grant of about $3 million from a grateful board for seeing the company's restructuring through to completion. Noski was asked to join several boards, including Microsoft's, he became a special adviser to the Blackstone Group, and he gave a few lectures at the University of Southern California, but he jokes that he "failed at retirement." In late 2003, Northrop Grumman, which is headquartered about an hour from his home near Los Angeles, recruited him to become its chief financial officer. Mike Armstrong became the chairman of Comcast Corporation and held that position from the day the merger closed until May 2004, when he stepped down in favor of Brian Roberts. During that period, he drew annual compensation of about $2.7 million. Whether he works or not, he will continue to receive that compensation until his contract expires in 2005, and because he stepped down as chairman early, he will also receive an additional $900,000 annual consulting fee until the spring of 2006. Armstrong is a director of Citigroup, the Hospital Corporation of America, and Johns Hopkins University. He is a visiting professor at MIT and Chairman of the Business Round- table's Homeland Security Task Force. When he's in town, he com- mutes by Metro-North Railroad to offices Comcast maintains for him in Manhattan. This page intentionally left blank Practice Ambidextrous Leadership Companies exist to create wealth, but not solely for shareowners. Other groups contribute resources to a company's process of wealth creation and accept the associated risks. All these "stake- holders"-employees, customers, investors, and communities- should share the rewards. That requires a degree of ambidextrous leadership that does not come naturally to many business leaders. "Terrible PR" I was once introduced to Mel Karmazin, then CEO of CBS, as "the guy who runs AT&T's PR shop." "Oh," Karmazin joked, "AT&T has terrible PR." "But imagine how bad it would be," I countered, "if I weren't there." We both laughed. Looking back, I realize that Karmazin might not 