An Interview with Ken Burenga, Former President of Dow Jones

Kenneth Burenga was 44 years old when he was named general manager of the Dow Jones & Company, Inc. and its flagship newspaper The Wall Street Journal. In 1998, he retired as its president/chief operating officer, trading high-level decisions for a cattle spread in Gillespie County, Texas, where he works "clearing cedars from our pastures" and keeping books for his son’s enterprises.

In this conversation, a man once on the axis of the financial world touches on the subjects of leadership, wealth, and contentment.

The words Dow Jones, to the average person, have a ring similar to "White House." They conjure something complex, esoteric, powerful . . . so how does a man get to be head of Dow Jones?

Looking back on my career, it is evident that God worked in fortuitous ways. I never had a career plan. I left my first job after being denied experience with computerization (long before it became IT), which my Luddite boss described as a "passing fancy with gadgets that wouldn't last."

At one point early in my career, I considered ministry, but God shut the door on that, obviously knowing what he had in store for me later.

I joined Dow Jones in 1966 as a budget accountant while going to night school, obtaining a Bachelor of Science degree in management with a minor in marketing. Successive assignments included data processing, financial planning and analysis, long-range planning, circulation sales director, vice president circulation, senior vice president/chief financial officer, executive vice president/general manager, and finally president/chief operating officer.

It seems that every time I came near boredom with an assignment, a new opportunity was offered. Only God could have planned that.

What did you love about the financial world and leadership?

The greatest satisfaction of leadership is seeing your colleagues progress and succeed in meeting their potential. The global world in which I was fortunate to participate enabled me to view other cultures through extensive world travel and meet a variety of renowned business and political leaders—some impressive, some not so.

On the heels of the previous question, how does a person, intellectually/mentally/spiritually retire from, or leave, a pinnacle of authority and influence?

My interest and forte' was in operations. I had no interest or aptitude for boardroom diplomacy or politics. Dow Jones' chief executive officer and I are good friends and about the same age. Consequently, I had no interest in his position.

During the late 1990s, the company was faced with a number of difficult business decisions including the disposal of a major electronic information unit. As we (the CEO and I) worked through these challenges, it became apparent to me that I had succeeded beyond my wildest expectations and that there were few challenges left. In essence, the enthusiasm was gone; I had been there and done that. After considerable prayer, and discussions with my wife, it became apparent it was time to begin a new chapter in my life.

I had seen too many colleagues burn out or pass away before enjoying other life opportunities. Again, God prepared my heart for leaving the hustle and bustle of New York and relocating to the paradise we call the Hill Country of Texas.

So what is the purpose of retirement?

I view the purpose of retirement as an opportunity to do some of the things there was never time to do while working 60-70 hours per week. It is a time to devote to worthy causes, spend time with family (grandchildren especially), and pursue alternative avocations.

From your experience and observations, have you formed a philosophy about wealth and power?

My philosophy has always been that whatever resources we have belong to God. I never worked for the money. The satisfaction of getting things done was far more motivating to me than my compensation. My wife and I often joked whenever I received an increase in compensation that God must need a raise.

My observation is that most of those who were preoccupied with money were the most unsatisfied and insecure people I dealt with. Money, or the pursuit of it, too often changed their character. Ditto for those obsessed with power.

Do you think the temptations in the white-collar arena are any greater now?

I don't think the temptations are any greater than they have ever been. It just seems that we are in a period when men and women are weaker ethically than in the past. It seems to me morality and business ethics are on the decline in America today. I believe this stems from a rejection of godly principles in our society as a whole.

As a Christian in a heady work arena, was there anyone who influenced how you led other people, how you approach work, what gets you up in the morning?

I guess I have always had a lot of initiative. I still am active all day, every day. A number of colleagues at Dow Jones—some Christian, some not—influenced my management style as did my brief active military service. Understanding that God is sovereign and all of us are his creatures causes us to respect our fellow workers. However, I confess that I was likely a demanding taskmaster. I expected quality work performed on time—no excuses or whining.

Would you comment on the idea of contentment?

Contentment is knowing who you are, what you are good at, understanding your place in God's plan, and having a biblical worldview. There is no contentment outside God.