Leaving public company life doesn’t mean leaving accountability behind, according to Michael Polk, who has spent the past several years running a private business after decades in the public spotlight.
Two Boards, One Standard
Polk became CEO of Implus LLC in 2020, taking the role at the invitation of Berkshire Partners after previously serving as CEO of Newell Brands from 2011 to 2019. His earlier career included leadership positions at Procter & Gamble, Kraft Foods and Unilever, giving him decades of experience across some of the largest consumer companies in the world.
At Newell, Michael Polk Newell Brands answered to a board of directors and public shareholders while overseeing an organization of more than 50,000 employees. He has pointed out that the accountability at Implus looks remarkably similar, even though the company operates outside public markets. He still reports to a board of directors, along with the company’s private owners, and still carries responsibility for driving measurable results.
What has shifted is the day-to-day texture of the job. Rather than spending most of his time on resource allocation or navigating several layers of management to influence decisions, Polk now works directly with employees on brand and business development. He has described the feeling as being in the crucible alongside his team, making the calls that move the business forward together.
That closeness hasn’t lowered the bar. Polk has said he had responsibility for driving value creation at Newell and carries the same responsibility at Implus, adding that he considers himself fortunate to have delivered results in both settings.
Michael Polk has also guided Implus LLC through pandemic related disruptions while building out its operating model, all while maintaining the same standard of accountability that defined his public company career. For him, the ownership structure changed. The expectation to perform did not, and he seems to draw a certain satisfaction from proving that a private company can hold itself to the same exacting bar as a public one. Refer to this article to learn more.
More about Michael Polk on https://www.businessmole.com/former-newell-brands-ceo-michael-polk-how-a-strategic-corporate-move-reshaped-newell-brands/