This week’s edition examines how leaders navigate political risk, culture scrutiny, unconventional talent bets, and the fast rise of AI inside decision making. France’s confidence vote is rattling boardrooms that

Many large companies are removing layers to move faster and spend less. Across Corporate America, the average manager to employee ratio has stretched from roughly 1 to 5 in 2017 to about 1 to 15 by 2023. Google, Amazon, Intel, and Estée Lauder are among the firms that cut middle management in pursuit of speed, clearer accountability, and lower cost structures. The intent is simple. Fewer layers should mean quicker decisions and less bureaucracy. The reality is more nuanced.

This week’s edition looks at how leadership teams are reshaping strategy and structure under pressure from markets, politics, and talent dynamics. You will see why Renault tapped an experienced operator to steer Dacia through a competitive cycle, how BlackRock is pressing state officials to keep pension investing focused on fiduciary duty, and why Milan is pulling finance leaders with tax incentives even as global fundraising cools. We also cover a surge in asset management dealmaking that points to a scale and capability race, plus a rapid flattening of corporate org charts that is changing how managers lead.

Citigroup finds itself in a classic leadership bind. The bank recruited Andy Sieg in 2023 to accelerate its wealth strategy and simplify a sprawling organization. Since then, Citi has pointed