Podcast Summary
The Power of Education in Shaping One's Future: Education brings freedom of choice, the ability to find a job, and ultimately, prosperity. It's a powerful tool for transforming lives, especially for those living in poverty or less favorable circumstances.
Key takeaway from this podcast episode is the importance of education in shaping one's future and achieving independence, as shared by Ilham Kadri, the CEO of Solvay. Ilham grew up in Casablanca, Morocco, where access to basic resources like water and electricity was a luxury. Her grandmother, who was her first role model, encouraged Ilham to pursue education as her third and own exit, beyond marriage to a husband or death. Education, for Ilham, brought her freedom of choice, the ability to find a job, and ultimately, prosperity. This experience has stayed with her throughout her career and continues to inspire her. The episode serves as a reminder that education is a powerful tool for transforming lives, especially for those living in poverty or less favorable circumstances.
The power of education and curiosity in personal and professional growth: Through education and curiosity, one can overcome illiteracy and become a leader in the field of chemistry, contributing to human progress and innovation through the study of fundamental resources like water.
Education and the thirst for knowledge, instilled in the speaker by her grandmother despite her own illiteracy, have been the driving forces behind her personal and professional growth. This wisdom, passed down through generations, has shaped her into a curious and inspiring leader in the field of chemistry. Chemistry, the mother of all industries, plays a crucial role in human progress and innovation, as demonstrated by the emerging importance of green hydrogen. The speaker's favorite chemical is water, a resource she has valued since her youth, and which has led her to make significant contributions in the industry. Overall, the importance of education, curiosity, and the fundamental role of science in human progress are the key lessons from this discussion.
Three pillars of business success: strategy, structure, and culture: Having a clear vision, purpose-driven plan, and the right team with a strong culture and structure are essential for business success.
Success in the chemical industry, or any industry for that matter, requires a clear vision, an ambitious plan, and the right team to execute it. According to our speaker, these three factors are the pillars of any business: strategy, structure, and culture. Strategy is about having a purpose-driven plan with clear paths for the business. Culture refers to the mindset and values of the team, including their curiosity, resilience, customer obsession, and ability to learn from failures. Structure ensures the execution of the strategy. Our speaker, who has a background in building water desalination plans in Saudi Arabia using green energy, emphasized the importance of having a personal vision of success and the need for a team of good captains to make it a reality. He also highlighted the importance of understanding the "why" of a business and its customers. For those unfamiliar, Solvay is a 160-year-old company that our speaker helped repurpose in 2019 with a new purpose, mission, and values.
Unleashing the potential of a 106-year-old company: Solvay, a century-old company, transformed from producing soda ash to an essential player in aerospace, tech, and food industries. The new strategy focuses on core business, communication, education, and sustainability innovations like EV batteries and green hydrogen.
Solvay, a 106-year-old company, has continuously transformed since its inception, from producing soda ash for industrial processes to becoming an invisible yet essential player in various sectors including aerospace, technology, and food industries. When I joined Solvay in 2019, my mandate was to unleash its potential. I embarked on a global tour to understand the company, and began working on a strategy to crystalize its strengths and focus on its core business. I emphasized communication and education to ensure alignment within the organization. Moreover, the chemical industry, often criticized for its contribution to greenhouse gas emissions, can also be part of the solution. Solvay believes that the industry is essential to enable the shift towards a more sustainable future through innovations like EV batteries, hybrids cars, and green hydrogen. When I joined the company, our greenhouse gas emissions trajectory was above Paris Agreement targets, but we recognized the importance of reducing our carbon footprint and contributing to a more sustainable future for future generations.
Transitioning to net zero in the chemical industry: A collaborative effort: Companies, regulators, and infrastructure providers must collaborate to decarbonize the chemical industry. Infrastructure development is a critical obstacle, and planning and dialogue between stakeholders are essential. A backcasting approach can help determine necessary steps, and investor feedback is important for accountability and transparency.
