How One CEO Successfully Led a Digital Transformation:
Nancy McKinstry is the chair and CEO of Wolters Kluwer. The Dutch multinational began as a publishing house way back in the 1830s and has grown into a global information services company. When McKinstry became CEO in 2003, the company earned 31% of its revenue from digital products. Today, it’s 91%. The company’s stock price has doubled over the last three years.
And that performance is a big reason why McKinstry is ranked as the top woman on HBR’s list of the 100 Best-Performing CEOs of 2019.
Some excerpts from her interview to HBR IdeaCast:
“I would say first and foremost really engage with your customers. Because I think sometimes you can go down these transformations and you might expect your customers to be doing certain things, or adopting things in a way that is not going to be the case.
So you have to stay really close to your customer during the journey to make sure that you’re not way too far out in front, or you’re not investing in things that maybe aren’t going to pay off. So that close proximity to customers is very critical.”
- Be Data Driven
- Appreciate the Team Work
- Take risk and Innovate
- Clear Communication in your Strategy
- Explore the unknown territory
- Support and encourage the diversity