LEADERSHIP THAT RISES TO THE CHALLENGE


Applause resonated for Tuesday keynote speaker James Rhee and his compelling story of how he helped bring women’s clothing retailer Ashley Stewart back from bankruptcy by focusing on culture: The brand isn’t about selling clothes; it’s about values such as respect, empowerment, and joy. Rhee is an impact investor, founder, CEO, educator, and senior leader of two private equity firms. Most recently, he was named Howard University’s John H. Johnson Endowed Chair and Professor of Entrepreneurship. His deep understanding of mission-driven business and moving personal experiences had attendees buzzing with ideas.


“I don’t like using the word ‘turnaround.’ I think it has pejorative connotations — trying to fix something that’s broken. For Ashley Stewart, the problem was the business, but it wasn’t the people. No one saw the value of the relationships, friendship, loyalty, and courage of these millions of women. There was nothing to turn around. All I had to do was to fashion a business plan that was able to amplify these values in a way that was self-sustaining.”


—James Rhee impact investor


34 SENIOR LIVING EXECUTIVE NOVEMBER/DECEMBER 2021


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