Planning for Failure: The Uncertain Future of Leadership in the Pharma Industry
In a recent article for Pharmaceutical Executive, author Michelle Maskaly recounts the content of a recent panel discussions at the FT US Healthcare & Life Sciences Summit in New York City, where executive recruiters presented thoughts on the characteristics that future pharma leaders will possess. Specifically, she focuses on one quality: the ability to bounce back from failure.
According to Maskaly, “panelists explained that the pharma industry is on the brink of disruption, and future leaders in the field will need to have the skill set to deal with this type of business experience.” Unlike traditional leaders, who develop a vision and align people around it, upcoming leaders in the pharma industry will need the ability to fail and recover, a willingness to listen to the opinions of others, and the skill of rapidly adapting to new and changing circumstances, explained the panelists. One member of the panel, Janet Vergis, former CEO, OraPharma, and executive advisor to private equity, brought up the potential of the millennial skill set to succeed particularly well in the disrupted future environment of the pharma industry.
For more details, read the article in full at Pharmaceutical Executive.