From Spencer Stuart’s James Citrin and Darleen DeRosa, and Mark Carney, two new books that should make your reading list 
Good morning.
Two books out this week are worthy of attention.
The first, called Leading at a Distance, is from Spencer Stuart’s James Citrin and Darleen DeRosa, and it provides practical guidance to all CEOs still struggling to figure out the new world of work—which is to say, all CEOs. I spoke to Citrin and DeRosa last week. Citrin told me:
“What has happened in the last 15 months, and what is going to happen in the next year or two, is an acceleration of the trends in how leadership works Command and control and hierarchical leadership literally doesn’t work. You can’t be micromanaged, and employees have to invest their discretional effort. Leaders are engaging more than ever with authenticity and vulnerability.”
The two studied 600 virtual teams and found the highest-rated teams “are high on both purpose and process.” Purpose gives them the motivation to give their best; process ensures the basics of goal setting and decision making are handled promptly and properly.
The other book is Value(s) by Mark Carney, who served as governor of the Bank of England, and the Bank of Canada before that. He says the book is his reflection on how to turn around a society that seems “to embody Wilde’s aphorism—knowing the price of everything but the value of nothing.”
A good part of the book addresses creating the market mechanisms to meet climate challenge. When I spoke with him last week, he agreed that business is increasingly stepping up to the challenge. “It’s been building for a few years. It started in earnest about 18-20 months ago. Within the financial sector, this is a top three strategic issue.” Like me, Carney had worried the COVID-19 crisis would cause people to back away from costly climate commitments. But instead, the opposite happened. I asked him why.
“What did people take from the COVID crisis? It had much more of a feeling of a bolt from the blue. But this was predicted by science; scientists had told us it was going to happen. It underscored that you have to invest in resilience, and we are all in this together, and we have to work together.”
News below. And check out former Aetna CEO Ron Williams’ piece on why business leaders shouldn’t—and can’t—avoid speaking out on voting rights.
Alan Murray
@alansmurray
alan.murray@fortune.com
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Hollywood's big summer
Multiplexes in the U.S. are open for business, in what the WSJ calls a "referendum on the industry"—an $11 billion business just in the U.S. alone. This weekend, the latest "Fast & Furious" film debuted with a strong opening weekend, and Disney's "Cruella" and Paramount's "A Quiet Place Part II" will be the next movies to test the industry's strength— and whether fans will both head to theaters while keeping the streaming business afloat from home. WSJ
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This edition of CEO Daily was edited by Katherine Dunn.
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