The transition to net zero emissions in the chemical industry is a significant challenge that requires collaboration between companies, regulators, and infrastructure providers. The speaker, a CEO, has shared their company's efforts to decarbonize their assets and manufacturing processes, including investing in renewable energy and waste-to-energy projects. However, they emphasized that infrastructure development is a critical obstacle, as companies cannot do it alone. They also highlighted the importance of planning and dialogue between stakeholders to ensure a smooth transition. The speaker encouraged a backcasting approach, starting with the desired end goal and working backwards to determine the necessary steps. They also emphasized the importance of investor feedback and dialogue to ensure accountability and transparency. Overall, the speaker underscored the need for collective action and collaboration to achieve the net zero goal.
Effective communication and transparency in investor relations: Solvay 1 Planet increased investor engagement through virtual meetings, sought feedback, made compensation changes, and led with empathy during the pandemic.
Effective communication and transparency are key to successful investor relations, especially during challenging times like the COVID-19 pandemic. The CEO of Solvay 1 Planet shares how they increased investor engagement through virtual meetings and actively sought feedback from their top shareholders. They also made changes to their compensation structure and disclosure practices based on investor feedback. Furthermore, the CEO emphasizes the importance of empathetic leadership, sharing how they made a salary cut as a sign of solidarity during the pandemic and how it influenced their top leaders to follow suit. By being transparent, listening actively, and leading with empathy, Solvay 1 Planet was able to build strong relationships with their investors and navigate through difficult times.
Leading with Emotional Intelligence, Vulnerability, and Resilience: CEO Ilham Kadri of Solvay shares her experience of raising €15M for employee support, emphasizing vulnerability, emotional well-being, and grit in leadership.
Leading with emotional intelligence, vulnerability, and resilience is crucial for success in today's challenging business environment. Ilham Kadri, CEO of Solvay, shared her experience of creating the Solvay Solidarity Fund during the pandemic, which raised €15 million in just six weeks through forfeited dividends. She emphasized the importance of being a role model, showing vulnerability, and focusing on the emotional well-being of employees during times of crisis. Ilham also highlighted the significance of grit and resilience, especially for female leaders in male-dominated industries, and encouraged developing these attributes early in one's career. She also expressed the importance of mental health education and the need to encourage young girls to keep their ambitions alive. Looking forward to the upcoming interview with Angela Duckworth, the world-leading expert on grit, Ilham expressed her curiosity about Duckworth's insights on the topic and the importance of determination and resilience for overcoming diversity challenges.
Keys to Success: Purpose, Innovation, and Adaptability: Maintain a clear purpose, innovate, and adapt through mergers and acquisitions for professional success. Personal growth and fun are essential for individuals and teams. Stay grounded, understand human interactions, and focus on intersections of individual realities to be an effective leader.
Having a clear purpose, innovation, and the ability to adapt through M&A are key drivers of success for companies like L'Oreal. The importance of fun and personal growth, both for individuals and teams, was also emphasized. The speaker shared her personal experiences with L'Oreal and Solvay, highlighting the importance of staying grounded and balanced, understanding human interactions, and focusing on the intersection of individual realities to be an effective leader. Fun, whether it's through hobbies or team-building activities, was identified as an essential component of personal and professional growth. Overall, the discussion underscored the importance of maintaining a balance between personal and professional development, staying innovative and adaptable, and fostering positive relationships.
Find your 'why' and be unique: Discovering your purpose and passion, and being mentored and sponsored, are essential for personal and professional growth. Bring your whole self to work and challenge the status quo.
Discovering your purpose and passion, and surrounding yourself with mentors and sponsors, are key to personal and professional growth. Ilham Kadri, a successful businesswoman, emphasized the importance of finding your "why" and being unique. She shared her experiences of being mentored and sponsored throughout her career, which helped her overcome challenges and reach new opportunities. Ilham also encouraged young people, especially women and minorities, to bring their whole selves to work and challenge the status quo. By sharing her personal experiences and insights, Ilham provided valuable advice for anyone looking to make a positive impact in their lives and careers.
