Ex-Merck CEO Ken Frazier says CEOs must uphold American values | Disney CEO Bob Iger said he's trying to ensure a 'soft landing' for ESPN's shift from cable to streaming | 1 venture capitalist vs. 7 marathons in 7 continents in 7 days: Here's how this man ran one of the world's hardest races while working 80-hour weeks | Gen Xers will start heading into retirement soon, and things are looking grim

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� � � � � � You Might Like � � � � � � � � � Ex-Merck CEO Ken Frazier says CEOs must uphold American values - Fortune    Good morning.Our guest this week on the Leadership Next podcast was an ex-CEO whose career I consider to be a profile in courage. So allow me to take a little more space than usual to share some of what he had to say. He is Kenneth Frazier, former CEO of Merck, who held that job for 10 years before retiring in 2021 and joining General Catalyst. Here’s the story he told about his first year on the job: “I took over Merck January 1, 2011. At that time, Wall Street was encouraging CEOs in the biopharmaceutical industry not to invest in R&D. There was a company called Valeant, you’ll remember, whose stock was going through the roof, and their philosophy was we don’t invest in science, we invest in management.   “My company had five-year EPS (earnings per share) guidance. Twenty-five days into the job, I decided that was the wrong thing for Merck, in the long term. So I called my board and I said: ‘You don’t really know me that well. But I just want to let you know, I intend to withdraw the last three and a half years of EPS guidance.’…The board went into executive session, and I called my wife and said ‘Honey, don’t buy the expensive Formica, okay? It’s not clear how long this is going to last.’ But they let me stay, and the stock plummeted…And every time a share of Merck stock got sold, somebody bought it, and the people who bought it were patient, long-term shareholders for a company that would invest in R&D.” Continued here Disney CEO Bob Iger said he's trying to ensure a 'soft landing' for ESPN's shift from cable to streaming - Fortune    Disney CEO Bob Iger has promised in every earnings call this year that ESPN will soon go “direct-to-consumer,” making the cable TV sports channel finally available as a standalone streaming product.   But tinkering with ESPN is a delicate matter given that it accounted for one-third of Disney’s operating income in the most recent quarter. On Wednesday, Iger likened it to a “soft landing” and outlined how he intended to position ESPN to capture digital dollars without blowing up its existing TV business. “Our plan for when we bring ESPN to direct-to-consumer is to have a soft landing,” Iger said in a conference call. “We’ll continue to make it available in the [pay-TV] bundle and make it available in a true, a la carte basis in its DTC form.” Continued here Don't like ads? Go ad-free with TradeBriefs Premium 1 venture capitalist vs. 7 marathons in 7 continents in 7 days: Here's how this man ran one of the world's hardest races while working 80-hour weeks - Business Insider    "If it's not extreme, I'm almost not interested," said Moritz Baier-Lentz, a venture-capital partner who ran seven marathons on seven continents in seven consecutive days in February. Baier-Lentz is a partner at the venture-capital firm Lightspeed Gaming with over $29 billion in assets under management. After completing multiple marathons, Ironman Triathlons, and ultramarathons, Baier-Lentz set his sights on the World Marathon Challenge. The challenge is to complete seven marathons in seven days on seven continents. Continued here Gen Xers will start heading into retirement soon, and things are looking grim - Business Insider    Our experts answer readers' investing questions and write unbiased product reviews (here's how we assess investing products). Paid non-client promotion: In some cases, we receive a commission from our partners. Our opinions are always our own. Retirement should be the time of life where you can sit back and enjoy the fruits of your labor. But making this a reality requires planning and targeted financial management. The oldest members of Generation X, defined as those born between 1965 and 1980, will be retiring from the workforce in the coming years. But, as illustrated by a report from the National Institute on Retirement Security, many Gen Xers are less prepared for retirement than both older Baby Boomers and younger millennials. Continued here

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