On Monday, the Sprott School of Business welcomed Tony Griffiths, author and twice former CEO of Mitel Corporation. Griffiths is second speaker in this year’s CXO Lecture Series.
Griffiths has spent his career turning around troubled companies and making them profitable. But Griffiths, who started out his career in marketing and product development, set out on this path unintentionally.
Griffiths first became involved with Mitel when a friend in Toronto told him they were joining the board. “I said, ‘tell me about it’,” recalls Griffiths. “He said, ‘I’ll tell you on the plane.’”
They flew to Ottawa that afternoon. Once there, he realized Mitel’s state of affairs and wanted to leave. But the other directors threatened to leave if he did, which Griffiths felt left him no other choice but to stay.
After joining Mitel, he managed to strike a deal with British Telecom to fund the organization. The deal took longer than expected which caused the board to change up executive staff in order to finalize the deal. Griffiths was appointed president and CEO of the company.
When one takes the helm of companies in trouble, it doesn’t always go according to plan. Griffiths offered advice on what to do when things go wrong.
“It’s not over until it’s over,” he says. “And when it is, you get up, dust yourself off and move onto the next opportunity.”
The question period of the event was moderated by John Budden, an investment consultant and radio commentator. Budden asked Griffiths to comment on the role business schools play in teaching ethics. Griffiths believes integrity cannot be taught but is part of someone’s character.
“If you don’t have integrity by the time you leave your mother’s knee,” says Griffiths. “You’ll never have it.”
Griffith’s book, Corporate Catalyst: A Chronicle of the (Mis) Management of Canadian Business from a Veteran Insider, provides a first-hand account of his battles in the boardroom and corporate offices throughout his career. It is a great read for business students, inspiring directors, or anyone working in the field trying make a profit.
Sprott’s CXO Lecture Series welcomes leaders in industry and the community, who share their expertise and experiences with the students, alumni, faculty and friends of the Sprott School of Business. Past speakers have included: Michael Horgan, Deputy Minister of the Department of Finance; Janet Yale, President of The Arthritis Society; Melanie Berry, President and CEO of the Canadian Academy of Recording Arts and Sciences; and Eric Sprott, founder and CEO of Sprott Asset Management Inc. View our photo gallery of past speakers.
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