Conference Presentation, Fireside Chat, Panel
The Evolution of Leadership
Milken InstituteHeidi Toribio, Sharanjit Leyl, Marina Mahathir, Michael Owen, Igor Tulchinsky, John Wood
- Heidi Toribio opened the session by citing the second annual Milken Women's Leadership Summit, which identified three core themes: inclusion, inspiration, and adaptability.
- Toribio emphasized a shift from "diversity" to "inclusion," noting that the dialogue must move beyond inviting women to the table to actively listening to their contributions.
- Participants highlighted that finance professionals must shape infrastructure policies to ensure women and marginalized groups have access to sustainable financing.
- The summit addressed the need to balance embracing FinTech disruptions with understanding the associated risks to financial systems.
- Panelist Igo Tulsinski (WorldQuant) stated that leadership has evolved from a single-domain focus to a multidisciplinary role requiring the fusion of data, artificial intelligence, and prediction.
- John Wood (Room to Read) defined his leadership drive as a desire to "un-randomize" life, arguing that geography and parentage are the primary determinants of success, which he seeks to counteract.
- Wood noted that two-thirds of the global population out of school are girls and young women, making gender equity a central pillar of his organization's mission.
- He cited a specific lesson learned after leaving Microsoft: resilience is critical, specifically the ability to reframe "no" as "not yet" and maintain an "Always Be Closing" mindset.
- Marina Mahathir described her leadership approach as stemming from a "short attention span" necessitated by the need to navigate complex intersections of health, economics, politics, and human rights within the HIV/AIDS advocacy sector.
- Mahathir identified a specific challenge in the NGO sector: balancing the need for consensus and equality with the requirement to make decisive leadership calls without alienating stakeholders.
- She advocated for a "sideways way of empowering women" through a travel website to diversify avenues for female economic and social participation.
- Michael Owen (Former Footballer) recounted his evolution from player to leader, citing Sir Alex Ferguson at Manchester United as a mentor who balanced tactical detail with delegation.
- Owen observed that while leadership principles have remained constant, the methods of execution have shifted from hands-on management to delegating to specialized support staff (doctors, physios).
- He emphasized that confidence is derived from sheer determination and repetition rather than innate talent, allowing performance to consistently remain above 85%.
- Panelists discussed the impact of digital scrutiny and social media on modern leadership.
- Marina Mahathir highlighted that women leaders face unique abuse, including death threats and doxxing, particularly in conservative societies where they challenge patriarchal norms.
- John Wood proposed the "Warren Buffett Test" for the digital age: leaders should operate as if every decision will be published on the front page of the New York Times or social media, making transparency the default state.
- Michael Owen recalled the intense scrutiny he faced immediately after the 1998 World Cup, noting that modern social media has merely intensified an existing dynamic of public visibility.
- Leadership evolution regarding technology and inclusivity was a central topic, with specific examples provided.
- In Malaysia's recent general election, WhatsApp and Facebook Live were used to bypass mainstream media restrictions, allowing 250,000 people to view rallies that had only 80,000 physical attendees.
- John Wood revealed that Room to Read employs a 90% local workforce in low-income countries, ensuring leadership decisions are made by those most affected by them.
- Wood confirmed that 54% of Room to Read's global employees are women, with 56% of managers being female, including the second and third generation CEOs.
- Igo Tulsinski announced the launch of WorldQuant University, offering a completely free Master's degree in Financial Engineering to 2,500 students worldwide to democratize access to financial skills.
- Audience interaction focused on specific leadership mechanics and values.
- In response to a question about penalty shootouts, Michael Owen argued that the best penalty taker should take the first penalty, though the ultimate leader must possess the courage to take the final, highest-stakes kick regardless of personal discomfort.
- When asked about leadership in education, John Wood explained that Room to Read publishes over 1,600 original titles in 33 languages to ensure cultural relevance and reinforce positive gender values.
- Wood shared a story about a book written by a Syrian refugee titled "The Plane That Dropped Love," used to teach resilience and the importance of unity in conflict zones.
- Live polls conducted via the Milken app yielded the following data points:
- The audience identified "Passion" and "Commitment" as the most critical qualities of a good leader.
- Respondents agreed that the concept of leadership has changed to a "Great Extent" over the last 50 years.
- Accountability in the digital age received a perfect 5/5 rating for its impact on reducing leader credibility when mishandled.
- Closing recommendations for future leaders included:
- Marina Mahathir advised that sustainable change requires patience and the long-term building of support networks rather than expecting immediate results.
- Igo Tulsinski described the ideal future leader as a "gardener" who nurtures an ecosystem and can effectively utilize predictive technologies.
- John Wood defined the core test of character as how a leader treats those with no power to help them, such as taxi drivers or hotel staff, emphasizing humility and the deflection of personal praise to the team.