New York Magazine has a very good article about Zoe Cruz, the Morgan Stanley co-president who involuntarily resigned last November because (pick one) a. (In some people’s estimation) she was to blame for the company losing a few billion dollars b. A lot of people disliked her and told Mack they would leave if he made Cruz CEO c. Mack had to blame either himself or Cruz for some losses and he chose her. d. She was, you know, a girl, and the boys didn’t like that. But it’s extremely long so we’re going to highlight the takeaways in several installments.
Take away #1:
At one time or another, Morgan Stanley employed at least a handful of tools who found this funny:
During a year-end management meeting in 2004, one mid-level executive interrupted Cruz’s speech to ask, “Are you high? Because I really don’t know what you’re talking about.”
“High?” Cruz asked. “You mean stoned?”
“Yeah, exactly,” he said. “Smoking it.”
Everyone in the room laughed--except Cruz..