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Christina A. Gold

Debbie Hinely May 11, 2010 BUSM 520. Christina A. Gold. Christina A. Gold. Born 1947 in Netherlands Father Dutch Olympic gymnast & military officer Mother Canadian nurse & painter Carleton University in Ottawa, Canada Bachelor of Arts in Geography in 1965 Many honorary degrees

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Christina A. Gold

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  1. Debbie HinelyMay 11, 2010BUSM 520 Christina A. Gold

  2. Christina A. Gold • Born 1947 in Netherlands • Father • Dutch Olympic gymnast & military officer • Mother • Canadian nurse & painter • Carleton University in Ottawa, Canada • Bachelor of Arts in Geography in 1965 • Many honorary degrees • Married a lawyer, no children • Has won numerous awards over her career • Retiring from Western Union September 2010 • Continue in advisory & consultative capacity

  3. Career History • 1969 Brooke Bond Foods, Ltd • Accountant adding up redeemed discount coupons • 1970 Avon Canada • 1989 Avon Canada President • 1993 First female President of Avon North America • 1998 established The Beaconsfield Group • Consultancy focused on global direct selling and marketing/distribution strategies • 1999 CEO Excel Communications • 2002 President Western Union, under First Data • 2006 CEO Western Union • Successful spin off as own company • Serves on Board of Directors for: • ITT Corp. • NY Life

  4. Avon Canada • Joined 1970 • Requested to be put in charge of an English-speaking area of Canada • Instead made head of sale of downtown, French-speaking Montreal • Kept being put in poor-performing areas • Continued to show results • Held 20 different positions in 19 years

  5. Avon North America • Brought in Gold in 1993 as President • Went through three presidents in six years • Led to possible hostile takeover by Chartwell, Inc • Raised sales and profits, saving division • Brought division share up from 35% to 40% • Stepped down as President to become Executive VP of global direct selling development • Supervisory position

  6. Western Union • Began as telegram company in 1851 • Englewood, Colorado • $5.3 Billion revenue • 420,000 agents • 7,000 employees • 200 countries and territories • Worldwide leader in money transfer, bill payment and prepaid services • US’s largest mortgage-payment processor • 20% market share for global payment services

  7. Changes Under Christina Gold • Consumer-to-consumer = primarily migrants sending money to family members in home country • Consumer-to-business = payments • One reason for change: more customer-focused vs transaction-focused

  8. Challenges Christina Gold Faced • Making Western Union a successful business on its own • Agents are independent operators • 87 different logos globally • Enforce strict compliance standards globally • Regulations to guard against money-laundering • Launching global foundation • “Our World, Our Family” • $50 M, 5-yr initiative • Empower migrant families to education & global economic opportunities

  9. Telecommunications Cosmetics Global financial services PEOPLE 3 Very Separated, Unrelated Industries • No prior knowledge or experience • One thing in common - people

  10. Conscientious Choices • Took advice of mentor & met challenges • Took a voluntary demotion to learn other areas of management • Leads by example • Allows others to use & develop their talents • Established new organizational structure in failing companies • “Success is not a solo act. Never forget those important people behind the scenes of your success: family, co-workers, friends & mentors.” - Christina Gold at 2009 Carleton University Convocation

  11. Emotional Intelligence

  12. Level 5 Leadership A proven Good-to-Great Leader! “Christina is a very understated, quiet but very tough manager. She’s liked by every member of our Board of Directors and management team.” - Sy Sternberg, Chairman, NY Life

  13. 7 Types of Action Logic ”…Passionate business leader who is recognized for her ability to transform major corporations into powerful players in the global market place.” – Emcee at 2009 Carleton University Convocation

  14. Barriers Christina Gold Faced • Shy, overweight teen • Huge fear of public speaking • Male headship of Avon • Inability to speak French • Moving to another country • Failing companies

  15. Conclusions • Has great Emotional Intelligence • Authentic leader • Proven Good-to-Great Leader • Quiet • Leads by example • Has high expectations • Not afraid to jump in to help where needed to reach goal • Alchemist • Able to switch between necessary leadership styles

  16. Is There a Female Style of Leadership? • Possibly • Women tend to be more naturally empathic and nurturing • Style used by Christina Gold can be adopted by anybody

  17. Resources Carleton University (June 11, 2009). Citing Websites. Convocation Address: Christina Gold. Retrieved May 6, 2010, from http://www2.carleton.ca/newsroom/info-brief/convocation-address-christina-gold Cheng, T.L. (May 1, 2010). Citing Websites. Up Close and Personal.Retrieved May 7, 2010, from http://biz.thestar.com.my/news/story.asp?file=/2010/5/1/business/6143098&sec=business Clemens, C. (August 28, 2009). Citing Websites. Gold Banks on Meeting Customer Needs.Retrieved May 7, 2010, from http://denver.bizjournals.com/denver/stories/2009/08/31/ focus3.html Dash, E. (January 27, 2006). Citing Websites. Western Union, Growing Faster Than Its Parent, Is to Be Spun Off.Retrieved May 6, 2010, from http://www.nytimes.com/2006/01/27/business /27data.html?_r=1&pagewanted=print Encyclopedia JRank (n.d.). Citing Websites. Gold, Christina – Overview, Personal Life, Career Details, Chronology: Christina Gold, Social and Economic Impact.Retrieved May 6, 2010, from http://encyclopedia.jrank.org/articles/pages/6249/Gold-Christina.html Western Union (February 28, 2008). Citing Websites. Inter-American Economic Council Recognizes Western Union for Leadership in Economic Development. Retrieved May 7, 2010, from http://www.westernunion.com

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