Executive Conversations: Margaret Lazo’s Story

It was early 2022, and Margaret Lazo had just left her position as CHRO of Univision. She was not sure what she would do next, but she assumed it would likely be a CHRO role at another company.

At the beginning of her search, she was approached by an executive recruiter and began the interview process for a role, eventually taking part in a panel with the company’s C-suite. She thought the conversations went well until the recruiter gave her some unexpected feedback: while the executive team loved Margaret’s experience, they felt she didn’t know what she wanted to do next.

“I was shocked. I tried to think of what I could have said to give that impression. Then I realized something—they were right. Even though I had the right skill set and I could say the right things, my internal dialogue was coming through: I was grappling with what I wanted to do next.”

That was when Margaret realized that she needed a change. More importantly, she needed time to figure out what that change was.

In a recent webinar with ICEO’s Sally Washlow, Margaret shared insights into her career. In her conversation, she highlighted the value of making personal connections with those around you, how a portfolio career can lead to both personal and professional satisfaction, and above all, the importance of taking a step back before jumping into the next opportunity.

Shaping a career through openness to experiences

Margaret started her HR career at Macy’s and after a few years, changed industries with a move to NBC where she worked across broadcast, cable, corporate functions and entertainment as the company transformed through acquisitions. Over the next two decades, she served in several HR leadership roles across various divisions at NBC Universal.

“I wasn’t afraid to move for a role. From my perspective, it was an opportunity to try something new, live in a different environment, and take advantage of what’s there.”

Margaret eventually left media for a position at GE Capital, where she developed her understanding of financial services and, when GE decided to wind down that business, how an organization divests from assets.

This experience broadened the scope of what she could offer to organizations. As an HR leader with a background in financial services, Margaret brings both a people and a capital perspective to her responsibilities. This niche experience came into play when she was approached by Univision.

“I was attracted to the opportunity at Univision by the prospect of the IPO and what it would take to lead the company through it. It was a great opportunity for my career and in line with my professional aspirations.”

The Spanish-language media giant needed a strong people leader to help prepare the organization for the IPO, and Margaret’s resume made her a prime candidate: she was an accomplished HR executive with a track record in media, had direct experience at a Spanish-language broadcasting network with Telemundo, and understood equity and capital from her GE Capital experience.

She relished the opportunity to build a team and people function fit for the public company stage alongside a CEO she respected, but the journey took unexpected turns.

Leading when things don’t go according to plan

Univision intended to IPO, but a complicated ownership structure across multiple PE firms and a publicly traded foreign media company made it difficult to find a path forward.

This dynamic was enough to derail the IPO, catalyzing a series of changes within the company. Over the next few years, Univision would consolidate ownership and change CEOs three times. This meant that Margaret, who had joined the company to facilitate the IPO, was now leading HR for a company that was rapidly trying to shape itself into a new structure. And then—as if this wasn’t enough—the pandemic hit.

Margaret played a key role in supporting the employee population and coaching C-suite members on their roles. Univision needed to figure out how to continue producing content and compete in a rapidly changing environment while also shaping the broader future of the company.

“As hard as that experience was, I learned a lot about myself while going through it. I understood that I needed to be the voice of calm and help the organization focus on how we were going to move forward.”

Margaret and her fellow executives were ultimately successful in stabilizing the organization. A new CEO and ownership structure ushered in a new vision for the future for Univision. This meant it was time for Margaret to figure out what she was going to do next.

Why she needed a change

The COVID-19 pandemic was a challenging experience. Executives were required to manage their organization’s collective anxiety and lead in the face of unprecedented uncertainties. For some, this resulted in feelings of potential burnout and a desire to realign career priorities.

Those leaders noticed this in Margaret during the post-Univision interview process. She hadn’t realized it yet, but her career priorities had changed, and she needed time to figure out why.

“That’s why I took a year off—I knew it was important to be intentional about what I did next. It’s not always practical to take time off, but it’s worth it to be a little selfish and refill that tank.”

The time off turned out to be Margaret’s secret. During this period, she reflected on what was important to her. She also connected with ICEO in a process to help her identify what she wanted from the next stage of her career.

“For me, the whole journey was such a process of discovery and understanding, and it’s not something that happened overnight. That’s why I felt I got value from ICEO—having that level of coaching and partnership helped prepare me for what came next.”

Margaret eventually realized that there was no single career she wanted to pursue. A year after leaving her CHRO role, Margaret found the ideal fit for her: a portfolio career.

Reflecting on the journey

Margaret’s interest in financial services and private equity led her to her most recent experience as a senior operating advisor at Cerberus Capital’s Operating and Advisory Company, leveraging her operational expertise. She has also found other opportunities to guide the direction and health of organizations from an advisory standpoint as a board member for both Heartland Financial USA, Inc. and Bullseye Engagement.

Although Margaret’s roles and industries have changed throughout her career, one key thread has remained the same: applying what she has learned from her past experiences to her current role. From her board positions to her current role at Cerberus, she brings the totality of her corporate career into her work every day. And best of all, she loves doing it.

“Even on tough days when nothing seems to work, you get to remember that your actions do make a difference. You can focus on what you are working towards and the impact you can make.”

Margaret Lazo shared her story as part of ICEO’s Executive Conversation Series, a speaker series highlighting leaders who have navigated major career pivots, bringing to life the range of possibilities for executive career journeys.

Reuben Cohen is the North American Managing Director for LHH's International Center for Executive Options (ICEO). He and his team work as trusted advisors to CEOs and other top-of-the-house leaders, guiding them through career inflection points to a variety of new paths.

Do you want to learn more about ICEO’s portfolio of support for executives and senior leaders?

Learn more now