Good morning.
It’s been almost a decade since I started writing this daily newsletter, and it will be two more weeks before I stop. So bear with me over the next fortnight as I offer a few final thoughts.
The business world has changed dramatically in the last decade. The technology transformation is well documented elsewhere. But what I’ve found from countless roundtable discussions with CEOs is that conversations purportedly about technology very quickly devolve into conversations about people. How do I lead in this period of unprecedented change? How do I get my team to embrace the transformational potential of technology rather than resist it? How do I push responsibility and decision making to the edge—essential to cope with rapid change—while ensuring my employees are engaged, inspired and aligned with the company’s mission and values as they drive the business forward?
In CEO Daily, and at Fortune more broadly, we have tried to help leaders answer those questions. Our reporting, our storytelling, our benchmarking, and our convening are all intended to serve the same goal: to make business better. How well we succeed is left for others to judge. But I have asked a few CEOs to take a stab at the question: What makes Fortune important and relevant to you in today’s world? I’ll share their responses over the next two weeks. A few to start:
“Fortune is critical to the business world, not just chronicling vast movements, but steering thought leadership and innovation. In an era where disinformation is abundant and wisdom is scarce, Fortune distinguishes itself by not only reporting on the global economic landscape, but by providing the very insights that shape it.”
—Albert Bourla, CEO, Pfizer
“In a business news environment largely defined by headlines and sound bites, Fortune provides deep insight and sharp perspectives to explain today’s challenges so we can better anticipate tomorrow’s opportunities… [It] cuts through the noise to make sense of what matters in business.”
—Karen Lynch, CEO, CVS Health
“Business leaders today must be comfortable adapting to uncertainty and rapid change. Fortune is a trusted resource when it comes to navigating that change, with timely insights, rich storytelling, and rigorous rankings to hold company accountable. I admire their commitment to not only report on the state of business, but to make business better for generations to come.”
—Ed Bastian, CEO, Delta Air Lines
More to come. News below.
Alan Murray
@alansmurray
alan.murray@fortune.com
TOP NEWS
Exposed foundations
Elon Musk’s tunneling startup, the Boring Company, forced a temporary halt to Las Vegas’s monorail last June after workers exposed the foundations of two support pillars. The issue was quickly resolved, but Boring workers exposed the base of another pillar in October. Fortune has previously reported on unsafe working conditions at the Boring Company’s worksites. Fortune
The end of GE’s leadership academy
GE has sold its Crotonville management training academy just outside of New York City. The company opened the 60-acre campus in 1956, but GE Aerospace CEO Larry Culp now says the campus doesn’t make sense after GE’s split into three separate firms. Other companies, like Boeing and 3M, are hoping to sell their leadership retreats, preferring instead to host training over videoconferencing software or at external hotels. The Wall Street Journal
Apple’s slump
Apple has lost its crown as the globe's top smartphone brand after sales slumped early this year. Samsung was the top seller of smartphones in the first quarter of 2024 with 20.8% market share, according to research firm IDC; Apple had 17.3%, ahead of Chinese smartphone maker Xiaomi's 14.1%. Apple faces fierce domestic competition in China, one of its most important overseas markets, from brands like Huawei and Honor. Reuters
AROUND THE WATERCOOLER
Boeing’s CEO search has a new front-runner—and insiders say it could mean a radical change for the $104 billion ailing planemaker by Shawn Tully
The steep pay gap between the U.S. and U.K. is real—just look at how much Exxon Mobil and Chevron chiefs make compared with those at Shell and BP by Prarthana Prakash
Commentary: America is the undisputed world leader in quantum computing even though China spends 8x more on the technology–but an own goal could soon erode U.S. dominance by Jungsang Kim and Christopher Monroe
This edition of CEO Daily was curated by Nicholas Gordon.
This is the web version of CEO Daily, a newsletter of must-read insights from Fortune CEO Alan Murray. Sign up to get it delivered free to your inbox.
