296. The power of rigor in transformation

Companies that execute transformations with rigor are much more likely to achieve their goals, generate higher total shareholder returns, and enjoy better organizational health. In this episode, Preeya Mody and Dominic Skerritt join host Sean Brown to share insights from their latest research on the role of rigor in driving and sustaining successful transformations. They discuss what defines rigor in a transformation, explore the three elements that rigorous transformations consistently demonstrate, and share practical advice for sustaining momentum without burning out teams. Related insights Going all in: Why employee ‘will’ can make or break transformations The McKinsey Organizational Health Index Wave by McKinsey Seven principles for achieving transformational growth Beyond transformation: What we now know about driving bottom-line performance The powerful role financial incentives can play in a transformation McKinsey Insights on Transformation McKinsey Transformation on LinkedInSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

While artificial intelligence is moving rapidly from experimentation to execution, many companies still struggle to capture real value from the technology. In this episode, we’re joined by Professor Jean-Paul Carvalho and Robin Nuttall to explore how CEOs can more effectively scale AI and to discuss the technology's implications for the future of work and organizations.Jean-Paul is Professor of Political Economy at the University of Oxford’s Department of Economics and Director of Oxford Elevate. Robin Nuttall is an expert partner in our London office and a leader of our regulatory strategy and environmental, social, and governance work. Robin is also a Business Fellow at the University of Oxford’s Economics Department.Related insightsHow AI is transforming strategy developmentThe state of AI in 2025: Agents, innovation, and transformationBuilding next-horizon AI experiencesArtificial intelligence in strategySupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

What does today’s wave of AI and economic change really mean for markets, jobs, and leadership? In this episode, David Solomon, Chairman and CEO of Goldman Sachs, joins our North America Chair and senior partner, Eric Kutcher, to explain why he sees the current moment as more evolutionary than unprecedented. Solomon discusses what’s driving market resilience in 2026, including fiscal policy, AI infrastructure investment, and shifting trade dynamics. He also shares how Goldman is using AI to boost productivity, reengineer core processes, and invest for long-term growth—as well as candid lessons on leadership, resilience, and decision-making at the top. This episode was recorded in December 2025. Related insights The strategic realities of a new era ‘Saying “I don’t know” is one of the hardest things a leader can do’: A conversation with Delta CEO Ed Bastian Retired US Navy Admiral Eric Olson: Leading effectively in uncertain times Building geopolitical resilience: A conversation with Michèle FlournoySupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

After a long period of uncertainty, the fog has lifted, and while private equity rebounded in 2025, the clearer visibility has also revealed a more complex and demanding landscape. In this episode, the authors of our 2026 Global Private Markets Report unpack the structural shifts reshaping the industry—from elevated multiples and longer hold periods to the growing importance of scale, specialization, and alternative capital. They also explore how artificial intelligence is emerging as a core driver of competitive advantage, with early adopters embedding AI into pricing, productivity, and portfolio strategy to create structural alpha. As private equity continues to mature, dispersion between leaders and laggards is set to widen. The question for dealmakers, operators, fundraisers, and LPs alike: who is equipped to best navigate this new terrain? Related insights  Global Private Markets Report 2026 Private equity: Clearer view, tougher terrainSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

Top dealmakers entered 2025 expecting to overcome continued challenges, but few anticipated how sharply trade and geopolitical pressures would intensify. In this episode, Jake Henry and Mieke Van Oostende, the global co-leaders of our M&A Practice, share key themes from our annual M&A report. They reflect on how dealmakers maintained focus, adjusted portfolios, and capitalized on shifting sector dynamics to drive substantial growth in 2025. They also share their perspectives on the five trends driving M&A in 2026. Related Insights Read the full report on McKinsey.com: 2026 M&A trends: Navigating a rapidly rebounding marketSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

