book Good to Great, Jim Collins uses the term Level 5 leaders when referring to the highest level of leadership capabilities. He writes “Level 5 leaders channel their ego needs away from themselves and into the larger goal of building a great company. It’s not that Level 5 leaders have no ego or self-interest. Indeed, they are incredibly ambitious – but their ambition is first and foremost for the institution,not themselves.”
Leaders who lead selflessly are those who inspire everyone around them to be great – and who build great organizations. Executives who lead for themselves and not others are less authentic and less inspirational. Do you have the courage and awareness to look at your situation honestly? Be sensitive to the perceptions and needs of those around you and personally aware of what’s driving you to stay. If you get stuck in your position for your own personal reasons, you are not leading.
Have you given all you can give of yourself? To the organization? If so, it’s time to look at what’s next. You’ve hit a wall and by staying in one place, you become stuck and limit your potential (personal and professional). Making an exit is a hard task. We often derive a sense of power and confidence from our position and title. But, in today’s world of reorganizations, mergers and acquisitions, things are constantly changing and we need to be ready to respond to those external changes as well as the changes within. By not locking yourself into a position or title, you will be more aware of the situation around you, changing dynamics, and new opportunities in what lies beyond.
Great leaders have the courage, the agility, the curiosity to find out what’s on the other side of that wall. Leadership is a continuous journey with continuous learning.
Meg Whitman will continue her learning, following her passions and embarking on a new journey outside of business. At just 25, Justine Henin showed a remarkable poise in making her own decision to exit. While this probably won’t be the last we hear of her, she made quite a last impression upon her exit from tennis.
John MacKinnon of The Edmonton Journal wrote “When Justine Henin announced her retirement last week, the No. 1-ranked female tennis player demonstrated that her command of her life is as sure-handed as her sporting dominance once was.”
Larry Scott, chief executive of the WTA Tour said "It is rare that an athlete leaves at the very top of her game in this day and age, but Justine has always played by her own rules, in the very best sense of those words."
Leadership is a journey. The essence of great leaders is continuous learning, change and opening doors for others. How do you want to be remembered?
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