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On the issue of stability of Wall Street CEOs, while hoping for cultural changes in the financial sector

On the issue of stability of Wall Street CEOs, while hoping for cultural changes in the financial... Purpose – This paper aims to open up dialogue between several popular non-fiction books written on Lehman Brothers – and its chief executive officer (CEO) Dick Fuld in particular – and the academic literature on leadership and organizational culture. Design/methodology/approach – Vicky Ward’s book The Devil’s Casino is examined closely to understand the influence of the bank’s CEO on the organizational culture. Findings – A notable instance of coupling is highly recurrent in the book, linking the personality of Dick Fuld with his top management team and Lehman Brothers’ employees. Originality/value – Focusing on the CEO’s personality, this article engages with the academic literature allowing for a distinct problematization of the issue, and a potential resolution: the importance of changes in leadership to trigger an evolution in Wall Street’s culture. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Society and Business Review Emerald Publishing

On the issue of stability of Wall Street CEOs, while hoping for cultural changes in the financial sector

Society and Business Review , Volume 10 (1): 8 – Feb 9, 2015

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References (10)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1746-5680
DOI
10.1108/SBR-12-2014-0057
Publisher site
See Article on Publisher Site

Abstract

Purpose – This paper aims to open up dialogue between several popular non-fiction books written on Lehman Brothers – and its chief executive officer (CEO) Dick Fuld in particular – and the academic literature on leadership and organizational culture. Design/methodology/approach – Vicky Ward’s book The Devil’s Casino is examined closely to understand the influence of the bank’s CEO on the organizational culture. Findings – A notable instance of coupling is highly recurrent in the book, linking the personality of Dick Fuld with his top management team and Lehman Brothers’ employees. Originality/value – Focusing on the CEO’s personality, this article engages with the academic literature allowing for a distinct problematization of the issue, and a potential resolution: the importance of changes in leadership to trigger an evolution in Wall Street’s culture.

Journal

Society and Business ReviewEmerald Publishing

Published: Feb 9, 2015

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