Leadership Lessons: Insights from Dematic CEO Mike Larsson

Welcome to Leadership Lessons, where we profile executives from the supply chain industry. In this edition, we're joined by Dematic CEO Mike Larsson who shares his career journey, lessons he learned as a youth hockey player in Sweden, and the challenge of running a company during a pandemic.

Can you discuss your career journey and what led you to Dematic?

I'm originally from Sweden, where I studied at Stockholm University School of Economics and earned my Bachelor of Business Administration degree. In 2021, I joined Dematic as Executive Vice President, Americas.

Before that, my entire career unfolded at ABB, where I held various roles, including Senior Vice President and Managing Director of Automotive in ABB’s Robotics and Discrete Automation business unit, and Group Vice President and Head of Robot Systems. During my tenure at ABB, I led turnkey solution offerings to clients worldwide across industries like robotics, electronics, automotive, aerospace, and consumer goods.

My journey at ABB took me to different corners of the globe, including Bahrain, China, Switzerland, Sweden, and the United States. This international exposure not only broadened my expertise in automation but also enriched my understanding of diverse cultures.

Did you do anything in your youth that gave you experience leading others?

I've always been involved in team activities, and I believe it's shaped me into the leader I am today. During my childhood, I played hockey, which taught me the importance of teamwork—relying on others, collaborating, and working toward a shared goal. These lessons from sports seamlessly transitioned into the workplace and have been instrumental in my growth as a leader.

“Building a culture centered on teamwork is a priority for me, and fostering open communication is a key step in achieving that.”

Can you discuss a time when your company had to adapt to significant disruption and how you led them through it?

When the pandemic hit, it posed significant challenges for the supply chain industry, driving an urgent need for automation. In response, our teams had to swiftly adapt and stay nimble. Despite the hurdles, we experienced unprecedented growth during this period, leading to a substantial influx of new team members. With such rapid growth, our processes and culture underwent significant shifts, both of which are crucial for our business's success.

To navigate these changes effectively, I initiated listening sessions with small groups of employees, typically around 10. These sessions provided a platform for employees to voice their concerns, suggest improvements, and identify issues within our company. During the first year, I had the opportunity to meet with more than 1,000 employees through these sessions.

The insights gathered from these sessions were invaluable. They allowed us to implement necessary changes and address concerns directly. Additionally, they helped us reintroduce a culture centered around empathy, understanding, and knowledge sharing. By listening to our employees and taking action based on their feedback, we were able to lead through this transition with resilience and unity.

Can you share a mistake you made as a leader and what you learned from it?

Like everyone else, I'm human and I've made my share of mistakes. However, what's crucial is recognizing that we all possess strengths, and achieving our common goals often requires relying on the strengths of others.

“What's crucial is recognizing that we all possess strengths, and achieving our common goals often requires relying on the strengths of others.”

—

Throughout my life, being part of various teams has profoundly influenced my approach to leadership in the workplace. I've come to understand that while I may not always be the most talented athlete on the team or the smartest person in the room, I have surrounded myself with a team of smart and capable individuals. Trusting in their abilities and fostering an environment where everyone's strengths are recognized and utilized has been instrumental in our success. This experience has shaped my leadership approach, emphasizing the importance of teamwork, humility, empathy, and leveraging the collective strengths of the team.

What’s your biggest fear as a leader?

As a leader, my biggest fear is letting down our dedicated workforce. Their trust in me and our Leadership Teams to steer the business forward not only motivates me to work harder but also to be more thoughtful and strategic in my decisions. As President, everyone is looking to you for guidance and rely on the choices we make as a team, which directly impact their livelihoods. This responsibility weighs heavily on me and drives me to continually strive for openness, ensuring that the path we can provide clarity around where we are going, show conviction and determination, and courage to take the challenge and push boundaries.

Lightning Round

What's one book every leader should read?
The Five Dysfunctions of a Team and Extreme Ownership are well worth reading!

Who is your leadership role model?
I was fortunate enough in my career at ABB to work for the CEO of our robotics division named Bo Elisson. It was still early in my career, and I had just been appointed as the CFO for that Business Area. Bo had incredible people skills and managed to find a way to challenge you but at the same time coach you along the way. He really took time to ensure that the organization was clear on the objectives, and inspired people to follow and create a strong and motivated leadership team. Working with him was a very powerful experience!

What app or tool can't you live without?
A lot of good apps, but there’s not one I can’t live without!

What’s your strategy for stress management?
There is positive stress, which is the excitement around what you can accomplish but feels slowed down by a lack of time, and then there is negative stress, which can come from external factors that you can’t control or lack of progress in certain areas. I think it is important to be able to compartmentalize and work on many fronts simultaneously, not letting success or failure in one area affect progress in others. Additionally, I think that being physically active is a good thing. When I have free time, I play hockey and spend time with my family. I try to keep my weekends free for both myself and my team members!

Is the future of work remote, in-office, or hybrid?
During the pandemic, our teams embraced flexible work arrangements and achieved impressive results. While flexibility offers numerous benefits, we've also come to appreciate the importance of in-person collaboration. Through extensive feedback channels like listening sessions and town halls, we've learned that flexibility is a key priority for many in our workforce. As we aspire to remain an employer of choice, we're committed to offering flexibility while promoting in-office collaboration.

What do you read every day?
Business papers just to keep up with the news and try to get some book reading in as well as I spend quite some time on airplanes!

What three people would you like to have over for a dinner party?
In addition to my wife, son, and daughter, there are so many interesting people that you could learn from. Just a few names that come to mind would be; Steven Hawking, Warren Buffet; Taylor Swift (because my daughter is going to be there), and William H. McRaven.

Do you have a pet?
Yes, my family has a mini golden doodle named Stanley Pup, a playful nod to our love for hockey.