They’ve renamed their secretaries “executive assistants” and armed them with the appropriate technology.Īs CEOs like Pottruck have discovered, EAs can do much more to help them perform effectively, beyond simply digitizing what used to be paper tasks. CEOs these days don’t need to dictate letters because they write their own e-mail. Theoretically, CEOs know that the traditional secretary of the “Mad Men” era is as obsolete as the dictaphone and the three-martini lunch. He recently stepped down as Chairman of HighTower’s Board of Directors. He now runs a small, San Francisco-based private equity firm called Red Eagle Ventures, with Bagan-McGill as chief administrative officer. Pottruck was fired from Schwab in July 2004 after revenues and the stock price fell. She would make most of the requests on my time go away.” “Instead of David’s having a 45-minute meeting, he just had a 10-minute meeting,” Bagan-McGill says.Īdds Pottruck, “She has the business acumen and the judgment. Only when it got to the tough negotiating did Pottruck step in. Instead, a vice president and a manager of finance met monthly with Pottruck’s executive assistant, Colleen Bagan-McGill, to exchange information on past budgets, the CEO’s wish list and corporate estimates. When David Pottruck was Chief Executive of Charles Schwab and it came time to set the budget for his executive office, he barely talked with anyone from the finance department.
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