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n e w h a v e n b i z . c o m | A u g u s t 2 0 2 1 | n e w h a v e n B I Z 29 Yale's Soderstrom, who helped grow New Haven's biotech industry, to retire Jon Soderstrom, the head of Yale's Office of Cooperative Research who is credited with helping dozens of biotech startups take root in the region, is stepping down aer 25 years. Soderstrom will retire at the end of this year. In the meantime, he has moved into an interim advisory position in the Office of the Provost and is advising Yale Provost Scott Strobel in the areas of technology transfer and commercialization, the univer- sity said. A national search for Soderstrom's re- placement is underway. Sacred Heart names new dean for nursing Sacred Heart Uni- versity in Fairfield has appointed a new dean for the Dr. Susan L. Davis, R.N., & Richard J. Henley College of Nursing. Karen Daley was picked following a nationwide search. Daley has a background as a registered nurse, educator, editor and project director. Prior to joining Sacred Heart, she spent 10 years as dean of the College of Health Professions at Davenport University in Michigan. New area market president for TD Bank TD Bank recently named Monté Foster as its new southern New England retail market president. In this role, Fos- ter will lead its retail banking team of nearly 1,000 employees and 95 stores in Connecticut, parts of Massachu- setts and upstate New York. Foster will also be responsible for designing and executing market strategy to improve the customer and employee ex- perience across the region and promoting bank-wide collaboration. Foster has been involved in the bank's diversity and inclusion efforts and is one of the co-leads of Southern New England's Better Banking for Black Boston program. Quinnipiac U. medical student elected to leadership post Sotonye Douglas of North Haven, a third-year student at the Frank H. Netter MD School of Medicine at Quinnipiac University, has been elected to a two-year term as Region VII director of the Student National Medical Asso- ciation. e organization focuses on the needs and concerns of med- ical students of color and includes more than 7,000 medical students, pre-medical students and physicians. Douglas will represent students from six states that have 11 medical schools and 20 undergraduate colleges and universities. Butterfly names chief tech, information officers Butterfly Network Inc., a Guilford-based medical imaging company, recently added two leaders to its executive team, with the appointments effective July 19. Dr. Andrei Stoica is the company's new chief technology officer, and David Ram- sey is its new chief information officer. Stoica will lead Butterfly's product devel- opment, technology innovation and infor- mation technology operations, reporting to Dr. Todd Fruchterman, president and CEO. Stoica was most recently chief technolo- gy officer at BioTelemetry Inc., a provider of remote cardiac diagnostics and moni- toring services. Ramsey, who will report to Stoica, will focus on ensuring the company has a strong privacy and security program and on building information technology infra- structure to support the company's growth. BerryDunn picks new leader from within BerryDunn, an assurance, tax and consulting firm with Connecticut offices in Hamden and Glastonbury, has a new leader. Sarah L. Belliveau recently took over as the Portland, Maine- based firm's new CEO and managing principal. Belliveau has been working at the firm for 29 years, and she had most recently been leading its not-for-profit practice. e company's search began in July 2020, and involved an 11-member internal selection committee and an outside consultant. Belliveau replaced John Chandler, who led the firm since 1999 and is remaining to help with the transition. Hyperfine names duo to executive spots Hyperfine Inc., the Guilford-based creator of a portable MRI device, has named Neela Paykel as general counsel and Tom Teisseyre as its chief product officer. Paykel will manage all the company's legal and compliance matters, including contracting, intellectual property, and corporate governance issues. Teisseyre was previously head of surgical and implantable devices and a founding member of Verily Life Sciences. n C - S u i t e How to become a Level 5 Leader V i e w p o i n t By Colleen A. McGuire H umility. Purpose. Compassion. Determination. ese are some of the key characteristics of Level 5 Leaders. As I have progressed through my career, moving to academia aer spending several decades in financial services, and now as CEO and co-founder of a mission-driven startup, Silver Fern Healthcare, I have become in- creasingly committed to leading in a man- ner that is genuine and transformational. Most importantly, I want to have led as a Level 5 Leader — someone completely dedicated to the company's mission, some- one who acts with humility, and someone who has a steadfast focus on people. e concept of Level 5 Leadership comes from author and business advisor Jim Collins' extensive and well-known work. rough his research, Collins meticulously details what takes a company from "Good to Great" and the distinguishing factors that make companies great. e difference, he found, centered around leadership. According to Collins, "Level 5" refers to the highest level in a hierarchy of executive capabilities, while leaders at the four lower levels may achieve success, but not sustained excellence. During my career I have known, worked with, and come across all kinds of leaders. In my view, the most effective ones — the ones who make tremendous positive human and societal impact — operate as Level 5 Leaders. So, how do you develop these attributes? I would be trivializing the concept if it were as easy as offering a checklist of "to- dos" to get to Level 5, but there are specific actions, habits and traits you can cultivate and embody to develop the qualities of a Level 5 Leader in yourself and others. Unleash your talent First, as Steve Jobs put it, Level 5 Leaders hire great talent "and get out of their way." I believe the way to success is to find great talent, inspire them through the mission and with opportunities for growth, and then unleash that talent. You guide them, but you don't control them. It's not all about you, it's about the bright people you have on your team. As leaders, we have to give people the opportunity to experiment and get it wrong, as well as get it right. e environ- ment must feel safe so people are empow- ered to grow and take risks, even if they don't always pay off. You also need to create an environment where people want to work and where peo- ple thrive, because it's contagious. Work cultures and teams that have those traits attract and keep talent. Unwavering resolve In order to be successful in a for-profit business, the most important things you must do are: meet your mission and make money. In an early-stage company, you can't run out of cash, and so you must have a strong determination to do whatever it takes to get it done — ethically and legally, of course. As CEO of Silver Fern, I try to be a Level 5 Leader every day. I regularly make diffi- cult decisions on behalf of the business — and two factors that I use as my North Star when making those decisions are: What is the impact on the mission? And, how does the decision affect the team? It can be easier to make decisions if you are only focused on profits. It's much harder to always make decisions that also consider what's best for the mission and the team, especially when those priorities collide. Ultimately, making those hard decisions is what differentiates Level 5 Leaders from others. Lead by example I am a firm believer in walking the walk and talking the talk. Leaders set the tone for the whole team and need to actively create a culture that ignites passion and action in people and that gives employees an opportunity to cultivate new skills, try new things, and, overall, flourish. is means modeling the behaviors you want to see in others and giving real-time feedback. We all know how difficult it can be to deliver tough feedback. Having open dialogue, including communicating when a team member achieves positive results and being willing to communicate hard messages, is how innovation flourishes, improvement is achieved, and other Level 5 Leaders are developed. Your people are your greatest resource and operating as a Level 5 Leader will ben- efit everyone: you create a highly function- al, efficient team; your people are happy; and you achieve your mission. n Colleen McGuire is the co-founder and CEO of Silver Fern Healthcare, a Connecticut- based healthcare technology company. Jon Soderstrom Karen Daly Monté Foster Sotonye Douglas Sarah L. Belliveau

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