Leadership on Loan: When to Lead, When to Let Go

This idea of “renting” a role provides a valuable perspective on leadership and letting go: we don’t own our positions; we steward them temporarily.

October 30, 2024

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Earlier this month, Tony Bennett, Virginia’s head men’s basketball coach, made a surprising announcement: he was stepping down and retiring just before the 2024-25 season. Sitting alongside his athletic director, Carla Williams, Bennett—who led Virginia to the 2019 national championship—shared his decision with vulnerability, grace and honesty: "I'm no longer the best coach to lead this program in this current environment," Bennett, 55, said. “If you’re going to do it, you’ve got to be all in. You’ve got to have everything. And if you do it half-hearted, it’s not fair to the university and those young men. That’s what made me step down.”

Bennett’s departure is a powerful reminder for us as coaches, executives, and leaders. His reason for stepping down goes beyond wins and losses; it speaks to his recognition of the shifting landscape in college athletics and basketball, particularly around Name, Image, and Likeness (NIL), the transfer portal, and the overall student-athlete experience.

“This position has been on loan, and it’s time for me to give it back,” Coach Bennett reflected. This idea of “renting” a role provides a valuable perspective on leadership and letting go: we don’t own our positions; we steward them temporarily.

Bennett’s choice to retire from the game highlights a few core questions that we, as leaders, should ask ourselves:

  • Am I equipped for today’s demands? Bennett’s honest self-assessment stemmed from his understanding that leadership requires adaptability. With NIL and other fundamental changes in college sports, he recognized that his strengths no longer fully aligned with the program’s needs. Leaders in any field must regularly ask: Do I have the right tools, skills, systems, and mindset to navigate current and future challenges?

  • Am I all in? Bennett emphasized that leading without full commitment would be unfair to the university and his players. Effective leadership demands holistic alignment and genuine buy-in with one’s self. Staying on just for the title, ego, or prestige can hurt both the leader and those they serve.

  • Is it time to pass the baton? Bennett’s humility in stepping aside reflects a rare understanding: legacy isn’t about clinging to a role and power. Sometimes, the most impactful and courageous decision is knowing when to move on and let go.

Bennett’s decision reminds us that our roles—like life itself—are temporary. Embracing this mindset of "leadership on loan" can help us foster a healthier and more transformative approach to leading ourselves, our teams, and our organizations—one that values integrity, self-awareness, and leaving our roles and environments better than we found them.

Tony Bennett's courage to stand in his truth and retire challenges us to lead with deeper purpose and to recognize when it’s time to pass on the opportunity for someone else to grow, lead, and impact lives.

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