Jiří Koleňák: Welcome to today's episode of our podcast series focused on successful and awarded managers. This series is produced in cooperation with the Czech Management Association, which long supports the development of managerial and leadership skills in the Czech Republic. Together, we explore what makes a manager successful, what challenges they must overcome, and how to become an inspiring leader. Today, I am joined by co-host Olga Girslová, President of the Czech Management Association, whom you know from our first episode. Hi Olga, welcome!
Olga Girslová: Thank you, Jiří, for the warm welcome and for the opportunity to continue our conversations with successful managers. Today, I have the honor of introducing our guest, Michal Řezníček, CEO of Direct Insurance (Direct pojišťovna). Under his leadership, the company achieved its greatest historical milestones. Michal is also well known for his distinct leadership style and management approach.
Jiří Koleňák: Hi Michal, thank you for accepting our invitation. What brought you the greatest joy in recent days?
Michal Řezníček: The recent weather! We had a beautiful sunny weekend, everything is in bloom, and that gave me a wonderful boost of energy.
Jiří Koleňák: When you stepped into the role of CEO at Direct Insurance in mid-2022, what was your single biggest challenge at the beginning?
Michal Řezníček: Getting used to the solitude of the position. It’s often called a "lonely job." It’s not that I was left completely alone—the team stayed—but as CEO, you realize that many ultimate decisions rest solely on your shoulders. Previously, I was part of executive teams where we debated issues collectively. While we still work as a team today, the CEO role carries a unique level of personal accountability.
Jiří Koleňák: Colleagues frequently praise your calm composure. Where did you learn that specific leadership style?
Michal Řezníček: It comes down to experience and personal maturity. I don't separate my personal character from my professional persona. Over time, I discovered that maintaining calm and examining issues objectively yields faster solutions than reacting emotionally. I am naturally an empathetic, feeling person, but when facing a complex problem, I consciously step back, strip away the emotional noise, and focus strictly on facts and underlying causes.
Jiří Koleňák: What do you enjoy most about leading people?
Michal Řezníček: It starts with genuinely liking people. Engaging with people recharges my energy. Today, I am selective about who I spend time with because not everyone brings positive energy. I am fortunate to be surrounded by talented, high-energy colleagues whom I thoroughly enjoy collaborating with. Genuine empathy for people is an absolute prerequisite for effective team leadership.
Jiří Koleňák: Has that always been your approach, or did it evolve over your career—for instance, during your earlier managerial tenure at Česká pojišťovna?
Michal Řezníček: I've always liked people, but my early leadership was completely different. Around 20 years ago at Česká pojišťovna, I stepped into my first leadership role at age 26, managing 40 employees. Lacking experience, I felt overwhelmed and occasionally wanted to hide. I didn't know how to structure team strategy or guide people effectively. Navigating that steep learning curve was intense, and I carried far more stress back then.
Jiří Koleňák: Where did your current sense of calm originate?
Michal Řezníček: Experience taught me that every operational problem has a solution. Stepping back, gaining perspective, and navigating enough high-pressure situations proves that tough challenges can be overcome.
Olga Girslová: Michal, when you arrived at Direct, you built a new core leadership team. How do you identify the right individual for your core team, and specifically for a team leadership role?
Michal Řezníček: At Direct, every key candidate is interviewed by at least four team members—at least "eight eyes" evaluate them. We divide interviewing competencies so each interviewer tests specific skills, such as problem-solving or technical expertise, followed by a joint decision call to share impressions. When evaluating leadership candidates, I test how they manage people—not just their direct reports, but how they collaborate cross-functionally across departments without formal authority. Beyond objective problem-solving capabilities, I trust my intuition during interviews by drilling two or three layers deep into specific responses to gauge authentic alignment.
Olga Girslová: So you rely heavily on inner intuition?
Michal Řezníček: Absolutely.
Olga Girslová: You design individual development plans for your key talent. What must those plans include?
Michal Řezníček: While traditional development focuses heavily on fixing weaknesses, I prefer doubling down on developing excellence. Everyone possesses natural talents, and people excel when practicing what they enjoy. Focusing exclusively on fixing weaknesses produces average performance. Cultivating existing strengths transforms good performers into world-class, excellent individuals—and excellent individuals build exceptional teams.
Olga Girslová: How do you define the distinction between a traditional manager and a true leader?
Michal Řezníček: At Direct, we don't use the title "manager"—we call them "supporters." We operate an inverted organizational pyramid where leaders support teams from the ground up. Traditional managers carry hierarchical connotations—assigning tasks, dictating bonuses, and managing via carrot-and-stick models. A leader or supporter acts as a visionary who defines a compelling direction. Teams follow a leader because they align with the shared vision and enjoy building meaningful, large-scale initiatives together.
Olga Girslová: That inverted pyramid aligns with how we view management at the Czech Management Association—managers act as enablers helping leaders realize strategic goals. How do you foster that psychological safety in your corporate culture?
Michal Řezníček: We maintain a completely open, safe environment without rigid hierarchy. Anyone can walk into my office. In fact, team members have an explicit obligation to disagree. If someone sits in a meeting feeling an initiative is flawed, they are required to raise it at the table. Open debate at the table prevents toxic hallway complaints later. Furthermore, true leadership means surrounding yourself with talent smarter than yourself. A great leader takes pride in developing talent that surpasses their own technical skills in specialized domains.
