Board Governance, Life Balance and Leading with Values | Pete Henderson Society

Why It Matters

By reframing time management as a leadership competency, executives can boost productivity, reduce burnout, and make more value‑adding decisions for their boards and companies.

Key Takeaways

• Focus on life balance, not just work‑life balance, to align priorities.
• Everyone has 168 hours weekly; allocate them intentionally through self‑reflection.
• Write down priorities; without documentation you’ll mistake activity for productivity.
• Sleep, health, and relationships are non‑negotiable foundations for effective leadership.
• Leaders must delegate routine tasks, preserving time for strategic, purpose‑driven work.

Summary

Professor Harry Kramer, former Baxter CEO and Kellogg professor, led a Pete Henderson Society webinar on board governance, life balance and values‑based leadership. He challenged the conventional “work‑life balance” mantra, urging executives to think in terms of overall life balance and purposeful use of time.

Kramer reminded participants that everyone has exactly 168 hours each week. By breaking those hours into six “buckets” – career, education, family, faith, health and contribution – leaders can assess where they truly spend time. He warned that high activity levels often mask low productivity, and that self‑reflection is essential to distinguish the two.

Memorable moments included his “I’m surprised you’re surprised” retort to executives who blame fatigue on overwork, the anecdote of a CEO asking “what’s 168?” and a golf‑time illustration showing how personal choices consume valuable hours. He also highlighted the habit of writing down priorities as a simple yet powerful tool.

The takeaway for board members and senior managers is clear: intentional scheduling, adequate sleep, exercise and relationship time are non‑negotiable, and delegating routine tasks frees bandwidth for strategic, purpose‑driven decisions. Adopting this mindset can improve personal well‑being while enhancing governance effectiveness and organizational performance.

Original Description

In this Pete Henderson Society webinar, Professor Harry Kraemer ’79 MBA of the Kellogg School of Management joins PHS President David Spitulnik ’80 MBA for a wide-ranging conversation on leadership, life balance and making a difference. Kraemer shares his framework for managing 168 hours a week, explains why echo chambers are eroding leaders' ability to develop balanced perspectives and offers practical advice on board governance — including why dysfunction often stems from unclear expectations between management and directors. He also discusses generational shifts in company loyalty and entrepreneurship, the role of self-reflection in leadership and how the One Acre Fund exemplifies the kind of legacy Kellogg alumni can build.

The Pete Henderson Society connects Kellogg alumni, fostering ongoing engagement with the school and with each other through events, conversations and shared commitment to the Kellogg community.

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