Jane Fraser, Chair and CEO of Citi, talks with McKinsey Senior Partner and North America Managing Partner Eric Kutcher. After becoming CEO in March 2021, Jane launched a multi-year strategy to transform, simplify, and modernize the bank for the digital age – leveraging Citi’s unique global context to reset where and how it competes. Jane speaks about what the last five years have looked like for Citi and the role AI and blockchain technologies are playing, as well as what she’s learned along the way about talent, intent, and resilience. She also shares the global trends she is seeing as one of the world’s most well-travelled CEOs. Related Insights ‘You’ve got to be willing to “do,” as opposed to getting disrupted by somebody else’: A conversation with IBM CEO Arvind Krishna ‘Saying “I don’t know” is one of the hardest things a leader can do’: A conversation with Delta CEO Ed BastianSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

From its origins as an internal three-ring binder to its status as a global reference text, Valuation has shaped how business leaders think about value creation for more than 30 years. In this episode, co-author Tim Koller joins the co-leaders of our Strategy and Corporate Finance Practice, Andy West and Dago Diedrich, to reflect on the evolution of Valuation, the principles that have remained timeless, and the lessons learned across market cycles, bubbles, and changing executive expectations. Tim also shares his perspective on long-term orientation, disciplined leadership, and the legacy he hopes the book leaves with the business community. Related Insights Valuation: Measuring and Managing the Value of CompaniesSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

Levi Strauss & Co. Chief Finance and Growth Officer, Harmit Singh, joins us to share lessons from his 13-year journey transforming the iconic clothing company. Singh explains how Levi’s returned to growth, strengthened profitability, and shifted toward a direct-to-consumer model, while staying true to its purpose-driven heritage. He introduces the “Magic of the And”–his approach to driving both top- and bottom-line performance– and discusses building a performance culture, navigating volatility and tariffs with cross-functional teams, developing finance talent, and approaching AI in finance with practical use cases and discipline. Joining Harmit for this discussion is Steve Begley, a senior partner based in our New York office. Related Insights The State of Fashion 2026: When the rules change How finance teams are putting AI to work today How Nestlé’s CFO sharpens focus across a global portfolioSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

As organizations increasingly employ agentic AI, they face new risks that could disrupt operations, compromise sensitive data, or erode customer trust. Rich Isenberg and Charlie Lewis join us to discuss these emerging risks and how leaders can proactively ensure secure and compliant adoption. Rich Isenberg is a partner in our Atlanta office and a leader within our Risk and Resilience and Cybersecurity Practices. Charlie Lewis is a partner in our Connecticut office and leads our cybersecurity and tech resilience work across North America and Europe. Together, they offer a frontline perspective on how organizations are implementing agentic AI, the emerging forms of cyber and operational risk, and the critical steps leaders must take to build robust governance and resilience. Related Insights Deploying agentic AI with safety and security: A playbook for technology leaders The change agent: Goals, decisions, and implications for CEOs in the agentic age Seizing the agentic AI advantageMcKinsey Risk & Resilience on LinkedInMcKinsey Risk & Resilience: Our latest insightsSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information

Arvind Krishna, the Chairman, President, and Chief Executive Officer of IBM, stepped into the CEO role at IBM in 2020, following 30 years at the company. Prior to that, he held various senior positions, spanning VP of Cloud and Cognitive Software to Head of Research, where he drove innovation in core technologies – including artificial intelligence, quantum computing, and cloud platform services. In today’s episode, Arvind joins our North America Chair and senior partner Eric Kutcher to discuss how he led IBM to triple its share price in just five years, the current AI landscape, how to pursue opportunities from volatility, the potential of quantum computing, what it takes to drive growth through innovation, and the dangers of being too risk-averse. Related insights CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest  A CEO for All Seasons: Mastering the cycles of leadership The Strategic CEO newsletter Delta Air Lines CEO Ed Bastian: Lessons from the captain’s seat  Doug Parker, former chairman and CEO of American Airlines, shares leadership lessons John Stankey talks about leaning into the long term at AT&TSupport the show: https://www.linkedin.com/showcase/mckinsey-strategy-&-corporate-finance/See www.mckinsey.com/privacy-policy for privacy information