In Part Four of Boardrooms in Transition, former Deloitte Global CEO and longtime board leader Barry Salzberg explores what leadership looks like when organizations are operating under prolonged pressure, uncertainty, and scrutiny.

Drawing on decades of experience leading through crises and transformation, Barry argues that a board's greatest responsibility isn't simply managing risk—it's signaling confidence. From his memorable "flight attendant" analogy to the lessons behind building Deloitte University during one of the worst economic environments in decades, he explains why calmness, trust, and resilience are strategic assets.

Barry also challenges leaders to rethink short-term decision making. Cutting recruiting, R&D, or innovation investments to protect quarterly results may provide temporary relief, but it can create leadership and capability vacuums years later. His message is clear: long-term stewardship requires protecting the seeds during the winter.

We also discuss:

• Why leadership is fundamentally about signaling confidence under pressure

• The balance between quarterly performance and long-term investment

• Why boards should resist turning off the "innovation spigot"

• How involving skeptics early can turn critics into champions

• Lessons from creating Deloitte University and building board alignment

• Why trust, transparency, and resilience matter more than ever

If previous episodes focused on sensing disruption and allocating capital, this chapter examines what happens after the bet has been made—and why the most resilient organizations are the ones that keep investing when others retreat.

Boardrooms in Transition: www.boardroomsintransition.u-path.com
Inside CVC: www.u-path.com/podcast
U-Path Venture Advisors: www.u-path.com

Acknowledgments
Special thanks to Grammy Award-winning saxophonist and composer Wayne Escoffery for lending his music to the soundtrack of Boardrooms in Transition. A member of the Yale School of Music faculty and one of the leading voices in contemporary jazz, Wayne's work helps bring this series to life. Learn more about Wayne and his music at www.wayneescoffery.com.

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