In this episode of Beyond the Boardroom, Jonathan Tisch sits down with Steve Sadove, Chairman and CEO of Saks. Steve describes his reaction the day Lehman Brothers collapsed and explains how Saks's swift, but controversial, move to deep discounting ultimately saved the company's balance sheet. He also discusses the new normal in the luxury landscape and the bright future for Saks. Steve's success revamping Saks is just the latest in a long career spent rejuvenating, great brands. He oversaw Jell-O in the Bill Cosby era and relaunched Herbal Essences with its "totally organic experience" campaign. His management philosophy is simple - "leadership drives culture." By fostering teamwork, asking his staff the right questions, and empowering them to take risks, he repeatedly creates environments where innovation thrives... and profits quickly follow.