Alumnus to Graduates: “You Can’t Do It Alone”

John Edwardson, ’72, chairman and CEO of technology giant CDW, urged graduating students to know what they want out of life, how to make it happen, and to realize it takes teamwork to become a successful leader.
           
Edwardson made his remarks during his alumni address at the Chicago Booth Diploma and Hooding Ceremony on June 11 at the Arie Crown Theater. Faculty speaker Richard Thaler, Ralph and Dorothy Keller Distinguished Service Professor of Behavioral Science and Economics, encouraged students to find a career path that’s enjoyable and to support only business practices that are scrupulous and fair to consumers.
           
Edwardson said his journey to the helm of America’s 39th largest private company taught him meaningful lessons in what it takes to be a successful business leader.
           
“You can’t do it alone - you must excel at teamwork,” he said.
           
By the age of 34, Edwardson was chief financial officer of Northwest Airlines, inching closer to his dream of becoming CEO of a major US corporation.
           
“I often thought I was the smartest person in the room,” said Edwardson, who serves as chairman of the Advisory Council of the University of Chicago Booth School of Business.
           
About a year into the job as Northwest’s CFO, Edwardson said the company’s CEO, Steve Rothmeier, walked into his office unannounced, shut the door, and suggested: “You need to learn to be a better listener.” Rothmeier went on to tell him that during meetings and conversations, Edwardson was so busy trying to prove that his position or ideas were better than everyone else’s, he wasn’t listening to the ideas or viewpoints of others.
           
Afterwards, Edwardson started asking himself two important questions: What am I trying to prove? And who am I trying to prove it to?
             
“Continuing to ask these questions of yourself will ensure that you’ll grow as a leader and as an individual, and they will help you unlock the secrets to a life and a career of which you could be proud.”
           
Edwardson also emphasized to graduates to “keep your feet planted firmly on the ground. The air does get rarified in the higher levels of corporate America and the result is usually executive lightheadedness. And we’ve seen a lot of examples in the past couple of years of corporate leaders letting their head lift right off their shoulders and making terrible decisions after too long up in the thin air on their corporate jets.”
           
Edwardson told members of the class of 2011 to be “very proud that you received an MBA from a No. 1 ranked business school in the world. But remember one thing - wear your MBA humbly as you go about making your life career.”
           
During his faculty address, Thaler advised graduates to choose a career they find fun and enjoyable, and they will go far.
           
He told the story of world-famous cellist Yo-Yo Ma, who started at a very early age on the violin and was an average player. But when he switched to cello, an instrument he enjoyed playing more, he discovered his true talent and life’s calling.
           
Thaler said he found his own perfect career when he decided to combine economics with psychology.
           
“I found economics a bit boring, but what I found interesting was people watching - people did not behave the way economic theory said they were supposed to. I decided to combine psychology and economics. I had found my cello.”
           
Thaler, author of global bestseller Nudge, also offered a fresh perspective on the topic of corporate responsibility.
             
“Is any way of making money acceptable as long as it is both profitable and legal? If you want to decide such cases for yourself, here’s a test you could use: Consider if you would be willing to publicly announce the policy to your customers. If not, don’t do it. I think it’s safe to say some of the blame for our lingering financial crisis can be cast on those who did not follow my suggested rule - and I think we can do better.”
           
According to Thaler, companies have a choice about the business practices they adopt.
             
“There are opportunities to both make money and to make consumers better off.  Find those and you’ll find your job more meaningful - and you’ll sleep well at night too.”
           

Finally, Thaler advised that “having fun in life is the best hedge against the inevitable downturns that will occur,” and “it’s never too late to find your own cello.”

—Mary Paleologos