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How Leaders Lead with David Novak

#195: Charlie Scharf, CEO and President of Wells Fargo – Set the right example

How Leaders Lead with David Novak

David Novak Leadership

Entrepreneurship, Business, Management

4.8596 Ratings

🗓️ 11 July 2024

⏱️ 55 minutes

🧾️ Download transcript

Summary

Every leader casts a shadow.  As a leader, you can’t just SAY what your priorities and values are (although that’s crucial). You’ve got to set the example yourself, so your decisions and actions align with those priorities.  To see how it’s done, listen to this conversation with Charlie Scharf, the CEO and President of Wells Fargo. He took over in 2019, which, as you may recall, was a real low point in the company. Hit play now to hear how he’s leading the turnaround there — and why leaders can accomplish SO much more when they set the right example for their teams.  You’ll also learn: How to drive change in a culture of complacency The key factor most people overlook in a turnaround What really defines your culture (it’s not what you think) Why it’s OK if your career path isn’t a straight line Take your learning further. Get proven leadership advice from these (free!) resources: The How Leaders Lead App: A vast library of 90-second leadership lessons to stay sharp on the go  Daily Insight Emails: One small (but powerful!) leadership principle to focus on each day Whichever you choose, you can be sure you’ll get the trusted leadership advice you need to advance your career, develop your team, and grow your business.

Transcript

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0:00.0

Welcome to How Leaders Lead where every week you get to listen in while I interview some of the very best leaders in the world.

0:10.4

I break down the key learning so that by the end of the episode, you'll have something simple you can apply as you develop into a better leader.

0:18.5

That's what this podcast is all about.

0:22.9

You've probably heard the tongue and cheek expression, do as I say, not as I do. And you've probably worked with people who

0:30.0

lead that way, saying one thing, but doing something entirely different. Well, my guest today is not that kind of leader. Charlie Sharp is the

0:41.1

CEO and president of Wells Fargo. He took over in 2019, which, as you may know, if you follow the

0:49.0

banking industry, was a real low point in the company. But listen, the turnaround he's leading there is remarkable,

0:57.1

and you're going to hear all about it today. You'll also hear a leader who understands that you

1:02.8

can't just say what your priorities and values are, although that's crucial. You've got to set

1:09.3

the example yourself so your decisions and actions

1:12.5

align with those priorities. That's how you earn the respect and trust you need to get people

1:18.1

working together and following you and believing in you. Let's see how it's done. Here's my

1:25.0

conversation with my good friend and soon to be yours, Charlie Shorth.

1:33.8

You know, Charlie, I knew you were into tennis. I knew you were into golf, but I learned

1:41.3

that you're also a woodworker. And you're the only leader I know who's a woodworker.

1:47.3

What's the best thing you ever made?

1:49.2

Best thing I ever made was I built a library in a house I owned years ago.

1:54.3

And when I say built, I raw wood delivered to the house, started from scratch,

1:59.8

created my own molding, built shelves, and I gather

2:03.3

it's still standing because we know the people that own the house.

2:05.6

That is so great.

2:06.9

And I got to ask you, what's an essential skill in woodworking that you've carved into your

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