Olga Girslová: You introduced an initiative called "Breakfast with Michal." What was the core idea behind it?
Michal Řezníček: I wanted an informal, unscripted format accessible to anyone in the company. Unlike our monthly Allstaff meetings where executive leadership presents company updates, "Breakfast with Michal" has no agenda. Employees drop in, ask any question directly to the source, and receive transparent answers about any aspect of the business.
Jiří Koleňák: 2023 was historically the most successful year in Direct Insurance's history. What drove those record results?
Michal Řezníček: We achieved steady growth every year over the past decade, but 2023 set records because all four of our core insurance pillars—retail, commercial, and specialized product lines—grew simultaneously. Usually, market conditions cause one division to surge while another flatlines. In 2023, every single division outperformed expectations.
Jiří Koleňák: What management principles sustain that level of balanced growth?
Michal Řezníček: Ruthless prioritization. Setting priorities is easy; the hardest part is explicitly defining what you will not do. Projects often stall because underlying secondary tasks drain organizational energy. Clearly declaring, "We are not touching these initiatives for the next two quarters; we are strictly focused on these core targets," gives teams total focus and execution power.
Jiří Koleňák: How do you celebrate company milestones?
Michal Řezníček: We celebrate monthly wins during Allstaff meetings with prosecco or champagne toasts, and we host an annual Direct Insurance birthday celebration every June 15th to reflect on our journey. Celebrating wins validates the team's hard work, brings joy, and reinforces shared purpose.
Jiří Koleňák: How do you handle major setbacks or failed initiatives?
Michal Řezníček: Minor setbacks happen daily and require quick adjustments. For major project failures, we conduct formal team retrospectives to analyze root causes without blame. About a year ago, we experienced friction between our IT development teams and business units. Our retrospective revealed that separating business requirements from IT execution created silos. We restructured them into unified, cross-functional teams of eight people sitting at the same table, which solved the communication gap entirely.
Jiří Koleňák: You recently navigated severe back health challenges that forced you to re-evaluate personal priorities. Could you share that experience?
Michal Řezníček: I suffered multiple herniated spinal discs that severely restricted my mobility. Health is the foundational prerequisite for everything else—without it, personal and professional performance collapses. To avoid surgery, I restructured my lifestyle: I stopped playing golf after 2.5 years, committed to specialized physical rehabilitation, and built core strength. Today, my back has improved dramatically, allowing me to ride mountain bikes, tackle bike parks, and run Spartan races with my daughter.
Jiří Koleňák: What is your personal and corporate perspective on Artificial Intelligence?
Michal Řezníček: AI is a major global megatrend. Personally, I use ChatGPT dozens of times daily—it has largely replaced traditional search engines for my analytical inquiries. Corporately, Direct implements AI where it significantly elevates customer experience or delivers major cost efficiencies. For example, when launching our pet insurance product, we integrated AI directly with veterinary clinics so claims are processed automatically within one minute while the client is still at the clinic, eliminating manual paperwork.
Jiří Koleňák: I interacted with your AI voicebot, "Tonda," when reporting a claim recently, and was impressed by its sophistication.
Michal Řezníček: Tonda improves every week. Initially, I resisted deploying voicebots because poorly executed conversational AI frustrates customers. We delayed public rollout until Tonda achieved high accuracy. During recent regional flooding, Tonda proved invaluable by absorbing massive claim call spikes that would have overwhelmed human operators. However, for complex, empathetic customer interactions, our human call center team remains irreplaceable.
Jiří Koleňák: Tell us about your "Development Board" and "Mirror" evaluation tools.
Michal Řezníček: The "Development Board" is a quarterly executive review focused on top talent, utilizing our internal 360-degree feedback tool called "The Mirror." Meetings begin with the "Keeper Test": If this individual submitted their resignation today, would we fight aggressively to keep them? If the answer is no, we address whether they belong on the team. If the answer is yes, we design customized development roadmaps to accelerate their career growth. Additionally, we split our strategic retreats into two distinct days: Day 1 focuses strictly on commercial strategy, while Day 2 focuses entirely on corporate culture and talent development. Competitors can copy products, but unique company culture cannot be replicated.
Olga Girslová: What motivated your participation in the Manager of the Year awards?
Michal Řezníček: I was nominated externally by business partners, for which I am deeply grateful. Participating offered a wonderful opportunity to step outside the "Direct bubble," connect with top leaders across diverse industries, and exchange strategic perspectives.
Olga Girslová: You also participated in our university job-shadowing initiative, hosting a student for a day. How was that experience?
Michal Řezníček: Fantastic! A Newton University student shadowed me for an entire day—he was extremely sharp, well-prepared, and asked insightful questions. Job shadowing provides students with authentic exposure to executive decision-making, organizational dynamics, and company culture, helping shape their future career direction. I strongly support expanding job-shadowing programs across universities nationwide.
Olga Girslová: Thank you, Michal, for an inspiring conversation.
Michal Řezníček: Thank you very much for having me.
Jiří Koleňák: To our listeners, thank you for tuning into this special Manager of the Year series. Olga and I look forward to bringing you more inspiring conversations in upcoming episodes!
