What Didn’t Work: Tongue-Tied at the Top

When the Smithsonian regents hired Larry Small to be the institution’s secretary in 2000, they were departing from a tradition of leaders with strong backgrounds in science and education. The regents believed the complex and growing institution needed management discipline. With a long banking career that included terms as vice chairman of Citibank and chief operating officer of Fannie Mae, Small seemed to offer just that.