As the former Chair and CEO of a large multinational corporation headquartered in Canada, I’ve received my fair share of criticism over the years from the…
Sometimes, even when you do well you still get criticized. At one of Magna’s shareholder meetings, a representative from a large institutional investor stood up and read out loud a detailed critique of Magna’s dual-class share structure — something they were fully aware of when they purchased the stock. I’m pretty sure the investment firm had done quite well from their investment, especially since Magna had just posted record sales and profits, and the stock was up nicely year over year.
Over the course of my career, I’ve also been the subject of a lot of media coverage and some of the potshots I’ve taken have come from reporters. I should state upfront that I believe the media plays a vital role in informing citizens and serving as a check and balance on the activities of business and government. I also believe that a free press is a cornerstone of a free and democratic society.
The truth is, the world is full of critics, but there are very few people who come forward with constructive solutions and then submit those solutions to public scrutiny. It’s what I’ve tried to do over the course of my career, and I’ve encouraged others to do so as well. We need fewer fault finders and more people with good ideas and the courage of their convictions.Article content
It’s easy to sit back and criticize. But that’s not what leaders do. They continuously put their heads on the chopping block to advance ideas or initiatives that they think will improve society or make their business better. They are constantly striving to move forward, knowing all the while that there will always be a small group of individuals shooting poison arrows at their back.
It’s the price you often pay for success — but it’s a small price in comparison to the many financial and emotional rewards you get from doing a job well and creating something of lasting value.Frank Stronach is the founder of Magna International Inc., one of Canada’s largest global companies, and an inductee in the Automotive Hall of Fame
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