Few readers, even of the Financial Times, will feel much sympathy for executives in the international energy business who complain about their lot. Paid in the hundreds of thousands (at least), travelling around in executive jets and chauffeured cars, pampered by executive assistants and personal assistants – life surely can’t get much better.
But there is a real and serious problem that merits some attention. Many senior executives are exhausted and burnt out. Across the business world, there have recently been a number of high-profile cases of executives who have given up their jobs because of the stresses involved. António Horta-Osório, chief executive of Lloyds Banking Group, and Hector Sants, former head of compliance at Barclays, are the most prominent names. In the energy sector, companies and individuals shun publicity. But, in the past few weeks, I have heard of four cases of individuals who have in one way or another collapsed under the pressure of their jobs. One leading company is undertaking a thorough analysis of the psychological health of its top 50 people, and I would be surprised if others don’t follow. Read more