Sir John Peace CVO - Leadership lessons from the former Chairman of Experian, Burberry and Standard Chartered

Nottingham Business School Business Leaders

Nottingham Business Schools Business Leaders Podcast

Sir John Peace - Leadership lessons from the former Chairman of Experian, Burberry and Standard Chartered | Episode 25

Businessman Sir John Peace says the best leaders are people who can communicate, take risks and adapt to change.

But Sir John – who was Chairman at FTSE 100 companies Standard Chartered, Burberry and Experian – believes every truly successful leader has one other attribute… a moral compass.

In Episode 25 of Nottingham Business School’s Business Leaders’ Podcast, he says real leaders are inspired by the thought that they can do some wider good.

“Great leaders are driven to succeed not because it matters to them – how big their bonus is or what accolades they are going to achieve – but because they know it’s important for others,” he tells Honorary Visiting Professor Mike Sassi.

“They’ve all got a good moral compass.”

Since 2017 Sir John has chaired The Midlands Engine partnership, set up by the Government to bring business together to drive the region’s growth.

For more than a decade he has also been Lord Lieutenant of Nottinghamshire, representing The Royal Family in the county.

He says: “I took the role because it gave me an opportunity to help others.”

Born to a mining family in Mansfield, Sir John has enjoyed a stellar business career. He was chief executive of retail and financial conglomerate Great Universal Stores between 2000 and 2006, then consumer credit company Experian from 2006 to 2014.

“And every step of the way change has powered the decisions I’ve taken,” he adds.

His advice to young, would-be business leaders is simple: “You must be aware of the speed of change in the environment around you.

“It’s important not to have just one career… but multiple careers. I always knew, instinctively, when it was time to do something different.”

In this episode of the NBS podcast, Sir John says leaders should have the confidence of their convictions.

He tells the story of appointing a new chief executive at Burberry: “I brought in a lady from a very small retail business in the United States.

“I had just lost one of the best retail chief executives in the world. Investors were expecting me to bring in a new big-hitter… someone I would have to pay millions of dollars to attract.

“I didn’t. Instead, I brought in Angela Ahrendts from Idaho. For the first two years it was difficult… she wouldn’t talk to the press… she wouldn’t talk to investors… but she had something. She had qualities. And in the end, she became world-famous for her ability to build a luxury brand [Burberry].

“She stayed here for seven years… and only went back to America because Tim Cook paid her a very large sum of money to be his Number Two at Apple!”

Sir John believes it’s also important for leaders and managers to carry people with them – to persuade others that their decisions are right.

“All too often our politicians forget that,” he says.

“They think that because they are in power… what they should do is give out orders.

“I’ve never seen management like that. I used to have folks – at Burberry, or Experian or Standard Chartered – who would say to me, ‘Well what do you want us to do?’

“I’d say, ‘It’s not like that! It’s what we are going to do for each other… We are a team working together. I don’t just want to give instructions.’

“As a leader, you must listen to other people’s ideas as well as speak your own. If you can strike the right balance, then that is leadership… and you will carry people with you.

More about Nottingham Business School:

• Visit the Nottingham Business School website

• Follow us on LinkedIn