The announcement by Prince Harry and Meghan Markle — also known as the duke and duchess of Sussex — that they are stepping back from being “senior” members of the British royal family should have come as no great surprise to royal observers who have watched the pair struggle in the glare of the spotlight over the past year.
Insiders sometimes call the royals “The Firm,” and perhaps that analogy is useful to understanding their desire to live, shall we say, a more entrepreneurial life. (Buckingham Palace seems to have been caught flat-footed by their pivot.)
The shift is consistent with a long-term strategic plan attributed to Prince Charles, who has indicated that he favors a slimmed-down monarchy with fewer people called upon to play the role of senior executive.
Photo: Reuters
He wants the focus to be mainly on the monarch and those in the line of succession. In this case, that’s the queen, himself, his son Prince William, and William’s oldest child, Prince George. It is not the Sussexes, as much as the media love covering them.
This means not only jettisoning some liabilities — think of Jeffrey Epstein-linked Prince Andrew — but also divesting some potential assets, like the Sussexes, into independent entities, if they do not fit with the strategic vision.
Think about it. To succeed, an organization needs to focus. The essence of competitive strategy is not only deciding what you will do, but being firm on what you will not do.
The royal family does not get to pick its relatives any more than you or I, but they can decide who lives off the public purse, who counts as “senior” and who does not.
There is no doubt they would prefer to keep the focus firmly on the royals who burnish the family brand. Over the past couple of years, Prince William and his wife, Kate Middleton — the duke and duchess of Cambridge — have taken on an increasing number of public engagements of the kind the crown would like to see more of: carefully staged ribbon cuttings, sidewalk meet-and-greets, charity work.
They share adorable photographs of their adorable children (often snapped by Middleton herself). They weathered unsubstantiated rumors about their marriage and a falling-out with friends with hardly a backward glance.
By contrast, the Sussexes have managed over the past couple of years to snatch defeat from the jaws of victory several times. They have repeatedly failed to coordinate major announcements with the palace — Wednesday’s kerfuffle being just the latest, and maybe the craziest, example.
Last fall, they torpedoed the good public relations they had earned on a tour of South Africa by launching an ill-considered lawsuit against the press just as the visit was ending.
They also fumbled the public aspect of baby Archie’s birth — which is usually a pretty hands-down positive royal news story — by promising to share some details with the public, but then holding most of those details in strict secrecy.
And, fairly or not, they struck people as hypocritical by extolling personal efforts to mitigate climate change while, like most rich people, living a pretty carbon-intensive lifestyle.
When their celebrity friends rushed to defend them, it only made the public angrier.
While these might seem like tempests in so many gilded teapots, and while some of the criticisms seem wildly unfair — would we prefer elites who did not care about the climate at all? — taken as a whole, they run the risk of eroding the firm’s “customer base.”
In other words, each dust-up has the potential to make British taxpayers ask: “Hey, do we really need to keep supporting these toffs?”
Roughly one-quarter of younger Brits would like to abolish the monarchy, polls show, and that is with an enormously popular queen about to reach her 68th year as monarch.
After so many own-goals, it is not surprising that senior management might want to “make some changes,” as the old corporate euphemism goes, or that the Sussexes themselves would want a sort of career change.
They have clearly struggled to balance the public and private aspects of royal life, and frankly, seem pretty miserable doing the job they have been trying to do since their wedding.
Harry and Meghan have issues they care deeply about and want to have a public voice on; their job in the family business has been to keep quiet and smile.
Seen in that light, they have not really been hitting their performance targets — and they probably do not find the work all that fulfilling.
Perhaps this is one spinoff that could work for everyone involved.
Sarah Green Carmichael is an editor with Bloomberg Opinion. She was previously managing editor of ideas and commentary at Barron’s, and an executive editor at Harvard Business Review, where she hosted the HBR Ideacast.
This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.
TAKING STOCK: A Taiwanese cookware firm in Vietnam urged customers to assess inventory or place orders early so shipments can reach the US while tariffs are paused Taiwanese businesses in Vietnam are exploring alternatives after the White House imposed a 46 percent import duty on Vietnamese goods, following US President Donald Trump’s announcement of “reciprocal” tariffs on the US’ trading partners. Lo Shih-liang (羅世良), chairman of Brico Industry Co (裕茂工業), a Taiwanese company that manufactures cast iron cookware and stove components in Vietnam, said that more than 40 percent of his business was tied to the US market, describing the constant US policy shifts as an emotional roller coaster. “I work during the day and stay up all night watching the news. I’ve been following US news until 3am
UNCERTAINTY: Innolux activated a stringent supply chain management mechanism, as it did during the COVID-19 pandemic, to ensure optimal inventory levels for customers Flat-panel display makers AUO Corp (友達) and Innolux Corp (群創) yesterday said that about 12 to 20 percent of their display business is at risk of potential US tariffs and that they would relocate production or shipment destinations to mitigate the levies’ effects. US tariffs would have a direct impact of US$200 million on AUO’s revenue, company chairman Paul Peng (彭雙浪) told reporters on the sidelines of the Touch Taiwan trade show in Taipei yesterday. That would make up about 12 percent of the company’s overall revenue. To cope with the tariff uncertainty, AUO plans to allocate its production to manufacturing facilities in
Six years ago, LVMH’s billionaire CEO Bernard Arnault and US President Donald Trump cut the blue ribbon on a factory in rural Texas that would make designer handbags for Louis Vuitton, one of the world’s best-known luxury brands. However, since the high-profile opening, the factory has faced a host of problems limiting production, 11 former Louis Vuitton employees said. The site has consistently ranked among the worst-performing for Louis Vuitton globally, “significantly” underperforming other facilities, said three former Louis Vuitton workers and a senior industry source, who cited internal rankings shared with staff. The plant’s problems — which have not
COLLABORATION: Given Taiwan’s key position in global supply chains, the US firm is discussing strategies with local partners and clients to deal with global uncertainties Advanced Micro Devices Inc (AMD) yesterday said it is meeting with local ecosystem partners, including Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), to discuss strategies, including long-term manufacturing, to navigate uncertainties such as US tariffs, as Taiwan occupies an important position in global supply chains. AMD chief executive officer Lisa Su (蘇姿丰) told reporters that Taiwan is an important part of the chip designer’s ecosystem and she is discussing with partners and customers in Taiwan to forge strong collaborations on different areas during this critical period. AMD has just become the first artificial-intelligence (AI) server chip customer of TSMC to utilize its advanced